Colorado § 10-3-128 Domestic insurer - requirement to maintain offices in this state

Colorado Statutes

§ 10-3-128 — Domestic insurer - requirement to maintain offices in this state

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

(1)Before granting the initial certificate of authority to an applicant to become a domestic insurer, the commissioner shall be satisfied by proper evidence that:

(a)The insurer's books and records are located or maintained in this state or are readily accessible to the examiners of this state; and

(b)The grant of a certificate of authority as a domestic insurer will provide benefit to the state of Colorado through either significant economic development or through the offering of insurance coverage desired by and beneficial to the Colorado insurance buying public.

(2)No later than January 1, 1992, any domestic insurer licensed in this state prior to July 1, 1991, shall file a plan for compliance with this section.

(3)The commissioner may modify or waive the requirements of

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(1) Before granting the initial certificate of authority to an applicant to become a
domestic insurer, the commissioner shall be satisfied by proper evidence that:

(a) The insurer's books and records are located or maintained in this state or
are readily accessible to the examiners of this state; and

(b) The grant of a certificate of authority as a domestic insurer will provide
benefit to the state of Colorado through either significant economic development or
through the offering of insurance coverage desired by and beneficial to the
Colorado insurance buying public.

(2) No later than January 1, 1992, any domestic insurer licensed in this state
prior to July 1, 1991, shall file a plan for compliance with this section.

(3) The commissioner may modify or waive the requirements of this section
for cause on a case by case basis.

(4) The commissioner may promulgate such rules and regulations as are
necessary to carry out the provisions of this section.

Colorado § 10-3-128 (Domestic insurer - requirement to maintain offices in this state) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.