Colorado § 10-15-111 - Insurance-funded preneed contracts.
Full text of Colorado Colorado Revised Statutes § 10-15-111 — Insurance-funded preneed contracts., with citation guidance and answers to common questions.
§ 10-15-111. Insurance-funded preneed contracts.
(1) If a contract seller enters into a preneed contract in which the consideration is the assignment of life insurance benefits, such preneed contract shall state that all or part of such assigned funds shall be paid to the contract seller to pay for the services or merchandise, or both, included in the preneed contract. The preneed contract and the assignment shall identify the policy being assigned including the name of the issuing company. The initial benefit assigned shall not exceed the preneed contract price when the assignment is executed. The purchaser of any insurance policy to be assigned under a preneed contract must have an insurable interest in the life of the preneed contract beneficiary.
(2) If the value of the assignment exceeds the price of the preneed contract services or merchandise, or both, at the time of the death of the preneed contract beneficiary, based on the general provider's general price list in force in accordance with the regulations of the federal trade commission, the excess amounts shall be paid to the beneficiary under the policy or, if none, to the estate of the preneed contract beneficiary.
Source: L. 95: Entire article R&RE, p. 1043, § 1, effective May 25.
Editor's note: This section is similar to former § 10-15-111 as it existed prior to 1995.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-15-111
What does Colorado Revised Statutes § 10-15-111 cover?
Section 10-15-111 ("Insurance-funded preneed contracts.") 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 § 10-15-111?
A common citation format is "Colorado Revised Statutes § 10-15-111" (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 § 10-15-111 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.