Colorado § 10-3-1716 - Merger or consolidation effective with division.

§ 10-3-1716. Merger or consolidation effective with division.

(1) To facilitate the merger or consolidation of any resulting insurer with and into another company simultaneously with the effectiveness of a division authorized by this part 17, a dividing insurer, including its officers, directors, and shareholders, may:

(a) Adopt and execute a plan of merger or consolidation on behalf of a resulting insurer;

(b) Execute and deliver documents, plans, certificates, and resolutions; and

(c) Make any filings, in each case, on behalf of the resulting insurer.

(2) If so provided in a plan of merger or consolidation described in this section, the merger or consolidation is effective simultaneously with the effectiveness of a division authorized by this part 17.

(3) On request of the dividing insurer, the commissioner may waive the other requirements of this section with respect to any merger or consolidation involving only domestic stock insurers and may issue the commissioner's final approval of the merger or consolidation as part of the commissioner's approval of a plan of division under this part 17.

Source: L. 2021: Entire part added, (HB 21-1013), ch. 144, p. 855, § 1, effective September 7.

CERTIFIED CAPITAL COMPANIES

10-3.5 ARTICLE 3.5

Certified Capital Companies

10-3.5-101 to 10-3.5-111. (Repealed)

PROPERTY AND CASUALTY INSURANCE

ARTICLE 4

Property and Casualty Insurance

PART 1

GENERAL

10-4-101. Legislative declaration.

10-4-101.5. Definitions.

10-4-102. Federal "voluntary fair access to insurance required, property insurance program" - state qualification.

10-4-103. Voluntary partial payment of liability claims without admission of liability.

10-4-104. Competency of minor to contract for insurance - nonavoidance.

10-4-105. Valuation of bonds and policies other than life.

10-4-106. Assigned risks.

10-4-106.5. Medical malpractice insurers - requirement to provide information to the department of public health and environment.

10-4-107. Cancellation of medical malpractice policies.

10-4-108. Notice.

10-4-109. Nonrenewal of medical malpractice policies.

10-4-109.5. Notice of intent prior to unilateral increase in premium or decrease in coverage previously provided in medical malpractice policies.

10-4-109.6. Medical malpractice insurers - protections relating to reproductive health care - definition.

10-4-109.7. Notice of intent prior to cancellation of certain policies of insurance.

10-4-110. Notice of intent prior to nonrenewal of certain policies of insurance.

10-4-110.3. Exclusions where claim involves sexual misconduct - void.

10-4-110.4. Exclusion - claims involving loss in progress not known to insured.

10-4-110.5. Notice of intent prior to unilateral increase in premium or decrease in coverage previously provided in certain policies of insurance.

10-4-110.6. Homeowner's insurance - definition. (Repealed)

10-4-110.7. Cancellation or nonrenewal - homeowner's insurance policies.

10-4-110.8. Homeowner's insurance - prohibited and required practices - estimates of replacement value - additional living expense coverage - copies of policies - personal property contents coverage - inventory of personal property - requirements concerning total loss scenarios resulting from wildfire disasters - definitions - rules.

10-4-110.9. Fire insurance - issuance and renewal of policies within federally designated disaster areas.

10-4-111. Summary disclosure forms required.

10-4-112. Property damage - time of payment. (Repealed)

10-4-113. Exemptions.

10-4-114. Requirements on hazard insurance coverage for loans secured by real property.

10-4-115. Private utilization review.

10-4-116. Use of credit information.

10-4-117. Loss history information report - notice to insured - definition.

10-4-118. Severability.

10-4-119. Monthly and electronic payment of premiums.

10-4-120. Unfair or discriminatory trade practices - legislative declaration.

10-4-121. Authority of insurer to protect policyholders' property - emergency.

10-4-122. Market study - property and casualty insurance - associations of common interest communities and lodging facilities owners - definitions - report - repeal. (Repealed)

10-4-123. Policy summary of major provisions - choice of language - penalty for insurer noncompliance - rules - definitions.

10-4-124. Homeowner insurance - underwriting - wildfire risk models - requirements - definitions - rules.

PART 2

FIRE, MARINE, AND INLAND MARINE INSURANCE - RATES AND RATING ORGANIZATIONS

10-4-201 to

10-4-217. (Repealed)

PART 3

BONDS EXECUTED BY QUALIFIED SURETY COMPANIES

10-4-301. Bond executed by surety company.

10-4-302. Release of surety - other security.

10-4-303. Application for release of surety - refund.

10-4-304. Place of deposit.

10-4-305. Bond part of expense.

PART 4

RATE REGULATION

10-4-401. Purpose - applicability.

10-4-402. Definitions.

10-4-403. Standards for rates - competition - procedure - requirement for independent actuarial opinions regarding 1991 legislation.

10-4-404. Rate administration.

10-4-404.5. Rating plans - property and casualty type II insurers - rules.

10-4-404.6. Legislative declaration - obtaining information of impact of changes in the civil justice system. (Repealed)

10-4-405. Filing of rating information - certain coverages - rules.

10-4-406. Review of filings - certain coverages.

10-4-407. Hearings.

10-4-408. Rating organization - study of workers' compensation rates - premium reductions - adoption of rules.

10-4-409. Rates furnished - cooperation among organizations.

10-4-410. Advisory organizations.

10-4-411. Joint underwriting.

10-4-412. Assigned risk motor vehicle insurance.

10-4-413. Records required to be maintained.

10-4-414. Examinations.

10-4-415. Prohibition against anticompetitive behavior.

10-4-416. Prohibiting changes in rates or coverages.

10-4-417. False or misleading information.

10-4-418. Enforcement procedures - penalties.

10-4-419. Claims-made policy forms.

10-4-419.5. Workers' compensation form certification.

10-4-420. Risk management procedures.

10-4-421. Notice of rate increases and decreases.

PART 5

COLORADO INSURANCE GUARANTY ASSOCIATION ACT

10-4-501. Short title.

10-4-502. Legislative declaration.

10-4-503. Definitions.

10-4-504. Scope.

10-4-505. Construction.

10-4-506. Colorado insurance guaranty association.

10-4-507. Board of directors.

10-4-508. Powers and duties of association.

10-4-508.5. Aggregate liability of association.

10-4-509. Plan of operation.

10-4-510. Duties and powers of commissioner.

10-4-511. Effect of paid claims.

10-4-512. Nonduplication of recovery.

10-4-513. Prevention of insolvencies.

10-4-514. Examination of association.

10-4-515. Tax exemption.

10-4-516. Recognition of assessments in rates.

10-4-517. Immunity.

10-4-518. Stay of proceedings.

10-4-519. Termination - distribution of funds.

10-4-520. Advertising.

PART 6

AUTOMOBILE INSURANCE POLICY - REGULATIONS

10-4-601. Definitions.

10-4-601.5. Administrative authority.

10-4-602. Basis for cancellation.

10-4-603. Notice.

10-4-604. Nonrenewal.

10-4-604.5. Issuance or renewal of insurance policies - proof of insurance provided by certificate, card, or other media.

10-4-605. Proof of notice.

10-4-606. Further notice.

10-4-607. Immunity.

10-4-608. Exemptions.

10-4-609. Insurance protection against uninsured motorists - applicability.

10-4-610. Property damage protection against uninsured motorists.

10-4-611. Elimination of discounts - damage by uninsured motorist.

10-4-612. Study concerning implementation of proof of insurance. (Repealed)

10-4-613. Glass repair and replacement.

10-4-614. Inflatable restraint systems - replacement - verification of claims - definition.

10-4-615. Motorist insurance identification database program - reporting required - fine.

10-4-616. Disclosure of credit reports.

10-4-617. Insurers - biannual fee - auto theft prevention authority.

10-4-618. Unfair or discriminatory trade practices - legislative declaration. (Repealed)

10-4-619. Coverage compulsory.

10-4-620. Required coverage.

10-4-621. Required coverages are minimum.

10-4-622. Required provision for intrastate and interstate operation.

10-4-623. Conditions and exclusions.

10-4-624. Self-insurers.

10-4-625. Premium payments.

10-4-626. Prohibited reasons for nonrenewal or refusal to write policy of automobile insurance applicable to this part 6.

10-4-627. Discriminatory standards - premiums - surcharges - proof of financial responsibility requirements.

10-4-628. Refusal to write - changes in - cancellation - nonrenewal of policies prohibited.

10-4-629. Cancellation - renewal - reclassification.

10-4-630. Exclusion of named driver.

10-4-631. Insurers to file rate schedule. (Repealed)

10-4-632. Reduction in rates for drivers aged fifty-five years or older who complete driver's education course - legislative declaration.

10-4-633. Certification of policy and notice forms.

10-4-633.5. Automobile insurance policies - plain language required - rules.

10-4-634. Assignment of payment for covered benefits.

10-4-635. Medical payments coverage - exceptions - definitions.

10-4-636. Disclosure requirements for automobile insurance products offered - rules.

10-4-637. No discrimination by profession.

10-4-638. Retroactive adjustment of health-care service claims.

10-4-639. Claims practices for property damage.

10-4-640. Operator's policy of insurance.

10-4-641. Rules - medical payments coverage.

10-4-642. Prompt payment of direct benefits - legislative declaration - definitions.

10-4-643. Electronic claim forms - rules.

10-4-644. Child restraint system - insurance coverage - definition.

PART 7

MOTOR VEHICLE ("NO-FAULT") INSURANCE

10-4-701 to

10-4-726. (Repealed)

PART 8

MEDICAL LIABILITY EXTRAORDINARY LOSS FUND

10-4-801 to

10-4-808. (Repealed)

PART 9

MEDICAL MALPRACTICE INSURANCE - JOINT UNDERWRITING ASSOCIATION

10-4-901 to

10-4-913. (Repealed)

PART 10

FRAUDULENT CLAIMS AND ARSON INFORMATION REPORTING ACT

10-4-1001. Short title.

10-4-1002. Definitions.

10-4-1003. Disclosure of information.

10-4-1004. Evidence - confidential.

10-4-1005. Immunity.

10-4-1006. Enforcement.

10-4-1007. Penalty.

10-4-1008. Municipal ordinances - concurrent jurisdiction - common law.

10-4-1009. Continuing duties of insurers - unfair claim settlement practices.

PART 11

COMMERCIAL LIABILITY INSURANCE JOINT UNDERWRITING ASSOCIATION

10-4-1101 to

10-4-1114. (Repealed)

PART 12

TRANSACTION OF BUSINESS WITH PRODUCER-CONTROLLED PROPERTY AND CASUALTY INSURERS

10-4-1201. Definitions.

10-4-1202. Minimum standards.

10-4-1203. Disclosure.

10-4-1204. Penalties.

10-4-1205. Applicability.

10-4-1206. Effective date.

PART 13

BLACK LUNG DISEASE INSURANCE JOINT UNDERWRITING ASSOCIATION

10-4-1301. Legislative declaration.

10-4-1302. Definitions.

10-4-1303. Temporary joint underwriting association.

10-4-1304. Board of directors - authority.

10-4-1305. Plan of operation - annual certification.

10-4-1306. Deficits - assessment - rebate of surplus.

10-4-1307. Annual statements.

10-4-1308. Examinations.

10-4-1309. Legislative declaration - authority of commissioner - emergency rules - judicial review.

10-4-1310. Privileged communications.

10-4-1311. Tax exemption.

PART 14

EXEMPTION FROM RATE AND APPROVAL REQUIREMENTS FOR INSURERS PROVIDING COVERAGE TO EXEMPT COMMERCIAL POLICYHOLDERS

10-4-1401. Legislative declaration.

10-4-1402. Rules.

10-4-1403. Exemption from rate filing, approval, and form certification requirements.

10-4-1404. Multistate insurance risks - choice of law.

PART 15

PORTABLE ELECTRONICS INSURANCE

10-4-1501. Definitions.

10-4-1502. Licensure of vendors.

10-4-1503. Requirements for sale of portable electronics insurance.

10-4-1504. Authority of vendors of portable electronics.

10-4-1505. Suspension or revocation of license.

10-4-1506. Termination of portable electronics insurance.

10-4-1507. Application for license - fees.

PART 16

CONSUMER GOODS SERVICE CONTRACTS

10-4-1601. Definitions.

10-4-1602. Exemptions.

10-4-1603. Requirements for sale of consumer goods service contracts - definitions.

10-4-1604. Obligations of reimbursement insurance companies.

10-4-1605. Required disclosures - reimbursement insurance policy.

10-4-1606. Required disclosures - service contracts.

10-4-1607. Prohibited acts.

10-4-1608. Required record keeping.

10-4-1609. Enforcement provisions - rules.

PART 17

SELF-STORAGE INSURANCE LIMITED LICENSES

10-4-1701. Definitions.

10-4-1702. Authority to issue license.

10-4-1703. License - application - restrictions.

10-4-1704. Disclosures to occupant.

10-4-1705. Supervision of issuance - training.

10-4-1706. Compensation.

10-4-1707. Exemption from requirements.

10-4-1708. Notification.

10-4-1709. Enforcement.

PART 18

FAIR ACCESS TO INSURANCE REQUIREMENTS

10-4-1801. Short title.

10-4-1802. Legislative declaration.

10-4-1803. Definitions.

10-4-1804. Fair access to insurance requirements plan association - creation - participation required.

10-4-1805. Fair access to insurance requirements plan association - board of directors - membership - duties - report.

10-4-1806. FAIR plan - plan requirements - insurer requirements.

10-4-1807. Plan of operation - mandatory components - amendments - revocation by commissioner - rules.

10-4-1808. FAIR plans - requirements for licensed producers.

10-4-1809. Assessment of fees.

10-4-1810. Enforcement - suspension or revocation of certificate of authority - fines.

10-4-1810.5. Immunity - exceptions - remedies.

10-4-1811. Appeals - judicial review.

10-4-1812. Rules.

PART 19

TRAVEL INSURANCE MODEL ACT

10-4-1901. Short title.

10-4-1902. Scope and purpose.

10-4-1903. Definitions.

10-4-1904. Premium tax.

10-4-1905. Travel protection plans.

10-4-1906. Sales practices - definition.

10-4-1907. Travel administrators.

10-4-1908. Policy.

10-4-1909. Rules.

PART 20

STRENGTHEN COLORADO HOMES ENTERPRISE

10-4-2001. Legislative declaration.

10-4-2002. Definitions.

10-4-2003. Strengthen Colorado homes enterprise - creation - purpose - enterprise board - powers and duties - fee - fund - gifts, grants, or donations - rules - reporting - repeal.

10-4-2004. Strengthen Colorado homes enterprise grant program - application - eligibility criteria - award of grants - rules.

10-4-2005. Study regarding insurance risk in high-risk wildfire areas of the state - repeal.

10-4-2006. Severability.

PART 1

GENERAL