Colorado § 10-4-1507 Application for license - fees

Colorado Statutes

§ 10-4-1507 — Application for license - fees

Colorado·Title 10 Insurance·Art. Property and Casualty Insurance

(1)An applicant for a license under this part 15 shall apply for a license in accordance with section 10-2-404; except that, in lieu of providing information for all officers, partners, and directors as required by section 10-2-404 (2), the required information to be submitted for a license pursuant to this part 15 is limited to the information pertaining to an employee or officer of the vendor that is designated by the applicant as the person responsible for the vendor's compliance with this part 15. If the vendor derives more than fifty percent of its revenue from the sale of portable electronics insurance, the vendor shall provide the location of the home office, name, residence address, and other information required by the commissioner for all officers, directors, and share

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(1) An applicant for a license
under this part 15 shall apply for a license in accordance with section 10-2-404;
except that, in lieu of providing information for all officers, partners, and directors
as required by section 10-2-404 (2), the required information to be submitted for a
license pursuant to this part 15 is limited to the information pertaining to an
employee or officer of the vendor that is designated by the applicant as the person
responsible for the vendor's compliance with this part 15. If the vendor derives more
than fifty percent of its revenue from the sale of portable electronics insurance, the
vendor shall provide the location of the home office, name, residence address, and
other information required by the commissioner for all officers, directors, and
shareholders of record having beneficial ownership of ten percent or more of any
class of securities registered under the federal securities laws.

(2) For purposes of complying with section 10-2-404 (2)(d), the licensed
producer designated by an applicant is not required to be an officer, partner,
employee, or director of the applicant.

(3) An applicant for a license pursuant to this part 15 is exempt from the
requirements of sections 10-2-404 (2)(f) and 10-2-406.

(4) Any vendor engaging in portable electronics insurance transactions on or
before January 1, 2013, shall apply for licensure within ninety days after January 1,
2013. Any applicant commencing operations after January 1, 2013, shall obtain a
license before offering portable electronics insurance.

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