Colorado Statutes
§ 10-4-119 — Monthly and electronic payment of premiums
An insurer offering
personal lines of property and casualty insurance shall offer each policyholder the
option to pay his or her insurance premiums monthly and to make premium
payments by automatic electronic transfer. The insurer shall not be required to
offer such payment options if an applicant or policyholder has previously made one
or more premium payments that were dishonored because the account closed, the
account had insufficient funds, or for any other similar reason for nonpayment.
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Legislative History
Source: L. 2005: Entire section added, p. 345, � 1, effective December 31.
Nearby Sections
15
§ 10-1-101
Legislative declaration§ 10-1-102
Definitions§ 10-1-105
Actuary§ 10-1-107
Personal fees prohibited§ 10-1-109
Rules of commissioner§ 10-1-111
Invoking aid of courts§ 10-1-113
No seal required on policies§ 10-1-114
Sale of premium notes prohibited§ 10-1-115
Penalty§ 10-1-116
Defamation of other companies - penalty§ 10-1-117
Company unauthorized in other states