Colorado § 10-7-615 - Rules.
Full text of Colorado Colorado Revised Statutes § 10-7-615 — Rules., with citation guidance and answers to common questions.
§ 10-7-615. Rules.
(1) The commissioner may:
(a) Promulgate rules implementing this part 6;
(b) Establish standards for evaluating the reasonableness of payments under a viatical settlement contract for a person who is terminally or chronically ill. This authority includes, but is not limited to, regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise, or bequest of a benefit under a policy. If the insured is not terminally or chronically ill, a viatical settlement provider shall pay an amount greater than the cash surrender value or accelerated death benefit then available.
(c) Establish appropriate licensing requirements, fees, and standards for continued licensure for a viatical settlement provider and a fee for life insurance producers;
(d) Require a bond or other mechanism for financial accountability for a viatical settlement provider; and
(e) Adopt rules governing the relationship and responsibilities of an insurer and a viatical settlement provider, a life insurance producer, and others in the business of viatical settlements during the period of consideration or effectuation of a viatical settlement contract.
Source: L. 2005: Entire part added, p. 1322, § 1, effective January 1, 2006.
Frequently Asked Questions About Colorado § 10-7-615
What does Colorado Revised Statutes § 10-7-615 cover?
Section 10-7-615 ("Rules.") 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 § 10-7-615?
A common citation format is "Colorado Revised Statutes § 10-7-615" (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 § 10-7-615 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.