Colorado § 10-2-1003 - Licensure.
Full text of Colorado Colorado Revised Statutes § 10-2-1003 — Licensure., with citation guidance and answers to common questions.
§ 10-2-1003. Licensure.
(1) No person, firm, association, or corporation shall act in the capacity of an MGA with respect to risks located in this state for an insurer licensed in this state unless such person is a licensed producer in this state.
(2) No person, firm, association, or corporation shall act in the capacity of an MGA representing an insurer domiciled in this state with respect to risks located outside this state unless such person is licensed as a producer in this state (such license may be a nonresident license) pursuant to the provisions of this part 10.
(3) The commissioner may require a bond in an amount acceptable to the commissioner for the protection of the insurer.
(4) The commissioner may require the MGA to maintain an errors and omissions policy.
Source: L. 93: Entire article R&RE, p. 1384, § 1, effective January 1, 1995.
Editor's note: This section is similar to former § 10-2-403 as it existed prior to 1993.
Frequently Asked Questions About Colorado § 10-2-1003
What does Colorado Revised Statutes § 10-2-1003 cover?
Section 10-2-1003 ("Licensure.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 10-2-1003?
A common citation format is "Colorado Revised Statutes § 10-2-1003" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 10-2-1003 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.