Go to Previous Versions
of
this Section
2024 Colorado Revised Statutes
Title 10 - INSURANCE (§§ 10-1-101 — 10-23-110)
REGULATION OF INSURANCE COMPANIES (§§ 10-3-101 — 10-3.5-111)
Article 3 - REGULATION OF INSURANCE COMPANIES (§§ 10-3-101 — 10-3-1716)
Part 16 - CORPORATE GOVERNANCE ANNUAL DISCLOSURES (§§ 10-3-1601 — 10-3-1608)
Section 10-3-1607 - Sanctions
Universal Citation:
CO Rev Stat § 10-3-1607 (2024)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
Any insurer or insurance group that fails, without just cause, to timely file a CGAD as required in this part 16 shall pay, after notice and a hearing, a penalty of two hundred dollars for each day's delay. The maximum penalty under this section is twenty-five thousand dollars. The commissioner may reduce the penalty if the insurer or insurance group demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer or insurance group.
Added by 2019 Ch. 188,§ 1, eff. 8/2/2019.
L. 2019: Entire part added, (HB 19-1291), ch. 2089, p. 2089, § 1, effective August 2.
Disclaimer: These codes may not be the most recent version. Colorado may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
