§ 10-3-907 — Investigation and disclosure of insurance contracts

(1)
Whenever the commissioner has reason to believe that insurance has been
effectuated by or for any person in this state with an unauthorized insurer, the
commissioner shall in writing order such person to produce for examination all
insurance contracts and other documents evidencing insurance with both
authorized and unauthorized insurers and to disclose to the commissioner the
amount of insurance, name and address of each insurer, gross amount of premium
paid or to be paid, and the name and address of the person assisting or aiding in the
solicitation, negotiation, or effectuation of such insurance.

(2) Every person who, for thirty days after such written order pursuant to
subsection (1) of this section, neglects to comply with the requirements of such
order or who willfully makes a disclosure that is untrue, deceptive, or misleading
shall forfeit fifty dollars, and an additional fifty dollars for each day of neglect after
expiration of said thirty days.

Legislative History

Source: L. 67: p. 871, � 6. C.R.S. 1963: � 72-25-6.