Colorado § 10-6-120 Examinations and investigations

Colorado Statutes

§ 10-6-120 — Examinations and investigations

Colorado § 10-6-120

Title 10Insurance

Art.Captive Insurance Companies

This text of Colorado § 10-6-120 (Examinations and investigations) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 10-6-120 (2026).

Text

(1)The commissioner or any person so authorized has the authority to examine the financial condition, affairs, and management of any applicant or captive insurance company operating under the laws of this state. For such purpose the commissioner shall have free access to all the books, papers, and documents relating to the business of the company, and the commissioner may summon witnesses and administer oaths and affirmations in the examination of the directors, trustees, officers, agents, or employees of such company and any other person in relation to its affairs, transactions, and conditions. The reasonable cost of examinations of captive insurance companies shall be paid by the company examined and shall include the expenses of the commissioner and the commissioner's assista

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(1) The commissioner or any
person so authorized has the authority to examine the financial condition, affairs,
and management of any applicant or captive insurance company operating under
the laws of this state. For such purpose the commissioner shall have free access to
all the books, papers, and documents relating to the business of the company, and
the commissioner may summon witnesses and administer oaths and affirmations in
the examination of the directors, trustees, officers, agents, or employees of such
company and any other person in relation to its affairs, transactions, and conditions.
The reasonable cost of examinations of captive insurance companies shall be paid
by the company examined and shall include the expenses of the commissioner and
the commissioner's assistants.

(2) The commissioner may use other independent professionals, such as
qualified actuaries, risk managers, certified public accountants, or examiners of
insurance companies. The commissioner may also accept, as a part of the
examination, reports or portions thereof made by the persons specified in this
subsection (2). All reasonable expenses and charges of such persons so retained
shall be paid directly by the captive insurance company being examined.

Legislative History

Source: L. 72: p. 435, � 1. C.R.S. 1963: � 72-36-20. L. 89: (7) added, p. 465, � 11, effective April 15. L. 91: (7) amended, p. 1248, � 11, effective July 1. L. 94: Entire section R&RE, p. 548, � 11, effective April 6.