Division of insurance
- division of insurance cash fund created
- division subject to repeal
- repeal of functions
(1)There is established a division of insurance in the department of regulatory agencies. The division of insurance is a
(2)The commissioner of insurance, before incurring any expense for his or her office and the maintenance thereof, exclusive of salaries and wages, shall make requisition therefor upon and receive the approval of the executive director of the department of personnel as required by law.
(II)All fees collected under sections 8-44-204 (7), 8-44-205 (6), 10-2-413, 10-3-108, 10-3-207, 10-3.5-104, 10-3.5-107, 10-12-106, 10-15-103, 10-16-110 (1) and (2), 10-16-111 (1), 10-16-122.1 (2.5), 10-23-102, 10-23-104, 24-10-115.5 (5), and 29-13-102 (5), not including fees retained under contracts entered into in accordance with section 10-2-402 (5) or 24-34-101, and all taxes collected under section 10-3-209 (4) designated for the division of insurance, are transmitted to the state treasurer, who shall credit the money to the division of insurance cash fund.
(b)The division shall use all money credited to the division of insurance cash fund as provided in this section and in section 24-48.5-106, subject to annual appropriation by the general assembly, for the purposes authorized in this title 10 and as otherwise authorized by law.
(c)Money in the fund does not revert to the general fund or to any other fund. In accordance with section 24-36-114, all interest derived from the deposit and investment of money in the fund is credited to the general fund.
(4)The division of insurance shall adopt a seal with the words “commissioner of insurance of the state of Colorado” and such other design as the commissioner may prescribe engraved thereon, by which it shall authenticate its proceedings, and of which the courts of this state shall take judicial notice. All copies of papers, certified by the commissioner and sealed with the seal of the division, shall have the same force and validity as the originals thereof in any suit or proceeding in any court in this state.
(5)The office of the division of insurance is a public office. Except as otherwise provided by law, the documents, materials, and information of the office or on file in the office are public records of this state, and information shall be furnished to anyone applying for the information; except that documents, materials, and information provided by the regulatory officials of any state, federal agency, or foreign country and by the national association of insurance commissioners shall be given confidential treatment if such documents, materials, and information are treated as confidential in such other state or foreign country or by such other federal agency or the national association of insurance commissioners. Notwithstanding any provision of this subsection (5) to the contrary, the commissioner or the commissioner’s designee may share otherwise confidential documents, materials, and information with regulatory officials of any state, federal agency, or foreign country and with the national association of insurance commissioners if the association or the regulatory official of the other state, federal agency, or foreign country agrees and has the legal authority to maintain the same level of confidentiality as applies to the documents, materials, and information under Colorado law.
(6)Intentionally left blank —Ed.
(a)The provisions of section 24-34-104, C.R.S., concerning the termination schedule for regulatory bodies of this state, unless extended as provided in that section, are applicable to the division of insurance created by this section.
Section 10-1-103 — Division of insurance - division of insurance cash fund created - division subject to repeal - repeal of functions,
https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-10.pdf (accessed Oct. 20, 2023).