Colorado § 10-2-406 - Licensing of agencies.
Full text of Colorado Colorado Revised Statutes § 10-2-406 — Licensing of agencies., with citation guidance and answers to common questions.
§ 10-2-406. Licensing of agencies.
(1) For the purposes set forth in section 10-2-701, an insurance agency or business entity shall be licensed as an insurance producer.
(2) (a) The insurance agency or business entity shall register the name of every natural person who, as a member, officer, director, stockholder, owner, or employee of the agency or business entity, is acting as and is licensed as an insurance producer.
(b) A fee, prescribed by the commissioner in accordance with section 10-2-413, shall be paid for the registration of each insurance producer.
(3) The insurance agency or business entity shall, within ten days, notify the commissioner, on a form prescribed by the commissioner, of every change relative to the licensed individual insurance producers registered and authorized to act as insurance producers for the insurance agency or business entity.
(4) The insurance agency or business entity shall, within ten days, notify the commissioner, on a form prescribed by the commissioner, of any change relative to the insurance agency or business entity name, officers, directors, partners, or owners, to report a merger, or that the insurance agency or business entity has ceased doing business in this state.
(5) When an insurance agency or business entity ceases to do business in this state, the insurance agency or business entity shall return the producer license to the commissioner within ten days after ceasing to do business.
(6) When an insurance agency or business entity changes its principal address to another state, the insurance agency or business entity shall, within ten days, notify the commissioner and return the producer license for cancellation. Relicensing will be subject to the provisions of part 5 of this article.
(7) (a) The insurance agency or business entity shall comply with section 10-2-404.
(b) A nonresident insurance agency shall also comply with the qualification requirements of section 10-2-501.
Source: L. 93: Entire article R&RE, p. 1359, § 1, effective January 1, 1995. L. 2001: (1), (2)(a), (3), (4), (5), (6), and (7)(a) amended, p. 1198, § 13, effective January 1, 2002.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-2-406
What does Colorado Revised Statutes § 10-2-406 cover?
Section 10-2-406 ("Licensing of agencies.") 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 § 10-2-406?
A common citation format is "Colorado Revised Statutes § 10-2-406" (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 § 10-2-406 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.