In addition to any other penalties provided by the laws of Colorado, any carrier or any producer who violates any requirement of Colorado law relating to the regulation of long-term care insurance or the marketing of such insurance shall be subject to a fine of up to three times the amount of any commissions paid for each policy involved in the violation or up to ten thousand dollars, whichever is greater.
Source: L. 95: Entire section added, p. 924, § 24, effective May 25.
Structure Colorado Code
Article 19 - Long-Term Care Insurance
§ 10-19-102. Legislative Declaration
§ 10-19-104. Scope and Applicability of Article
§ 10-19-105. Extraterritorial Jurisdiction - Group Long-Term Care Insurance
§ 10-19-106. Rules on Disclosure
§ 10-19-107. Performance Standards
§ 10-19-108. Requirements for Preexisting Conditions
§ 10-19-109. Requirements for Prior Hospitalization or Institutionalization
§ 10-19-110. Loss Ratio Standards
§ 10-19-111. Right to Return Policy - Free Look
§ 10-19-112. Outline of Coverage - Certificate
§ 10-19-113. Option for Inflation Adjustment - Renewability
§ 10-19-113.3. Incontestability Period
§ 10-19-113.4. Nonforfeiture Benefits - Rules