Colorado § 10-20-111 Powers and duties of the commissioner

Colorado Statutes

§ 10-20-111 — Powers and duties of the commissioner

Colorado·Title 10 Insurance·Art. Life and Health Insurance

(1)In addition to any other powers and duties specified in this article 20, the commissioner shall:

(a)Upon request of the board, provide the association with a statement of the premiums in this and any other appropriate states for each member insurer;

(b)Notify the board of the existence of an impaired or insolvent insurer not later than three days after a determination of impairment or insolvency is made by the commissioner, irrespective of limitations imposed upon the commissioner in section 10-3-401;

(c)In any liquidation proceeding involving a domestic member insurer, be appointed as the liquidator.

(2)The commissioner may suspend or revoke, after notice and hearing, the certificate of authority or license to transact insurance or the business of a health maintenance

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(1) In addition to any
other powers and duties specified in this article 20, the commissioner shall:

(a) Upon request of the board, provide the association with a statement of
the premiums in this and any other appropriate states for each member insurer;

(b) Notify the board of the existence of an impaired or insolvent insurer not
later than three days after a determination of impairment or insolvency is made by
the commissioner, irrespective of limitations imposed upon the commissioner in
section 10-3-401;

(c) In any liquidation proceeding involving a domestic member insurer, be
appointed as the liquidator.

(2) The commissioner may suspend or revoke, after notice and hearing, the
certificate of authority or license to transact insurance or the business of a health
maintenance organization in this state of any member insurer that fails to pay an
assessment when due or fails to comply with the plan of operation. As an
alternative, the commissioner may levy a forfeiture on any member insurer that fails
to pay an assessment when due. The forfeiture must not exceed five percent of the
unpaid assessment per month, but a forfeiture must not be less than one hundred
dollars per month.

(3) The conservator, rehabilitator, or liquidator of any impaired or insolvent
insurer shall notify all interested persons of the effect of this article.

Colorado § 10-20-111 (Powers and duties of the commissioner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 91: Entire article added, p. 1274, � 1, effective July 1. L. 2013: (1)(b) and (3) amended, (SB 13-032), ch. 34, p. 97, � 7, effective March 15. L. 2023: IP(1), (1)(c), and (2) amended, (HB 23-1303), ch. 195, p. 991, � 11, effective May 15.