Colorado Statutes
§ 10-7-706 — Reliance on statements
An insurer is entitled to rely upon all
reasonable statements, declarations, and representations made by an applicant for
life insurance relative to the existence of an insurable interest. No insurer incurs
legal liability, except as set forth in the policy, by virtue of untrue statements,
declarations, or representations relied upon in good faith by the insurer.
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Legislative History
Source: L. 2011: Entire part added, (SB 11-182), ch. 227, p. 975, � 1, effective
May 27.
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
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