Whenever it appears to the commissioner that a person has committed a violation of this part 8 that makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner may, after giving notice and an opportunity to be heard, suspend, revoke, or refuse to renew the insurer's license or authority to do business in this state for such period as the commissioner finds is required for the protection of policyholders or the public. The determination must be accompanied by specific findings of fact and conclusions of law.
Source: L. 2014: Entire part R&RE, (SB 14-152), ch. 312, p. 1352, § 2, effective July 1.
Editor's note: This section is similar to former § 10-3-812 as it existed prior to 2014.
Structure Colorado Code
Article 3 - Regulation of Insurance Companies
Part 8 - Insurance Holding Company Systems
§ 10-3-802. Subsidiaries of Insurers
§ 10-3-803. Acquisition of Control of or Merger With Domestic Insurer - Definitions
§ 10-3-803.5. Acquisitions Involving Insurers Not Otherwise Covered - Definitions
§ 10-3-804. Registration of Insurers
§ 10-3-805. Standards and Management of an Insurer Within an Insurance Holding Company System
§ 10-3-807. Supervisory Colleges
§ 10-3-808. Confidential Treatment
§ 10-3-811. Criminal Proceedings - Civil Penalties - Definition
§ 10-3-813. Revocation, Suspension, or Nonrenewal of Insurer's License
§ 10-3-814. Judicial Review - Mandamus