Each contract seller shall file with the commissioner a report, on a calendar year basis, on a form provided by the commissioner. In the report, each contract seller that is required to deposit funds with a trustee shall state the name of each trustee where trust funds are on deposit and the amount remaining on deposit in the trust fund on December 31. Any contract seller that has voluntarily or involuntarily discontinued the sale of preneed contracts need not obtain a renewal of its license but shall continue to make annual reports to the commissioner until all the contracts have been fully performed.
Source: L. 95: Entire article R&RE, p. 1036, § 1, effective May 25. L. 2013: Entire section amended, (SB 13-125), ch. 287, p. 1517, § 4, effective August 7.
Editor's note: This section is similar to former § 10-15-104 as it existed prior to 1995.
Cross references: For state laws relating to investment of funds by savings and loan associations, see § 11-41-114; for investment of funds by banks, see § 11-105-304; for investment of funds by credit unions, see § 11-30-104.
Structure Colorado Code
Article 15 - Preneed Funeral Contracts
§ 10-15-101. Legislative Declaration
§ 10-15-103. License Procedure - Records - Examination of Records - Definition
§ 10-15-103.5. Scope of Article - Exemptions
§ 10-15-105. Contract Requirements - Refund - Full Performance
§ 10-15-106. Preexisting Contracts
§ 10-15-107. Deposit of Funds With Trustee
§ 10-15-108. Standard for Investments by Trustees
§ 10-15-109. Disbursements - Excess Trust Assets
§ 10-15-110. Discharge of Preneed Contract - Disbursements by Trustees
§ 10-15-111. Insurance-Funded Preneed Contracts
§ 10-15-111.5. Change of Ownership - Rules
§ 10-15-113. Applicability of Administrative Procedure Act
§ 10-15-114. Investigations - Actions Against Licensees
§ 10-15-115. Injunctions - Cease-and-Desist Orders
§ 10-15-116. Surrender of License
§ 10-15-117. Reinstatement of License
§ 10-15-119. Immunity From Prosecution
§ 10-15-120. Rule Against Perpetuities Inapplicable