Susan Lontine
- Democratic
Primary
Federal law preempts the extraterritorial application of state credit for reinsurance law but permits a state to enact reinsurance collateral reforms on an individual basis if the state is accredited. The act enacts a model law adopted by the National Association of Insurance Commissioners (NAIC), which is necessary to maintain the continued accreditation of the Colorado division of insurance with the NAIC and makes Colorado's reinsurance statutes substantially similar to those found in other states. The model law specifies the grounds upon which a domestic insurer can get credit in Colorado for reinsurance provided by an assuming insurer that is domiciled in an extraterritorial jurisdiction and thereby avoids federal preemption that would otherwise occur by 2022.(Note: This summary applies to this bill as enacted.)
Governor Signed
Sent to the Governor
Signed by the President of the Senate
Signed by the Speaker of the House
Senate Third Reading Passed - No Amendments
Senate Second Reading Passed - No Amendments
Senate Committee on Business, Labor, & Technology Refer Unamended to Senate Committee of the Whole
Introduced In Senate - Assigned to Business, Labor, & Technology
House Third Reading Passed - No Amendments
House Second Reading Passed - No Amendments
House Committee on Health & Insurance Refer Unamended to House Committee of the Whole
| Bill Text Versions | Format |
|---|---|
| Signed Act (04/19/2021) | |
| Final Act (04/09/2021) | |
| Rerevised (04/05/2021) | |
| Revised (04/01/2021) | |
| Reengrossed (03/02/2021) | |
| Engrossed (03/01/2021) | |
| Introduced (02/16/2021) | |
| Committee Amendment |
| Document | Format |
|---|---|
| Fiscal Note FN1 (02/16/2021) | |
| Fiscal Note FN2 (07/29/2021) |
Data on Open States is updated periodically throughout the day from the official website of the Colorado General Assembly.
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