HB 22-1398

  • Colorado House Bill
  • 2022 Regular Session
  • Introduced in House Apr 29, 2022
  • Passed House Apr 29, 2022
  • Passed Senate May 04, 2022
  • Signed by Governor May 27, 2022

Insurance Companies' Registered Agents

Abstract

Under current law, with certain exceptions, an insurance company that is formed by authority of any other state or government (foreign insurance company) may not transact business in Colorado until it has first appointed, in writing, the commissioner of insurance (commissioner) to be the true and lawful attorney of the company in and for Colorado, upon whom all lawful process in any action or proceeding against the company may be served with the same effect as if the company existed in Colorado. However, an insurance company that maintains a home office or regional home office in Colorado is not subject to this requirement but must instead file with the commissioner the name of a person designated to receive service of process. The bill removes the requirement that a foreign insurance company appoint the commissioner as its lawful attorney for receipt of service of process and instead requires each insurance company to designate a registered agent for receipt of service of process regardless of whether the insurance company maintains a home office or regional home office in Colorado. However, service of process may be made on the commissioner if: An insurance company fails to appoint or maintain a registered agent as required; An insurance company's registered agent cannot be found with reasonable diligence; or An insurance company's certificate of authority is revoked. If an individual reasonably relies on the list of registered agents maintained by the commissioner and serves otherwise valid process on the registered agent of an insurance company so designated in the list, and it is later determined that the registered agent listed by the commissioner is not the correct registered agent properly designated by the company, then: The individual may serve process upon the commissioner; and If the individual uses due diligence to serve the commissioner, the applicable statute of limitations is tolled for the period of time beginning when the incorrect registered agent received service of process and ending when the commissioner receives service of process.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Bill Sponsors (4)

Votes


May 04, 2022

Apr 29, 2022

Actions


May 27, 2022

Office of the Governor

Governor Signed

May 20, 2022

Office of the Governor

Sent to the Governor

Senate

Signed by the President of the Senate

House

Signed by the Speaker of the House

May 04, 2022

Senate

Senate Third Reading Passed - No Amendments

May 03, 2022

Senate

Senate Second Reading Special Order - Passed - No Amendments

May 02, 2022

Senate

Senate Committee on Business, Labor, & Technology Refer Unamended - Consent Calendar to Senate Committee of the Whole

  • Committee-Passage
Business, Labor, & Technology

Apr 29, 2022

Senate

Introduced In Senate - Assigned to Business, Labor, & Technology

  • Introduction
Business, Labor, & Technology

House

House Third Reading Passed - No Amendments

Apr 28, 2022

House

House Second Reading Special Order - Passed - No Amendments

Apr 27, 2022

House

House Committee on Business Affairs & Labor Refer Unamended to House Committee of the Whole

  • Committee-Passage
  • Referral-Committee
House Committee of the Whole Business Affairs & Labor

Apr 25, 2022

House

Introduced In House - Assigned to Business Affairs & Labor

  • Introduction
Business Affairs & Labor

Bill Text

Bill Text Versions Format
Signed Act (05/27/2022) PDF
Final Act (05/20/2022) PDF
Rerevised (05/04/2022) PDF
Revised (05/03/2022) PDF
Reengrossed (04/29/2022) PDF
Engrossed (04/28/2022) PDF
Introduced (04/25/2022) PDF
Committee Amendment PDF

Related Documents

Document Format
Fiscal Note FN1 (04/27/2022) PDF

Sources

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