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Public Participate Review Acquire Control Insurer

Concerning public participation in the review by the commissioner of insurance of the acquisition of control of an insurer that offers health plans, and, in connection therewith, making an appropriation.
2017 Regular Session
Bill Summary

Current law requires an opportunity for public notice and a hearing for proposed transactions that would result in the acquisition of control of a domestic insurer, which is one that is incorporated or formed pursuant to Colorado law. Section 1 of the bill expands the public notice for acquisition of a domestic insurer that offers health plans by requiring the commissioner of insurance to make certain information available for public inspection if the application presents prima facie evidence of a violation of the competitive standards established by law. Section 2 appropriates $9,505 from the division of insurance cash fund, which is reappropriated to the department of law for implementation of the act along with 0.1 FTE.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)


Became Law


Bill Text

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The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details