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Code of Colorado Regulations eDocket
Official Publication of the State Administrative Rules (24-4-103(11) C.R.S.)

Details of Tracking Number  2020-00901


CCR details

Tracking Number 2020-00901
Type of Filing Permanent Rule
Department 700 Department of Regulatory Agencies
Agency 702 Division of Insurance
CCR Number 3 CCR 702-3
CCR Title FINANCIAL ISSUES

Proposed rule

Notice Filed with SOS 11/30/2020
Rule ProposedRuleAttach2020-00901.doc
Statutory Authority §§10-1-108(7), 10-1-109, 10-1-203, 10-3-109, 10-3-208, 10-5-117, 10-6-114, 10-6-129, 10-14-505, 10-14-602, 10-16-109, 10-16-111 and 8-45-121 C.R.S.
Description of Subjects/Issues The purpose of this regulation is to improve the Division’s surveillance of the financial condition of companies by requiring: (1) an annual audit of financial statements reporting the financial position and the results of operations of companies by independent certified public accountants, (2) Communication of Internal Control Related Matters Noted in an Audit, and (3) Management’s Report of Internal Control over Financial Reporting. This regulation shall not prohibit, preclude or in any way limit the Commissioner from ordering or conducting or performing examinations of companies under the rules and regulations of the Division and the practices and procedures of the Division.
Comments Due to concerns with the spread of COVID-19, this Permanent Rulemaking Hearing will be held via WEBINAR ONLY, unless the COVID-19 State of Emergency is lifted by the date of the hearing. Please click on the link below or visit the Division of Insurance's website on the Notice of Rulemaking Hearings/Proposed Regulations" page, which is located under the link to "Statutes, Regulations and Bulletins" found on the main page. https://www.colorado.gov/pacific/dora/notice-rule-making-hearings-proposed-regulations Please register here to attend the hearing via webinar: https://attendee.gotowebinar.com/register/644403285646661647 Webinar ID: 365-933-803 After registering, you will receive a confirmation email containing information about joining the webinar. Participants can use their telephone or computer mic & speakers (VoIP). UNITED STATES +1 (631) 992-3221 AUDIO PIN: 993-533-652
Submitted in response to issues raised by COLS/OLLS?
Is this rule adopted in response to recent legislation?
Hearing Date 01/05/2021
Hearing Time 10:00 AM
Hearing Location Webinar or 1560 Broadway, Suite 110D, Denver, CO 80202
Contact Name Christine Ferrer
Contact Title Rulemaking Coordinator
Contact Telephone 3038942157
Contact email christine.gonzales-ferrer@state.co.us

Adopted rule

Adopted Rules
Redline
AGO requested date

Termination information

Date 06/15/2021
Reason After further consideration, the Division is no longer seeking changes to this regulation.