C.R.S. Section 15-10-110
Insurance and other contracts

  • surrender value
  • effect of contract provisions
  • suit on claim of death

(1)

A finding of death in a formal testacy proceeding under this code shall be fully effective as to rights under insurance, annuity, and endowment contracts dependent upon the life of an absentee, and the receipts of beneficiaries for payments made under any such contracts shall be a release to the contract issuer of all claims under such contracts.

(2)

If, in any proceeding under this code, the absentee is not found to be deceased and any policy of insurance or any annuity or endowment contract owned by the absentee provides for a surrender value, the conservator, acting for the insured, with court approval and a finding of necessity, may demand the payment of surrender value to the estate of the absentee. The receipt of the conservator for such payment shall be a release to the contract issuer of all claims under the contract.

(3)

Notwithstanding the provisions in any annuity or endowment contract or policy of life or accident insurance or in the charter or bylaws of any mutual or fraternal insurance association hereafter executed or adopted, the provisions of this section shall govern the effect to be given to evidence of absence or of death.

(4)

When any annuity or endowment contract, any policy of life or accident insurance, or the charter or bylaws of any mutual or fraternal insurance association hereafter executed or adopted contains a provision requiring a beneficiary to bring suit upon a claim of death within a stated period after the death of the insured and the fact of the absence of the insured is relied upon by the beneficiary as evidence of the death, the action may be begun, notwithstanding such provision in the contract, policy, charter, or bylaws, at any time within the statutory period of limitation for actions on contracts in writing dating from the date of death of the absentee, as determined in a formal testacy proceeding under this code.

Source: Section 15-10-110 — Insurance and other contracts - surrender value - effect of contract provisions - suit on claim of death, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-15.­pdf (accessed Oct. 20, 2023).

15‑10‑101
Short title 15‑10‑102
Purposes - rule of construction 15‑10‑103
Supplementary general principles of law applicable 15‑10‑104
Severability 15‑10‑105
Construction against implied repeal 15‑10‑106
Effect of fraud and evasion 15‑10‑106.5
Petition to determine cause and date of death resulting from disaster - body unidentifiable or missing 15‑10‑107
Evidence of death or status 15‑10‑108
Acts by holder of general power 15‑10‑109
Remarriage of absentee’s spouse 15‑10‑110
Insurance and other contracts - surrender value - effect of contract provisions - suit on claim of death 15‑10‑111
Entry into safe deposit box of decedent - definitions 15‑10‑112
Cost of living adjustment of certain dollar amounts 15‑10‑201
General definitions 15‑10‑301
Territorial application 15‑10‑302
Subject matter jurisdiction 15‑10‑303
Venue - multiple proceedings - transfer 15‑10‑304
Practice in court 15‑10‑305
Records and certified copies 15‑10‑306
Jury trial 15‑10‑307
Registrar - powers 15‑10‑308
Appeals 15‑10‑310
Oath or affirmation on filed document 15‑10‑401
Notice - method and time of giving 15‑10‑402
Notice - waiver 15‑10‑403
Pleadings - when parties bound by others - notice 15‑10‑501
Court powers - definitions - application 15‑10‑502
Initial investigation 15‑10‑503
Power of a court to address the conduct of a fiduciary - emergencies - nonemergencies 15‑10‑504
Surcharge - contempt - sanctions against fiduciaries 15‑10‑505
Notice to fiduciary - current address on file 15‑10‑601
Definitions 15‑10‑602
Recovery of reasonable compensation and costs 15‑10‑603
Factors in determining the reasonableness of compensation and costs 15‑10‑604
Fee disputes - process and procedure 15‑10‑605
Compensation and costs - assessment - limitations 15‑10‑606
Applicability
Green check means up to date. Up to date

Current through Fall 2024

§ 15-10-110’s source at colorado​.gov