Colorado § 10-2-904 - Required contract provisions - reinsurance intermediary-producers.
Full text of Colorado Colorado Revised Statutes § 10-2-904 — Required contract provisions - reinsurance intermediary-producers., with citation guidance and answers to common questions.
§ 10-2-904. Required contract provisions - reinsurance intermediary-producers.
(1) Transactions between an RP and the insurer such RP represents shall only be entered into pursuant to a written authorization specifying the responsibilities of each party. The authorization shall, at a minimum, contain provisions that:
(a) The insurer may terminate the RP's authority at any time;
(b) The RP shall render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges, and other fees received by, or owing to, the RP, and remit all funds due to the insurer within thirty days of receipt;
(c) All funds collected for the insurer's account shall be held by the RP in a fiduciary capacity in a bank which is a qualified United States financial institution;
(d) The RP shall comply with section 10-2-905;
(e) The RP shall comply with the written standards established by the insurer for the cession or retrocession of all risks;
(f) The RP shall disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded.
Source: L. 93: Entire article R&RE, p. 1377, § 1, effective January 1, 1995.
Editor's note: This section is similar to former § 10-2-304 as it existed prior to 1993.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-2-904
What does Colorado Revised Statutes § 10-2-904 cover?
Section 10-2-904 ("Required contract provisions - reinsurance intermediary-producers.") 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 § 10-2-904?
A common citation format is "Colorado Revised Statutes § 10-2-904" (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 § 10-2-904 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.