Whenever evidence exists to the satisfaction of the commissioner that an insurance company has committed or suffered a delinquency, the commissioner may, upon determination of delinquency, notify the insurance company of his determination and furnish the insurance company a written list of requirements to abate his determination, and, if deemed necessary by the commissioner, he may place the insurance company under his direct supervision, with written notice to the company that it is so placed under direct supervision.
Source: L. 69: p. 545, § 3. C.R.S. 1963: § 72-29-4.
Structure Colorado Code
Article 3 - Regulation of Insurance Companies
§ 10-3-401. Legislative Declaration
§ 10-3-404. Determination of Delinquency - Procedure
§ 10-3-405. Direct Supervision
§ 10-3-406. Protest of Finding of Delinquency
§ 10-3-407. Costs of Direct Supervision
§ 10-3-411. Penalties for Noncompliance
§ 10-3-411. Penalties for Noncompliance
§ 10-3-412. Review of Action While Under Direct Supervision
§ 10-3-413. Appeal From Final Determination or Order of Commissioner