§ 10-4-1609 — Enforcement provisions - rules

Colorado § 10-4-1609

• Jurisdiction: Colorado
• Title 10: Insurance
• Art.: Property and Casualty Insurance

Text

(1) (a) The commissioner may
conduct market examinations or financial examinations of providers under sections
10-1-201 to 10-1-205 to enforce this part 16.

(b) Upon the commissioner's request, the provider shall make available to the
commissioner all accounts, books, and records concerning service contracts sold by
the provider that are necessary to enable the commissioner to reasonably
determine the provider's compliance or noncompliance with this part 16 and the
commissioner's rules adopted in furtherance of this part 16.

(2) The provider examined in any financial or market conduct examination
shall bear the cost of the examination in accordance with section 10-1-205 (4).

(3) (a) If a provider violates this part 16, the commissioner may take the
following disciplinary actions:

(I) Issue an order directing the provider to cease and desist from committing
violations of this part 16;

(II) Issue an order prohibiting a service contract provider from selling or
offering for sale service contracts in violation of this part 16;

(III) Issue an order imposing a civil penalty on the provider; or

(IV) Any combination of the actions set forth in subparagraphs (I) to (III) of
this paragraph (a).

(b) Any civil penalty assessed by the commissioner is limited to not more
than five hundred dollars per violation and not more than ten thousand dollars in
the aggregate for all violations of a similar nature. For purposes of this paragraph
(b), violations are of a similar nature if the violations consist of the same or similar
course of conduct, action, or practice, regardless of the number of times the
noncompliant act, conduct, or practice occurred.

(c) A person aggrieved by any action taken or penalty assessed under this
subsection (3) may request a review in accordance with section 10-1-205 (4).

(4) (a) The commissioner may bring an action in any court of competent
jurisdiction for an injunction or other appropriate relief to address threatened or
existing violations of this part 16.

(b) An action filed under this subsection (4) may also seek restitution on
behalf of persons aggrieved by a violation of this part 16 or orders or rules of the
commissioner.

(5) The commissioner may promulgate rules to implement the provisions of
this part 16.

Legislative History

Source: L. 2014: Entire part added, (HB 14-1199), ch. 204, p. 749, � 2, effective January 1, 2015.