Colorado § 10-3-1108 Orders

Colorado Statutes

§ 10-3-1108 — Orders

Colorado·Title 10 Insurance·Art. Regulation of Insurance Companies

(1)If, after a hearing conducted under section 10-3-1107, the commissioner determines that the person charged has engaged in an unfair method of competition or an unfair or deceptive act or practice or has violated any other provision of this title or any rule or lawful order of the commissioner, the commissioner shall reduce the findings to writing and shall issue and cause to be served on such person a copy of such findings and an order requiring such person to cease and desist from engaging in such method of competition, act, practice, or violation, and, except in the case of an act or practice that is not a violation of any specific provision of this title or any specific rule or lawful order of the commissioner, the commissioner may, at his or her discretion, order any one o

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(1) If, after a hearing conducted under section 10-3-1107,
the commissioner determines that the person charged has engaged in an unfair
method of competition or an unfair or deceptive act or practice or has violated any
other provision of this title or any rule or lawful order of the commissioner, the
commissioner shall reduce the findings to writing and shall issue and cause to be
served on such person a copy of such findings and an order requiring such person
to cease and desist from engaging in such method of competition, act, practice, or
violation, and, except in the case of an act or practice that is not a violation of any
specific provision of this title or any specific rule or lawful order of the
commissioner, the commissioner may, at his or her discretion, order any one or more
of the following:

(a) Payment of a monetary penalty of not more than three thousand dollars
for each act or violation but not to exceed an aggregate penalty of thirty thousand
dollars, unless such person, being an insurer, knew or reasonably should have
known he or she was in violation of this part 11, in which case the penalty shall not
be more than thirty thousand dollars for each act or violation, but not to exceed an
aggregate penalty of seven hundred fifty thousand dollars annually;

(b) Suspension or revocation of the person's license if he knew or reasonably
should have known he was in violation of the provisions of this part 11; or

(c) Payment of a contractual claim to an insured or beneficiary pursuant to
an insurance policy if the commissioner finds that the violation of this part 11 caused
the failure to pay the claim, which amount shall be determined by the commissioner
at the hearing based on the testimony and evidence presented. This paragraph (c)
shall not apply during the pendency of any civil action seeking a declaratory
judgment concerning such claims.

(2) Any order issued by the commissioner pursuant to paragraph (c) of
subsection (1) of this section may be appealed to the district court, whereupon the
matter shall be tried de novo by the district court.

Colorado § 10-3-1108 (Orders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 73: R&RE, p. 862, � 1. C.R.S. 1963: � 72-14-8. L. 81: IP(1) amended, p. 577, � 4, effective June 4. L. 90: (1)(c) and (2) added, p. 614, �� 1, 2, effective April 5. L. 93: (1)(a) amended, p. 393, � 2, effective July 1. L. 94: IP(1) amended, p. 1628, � 23, effective May 31; IP(1) amended, p. 1946, � 2, effective June 2. L. 97: IP(1) amended, p. 1077, � 4, effective July 1; IP(1) amended, p. 98, � 2, effective January 1, 1998. L. 2008: (1)(a) amended, p. 2172, � 3, effective August 5.