Colorado 2025 Regular Session

Colorado Senate Bill SB058 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
	1	+	First Regular Session
	2	+	Seventy-fifth General Assembly
	3	+	STATE OF COLORADO
	4	+	REREVISED
	5	+	This Version Includes All Amendments
	6	+	Adopted in the Second House
	7	+	LLS NO. 25-0364.01 Renee Leone x2695
1	8		SENATE BILL 25-058
2		-	~~BY SENATOR(S) Snyder,~~ ~~Michaelson Jenet, Mullica;~~
3		-	~~also REPRESENTATIVE(S) Rydin and Gonzalez R., Bacon,~~ ~~Brown,~~
4		-	~~Clifford, Duran,~~ ~~Hamrick, Keltie,~~ ~~Marshall.~~
	9	+	Senate Committees House Committees
	10	+	Health & Human Services Business Affairs & Labor
	11	+	A BILL FOR AN ACT
5	12		C
6		-	ONCERNING A MODEL ACT TO PROVIDE A FRAMEWORK THAT ALLOWS
7		-	INSURANCE COMPANIES TO GIVE REBATES THAT MEET SPECIFIED
8		-	CRITERIA TO MAINTAIN CONSUMER PROTECTIONS
9		-	.
10		-
11		-	Be it enacted by the General Assembly of the State of Colorado:
	13	+	ONCERNING A MODEL ACT TO PROVIDE A FRAMEWORK THAT ALLOWS101
	14	+	INSURANCE COMPANIES TO GIVE REBATES THAT MEET SPECIFIED102
	15	+	CRITERIA TO MAINTAIN CONSUMER PROTECTIONS .103
	16	+	Bill Summary
	17	+	(Note: This summary applies to this bill as introduced and does
	18	+	not reflect any amendments that may be subsequently adopted. If this bill
	19	+	passes third reading in the house of introduction, a bill summary that
	20	+	applies to the reengrossed version of this bill will be available at
	21	+	http://leg.colorado.gov
	22	+	.)
	23	+	The bill creates the "Model Rebate Reform Act" to modernize the
	24	+	law concerning insurance rebates by recognizing new insurance products
	25	+	while maintaining necessary consumer protections. The bill allows an
	26	+	insurer or insurance producer to give a gift valued under $250 in
	27	+	connection with the marketing, purchase, or retention of an insurance
	28	+	HOUSE
	29	+	3rd Reading Unamended
	30	+	April 1, 2025
	31	+	HOUSE
	32	+	Amended 2nd Reading
	33	+	March 31, 2025
	34	+	SENATE
	35	+	3rd Reading Unamended
	36	+	March 4, 2025
	37	+	SENATE
	38	+	Amended 2nd Reading
	39	+	March 3, 2025
	40	+	SENATE SPONSORSHIP
	41	+	Snyder, Michaelson Jenet, Mullica
	42	+	HOUSE SPONSORSHIP
	43	+	Rydin and Gonzalez R., Bacon, Brown, Clifford, Duran, Hamrick, Keltie, Marshall
	44	+	Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
	45	+	Capital letters or bold & italic numbers indicate new material to be added to existing law.
	46	+	Dashes through the words or numbers indicate deletions from existing law. contract and to conduct a free raffle or drawing with prizes valued up to
	47	+	$500.
	48	+	Additionally, the bill provides that an insurer or insurance
	49	+	producer may give a free or discounted product or service in conjunction
	50	+	with or related to an insurance contract if the product or service:
	51	+	! Is intended to educate about, assess, monitor, control,
	52	+	mitigate, or protect an individual against loss of life, health,
	53	+	or property; or
	54	+	! Has a nexus to or enhances the value of the insurance
	55	+	benefits.
	56	+	Next, the bill provides that an insurer or insurance producer may
	57	+	provide an additional free or discounted service if the service is at least
	58	+	tangentially related to an insurance contract or the administration of an
	59	+	insurance contract, the receipt of the service is not contingent on the
	60	+	purchase of insurance, and the service is offered on the same terms to all
	61	+	potential insurance customers. Before the purchase of insurance, receipt
	62	+	of a quote for insurance, or designation of an agent of record, the insurer
	63	+	or insurance producer providing the service shall disclose in writing to the
	64	+	recipient that receipt of the service is not contingent on the purchase of
	65	+	insurance.
	66	+	Lastly, the bill permits the commissioner of insurance to adopt
	67	+	rules as necessary to effectuate the provisions of the bill, including
	68	+	adjusting the financial limitations on gifts and prizes as necessary for
	69	+	inflation.
	70	+	Be it enacted by the General Assembly of the State of Colorado:1
12	71		SECTION 1. In Colorado Revised Statutes, 10-3-1104, amend
13		-	(1)(g) and (2) introductory portion; and add (2)(e), (2.1), (2.2), (2.3), (2.4),
14		-	(2.5), (2.6), (2.7), and (6) as follows:
15		-	10-3-1104. Unfair methods of competition - unfair or deceptive
16		-	practices - rules - definitions. (1) The following are defined as unfair
17		-	methods of competition and unfair or deceptive acts or practices in the
18		-	business of insurance:
	72	+	2
	73	+	(1)(g) and (2) introductory portion; and add (2)(e), (2.1), (2.2), (2.3),3
	74	+	(2.4), (2.5), (2.6), (2.7), and (6) as follows:4
	75	+	10-3-1104. Unfair methods of competition - unfair or deceptive5
	76	+	practices - rules - definitions. (1) The following are defined as unfair6
	77	+	methods of competition and unfair or deceptive acts or practices in the7
	78	+	business of insurance:8
19	79		(g) Rebates: Except as
20	80		OTHERWISE PROVIDED IN THIS SECTION AND
21		-	AS
22		-	otherwise expressly provided by law, knowingly permitting, or offering
23		-	to make, or making any contract of insurance or agreement as to such
24		-	NOTE: This bill has been prepared for the signatures of the appropriate legislative
25		-	officers and the Governor. To determine whether the Governor has signed the bill
26		-	or taken other action on it, please consult the legislative status sheet, the legislative
27		-	history, or the Session Laws.
28		-	________
29		-	Capital letters or bold & italic numbers indicate new material added to existing law; dashes
30		-	through words or numbers indicate deletions from existing law and such material is not part of
31		-	the act. contract, other than as plainly expressed in the insurance contract issued
32		-	thereon, or paying, or allowing, or giving, or offering to pay, allow, or give,
33		-	directly or indirectly, as inducement to such insurance or annuity, any rebate
34		-	of premiums payable on the contract, or any special favor or advantage in
35		-	the dividends or other benefits thereon
36		-	ON THE CONTRACT OR ANNUITY , or
37		-	any valuable consideration or inducement whatever not specified in the
38		-	contract; or giving, or
39		-	selling, or purchasing, or offering to give, sell, or
40		-	purchase, as inducement to such insurance contract or annuity or in
41		-	connection therewith
42		-	WITH THE INSURANCE CONTRACT OR ANNUITY , any
43		-	stocks, bonds, or other securities of any insurance company or other
44		-	corporation, association, or partnership, or any dividends or profits accrued
45		-	thereon
46		-	ON THE STOCKS, BONDS, OR OTHER SECURITIES, or anything of value
47		-	whatsoever not specified in the contract;
48		-	(2) Nothing in paragraph (f) or (g) of subsection (1) SUBSECTION
49		-	(1)(f) OR (1)(g) of this section shall be construed as including within the
50		-	definition of discrimination or rebates any of the following practices:
	81	+	9
	82	+	AS otherwise expressly provided by law, knowingly permitting, or10
	83	+	offering to make, or making any contract of insurance or agreement as to11
	84	+	058-2- such contract, other than as plainly expressed in the insurance contract1
	85	+	issued thereon, or paying, or allowing, or giving, or offering to pay,2
	86	+	allow, or give, directly or indirectly, as inducement to such insurance or3
	87	+	annuity, any rebate of premiums payable on the contract, or any special4
	88	+	favor or advantage in the dividends or other benefits thereon ON THE5
	89	+	CONTRACT OR ANNUITY , or any valuable consideration or inducement6
	90	+	whatever not specified in the contract; or giving, or selling, or purchasing,7
	91	+	or offering to give, sell, or purchase, as inducement to such insurance8
	92	+	contract or annuity or in connection therewith WITH THE INSURANCE9
	93	+	CONTRACT OR ANNUITY , any stocks, bonds, or other securities of any10
	94	+	insurance company or other corporation, association, or partnership, or11
	95	+	any dividends or profits accrued thereon ON THE STOCKS, BONDS, OR12
	96	+	OTHER SECURITIES, or anything of value whatsoever not specified in the13
	97	+	contract;14
	98	+	(2) Nothing in paragraph (f) or (g) of subsection (1) SUBSECTION15
	99	+	(1)(f)
	100	+	OR (1)(g) of this section shall be construed as including within the
	101	+	16
	102	+	definition of discrimination or rebates any of the following practices:17
51	103		(e) O
52	104		FFERING OR PROVIDING, BY OR THROUGH AN EMPLOYEE ,
53		-	AFFILIATE, OR THIRD-PARTY REPRESENTATIVE OF AN INSURER OR INSURANCE
54		-	PRODUCER
55		-	, A VALUE-ADDED PRODUCT OR SERVICE AT NO COST OR REDUCED
56		-	COST
57		-	, WHEN THE PRODUCT OR SERVICE IS NOT SPECIFIED IN THE INSURANCE
58		-	POLICY
59		-	, IF THE PRODUCT OR SERVICE:
	105	+	18
	106	+	AFFILIATE, OR THIRD-PARTY REPRESENTATIVE OF AN INSURER OR19
	107	+	INSURANCE PRODUCER, A VALUE-ADDED PRODUCT OR SERVICE AT NO COST20
	108	+	OR REDUCED COST, WHEN THE PRODUCT OR SERVICE IS NOT SPECIFIED IN21
	109	+	THE INSURANCE POLICY, IF THE PRODUCT OR SERVICE:22
60	110		(I) R
61	111		ELATES TO THE INSURANCE COVERAGE ; AND
62		-	(II) IS PRIMARILY AIMED TO ACHIEVE ONE OR MORE OF THE
63		-	FOLLOWING
64		-	:
	112	+	23
	113	+	(II) I
	114	+	S PRIMARILY AIMED TO ACHIEVE ONE OR MORE OF THE
	115	+	24
	116	+	FOLLOWING:25
65	117		(A) P
66	118		ROVIDE LOSS MITIGATION OR LOSS CONTROL ;
	119	+	26
67	120		(B) R
68	121		EDUCE CLAIM COSTS OR CLAIM SETTLEMENT COSTS ;
69		-	~~(C) P~~
70		-	~~ROVIDE EDUCATION ABOUT LIABILITY RISK OR RISK OF LOSS TO~~
71		-	~~INDIVIDUALS~~ OR ~~PROPERTY~~
72		-	;
	122	+	27
	123	+	058
	124	+	-3- (C) PROVIDE EDUCATION ABOUT LIABILITY RISK OR RISK OF LOSS1
	125	+	TO INDIVIDUALS OR PROPERTY;2
73	126		(D) M
74	127		ONITOR OR ASSESS RISK, IDENTIFY SOURCES OF RISK, OR
75		-	~~DEVELOP STRATEGIES FOR ELIMINATING OR REDUCING RISK~~
76		-	;
	128	+	3
	129	+	DEVELOP STRATEGIES FOR ELIMINATING OR REDUCING RISK ;4
77	130		(E) E
78	131		NHANCE HEALTH;
79		-	PAGE 2-SENATE BILL 25-058 (F) PROMOTE FINANCIAL WELLNESS THROUGH ITEMS SUCH AS
80		-	EDUCATIONAL OR FINANCIAL PLANNING SERVICES
81		-	;
	132	+	5
	133	+	(F) P
	134	+	ROMOTE FINANCIAL WELLNESS THROUGH ITEMS SUCH AS
	135	+	6
	136	+	EDUCATIONAL OR FINANCIAL PLANNING SERVICES ;7
82	137		(G) P
83	138		ROVIDE POST-LOSS SERVICES;
	139	+	8
84	140		(H) E
85		-	NCOURAGE BEHAVIORAL CHANGES TO IMPROVE THE HEALTH OR
86		-	REDUCE THE RISK OF DEATH OR DISABILITY OF A CUSTOMER
87		-	; OR
88		-	(I) ASSIST IN THE ADMINISTRATION OF EMPLOYEE OR RETIREE
89		-	BENEFIT INSURANCE COVERAGE
90		-	.
	141	+	NCOURAGE BEHAVIORAL CHANGES TO IMPROVE THE HEALTH
	142	+	9
	143	+	OR REDUCE THE RISK OF DEATH OR DISABILITY OF A CUSTOMER ; OR10
	144	+	(I) A
	145	+	SSIST IN THE ADMINISTRATION OF EMPLOYEE OR RETIREE
	146	+	11
	147	+	BENEFIT INSURANCE COVERAGE .12
91	148		(2.1) T
92		-	HE COST TO AN INSURER OR INSURANCE PRODUCER OFFERING
93		-	A PRODUCT OR SERVICE TO A CUSTOMER PURSUANT TO SUBSECTION
94		-	(2)(e)
95		-	OF THIS SECTION MUST BE REASONABLE IN COMPARISON TO THAT
96		-	CUSTOMER
97		-	'S PREMIUMS OR INSURANCE COVERAGE .
	149	+	HE COST TO AN INSURER OR INSURANCE PRODUCER
	150	+	13
	151	+	OFFERING A PRODUCT OR SERVICE TO A CUSTOMER PURSUANT TO14
	152	+	SUBSECTION (2)(e) OF THIS SECTION MUST BE REASONABLE IN15
	153	+	COMPARISON TO THAT CUSTOMER 'S PREMIUMS OR INSURANCE COVERAGE .16
98	154		(2.2) I
99	155		F AN INSURER OR INSURANCE PRODUCER IS OFFERING A
100		-	PRODUCT OR SERVICE PURSUANT TO SUBSECTION
101		-	(2)(e) OF THIS SECTION,
102		-	THE INSURER OR INSURANCE PRODUCER SHALL PROVIDE A CUSTOMER WITH
103		-	CONTACT INFORMATION TO ASSIST THE CUSTOMER WITH QUESTIONS
104		-	REGARDING THE PRODUCT OR SERVICE
105		-	.
	156	+	17
	157	+	PRODUCT OR SERVICE PURSUANT TO SUBSECTION (2)(e) OF THIS SECTION,18
	158	+	THE INSURER OR INSURANCE PRODUCER SHALL PROVIDE A CUSTOMER WITH19
	159	+	CONTACT INFORMATION TO ASSIST THE CUSTOMER WITH QUESTIONS20
	160	+	REGARDING THE PRODUCT OR SERVICE .21
106	161		(2.3) T
107		-	O ENSURE CONSUMER PROTECTION WHILE IMPLEMENTING THE
108		-	PERMITTED PRACTICES SET FORTH IN SUBSECTION
109		-	(2) OF THIS SECTION, THE
110		-	COMMISSIONER MAY ADOPT RULES TO IMPLEMENT AND ENFORCE
111		-	SUBSECTIONS
112		-	(2) TO (2.7) OF THIS SECTION.
	162	+	O ENSURE CONSUMER PROTECTION WHILE IMPLEMENTING
	163	+	22
	164	+	THE PERMITTED PRACTICES SET FORTH IN SUBSECTION (2) OF THIS SECTION,23
	165	+	THE COMMISSIONER MAY ADOPT RULES TO IMPLEMENT AND ENFORCE24
	166	+	SUBSECTIONS (2) TO (2.7) OF THIS SECTION.25
113	167		(2.4) T
114	168		HE AVAILABILITY OF A PRODUCT OR SERVICE OFFERED
115		-	PURSUANT TO SUBSECTION
116		-	(2)(e) OF THIS SECTION MUST BE:
117		-	(a) B
118		-	ASED ON DOCUMENTED , OBJECTIVE CRITERIA THAT IS
119		-	MAINTAINED BY THE INSURER OR INSURANCE PRODUCER AND MUST BE
120		-	PRODUCED UPON REQUEST BY THE DIVISION
121		-	; AND
122		-	(b) OFFERED IN A MANNER THAT IS NOT UNFAIRLY DISCRIMINATORY .
	169	+	26
	170	+	PURSUANT TO SUBSECTION (2)(e) OF THIS SECTION MUST BE:27
	171	+	058
	172	+	-4- (a) BASED ON DOCUMENTED , OBJECTIVE CRITERIA THAT IS1
	173	+	MAINTAINED BY THE INSURER OR INSURANCE PRODUCER AND MUST BE2
	174	+	PRODUCED UPON REQUEST BY THE DIVISION ; AND3
	175	+	(b) O
	176	+	FFERED IN A MANNER THAT IS NOT UNFAIRLY
	177	+	4
	178	+	DISCRIMINATORY.5
123	179		(2.5) (a) I
124	180		F AN INSURER OR INSURANCE PRODUCER DOES NOT HAVE
125		-	SUFFICIENT EVIDENCE BUT HAS A GOOD FAITH BELIEF THAT A PR ODUCT OR
126		-	SERVICE MEETS THE CRITERIA SET FORTH IN SUBSECTIONS
127		-	(2)(e)(II)(A) TO
128		-	(2)(e)(II)(I) OF THIS SECTION, THE INSURER OR INSURANCE PRODUCER SHALL
129		-	PAGE 3-SENATE BILL 25-058 PROVIDE THE PRODUCT OR SERVICE IN A MANNER THAT IS NOT UNFAIRLY
130		-	DISCRIMINATORY AS PART OF A PILOT OR TESTING PROGRAM FOR NO MORE
131		-	THAN ONE YEAR
132		-	.
	181	+	6
	182	+	SUFFICIENT EVIDENCE BUT HAS A GOOD FAITH BELIEF THAT A PRODUCT OR7
	183	+	SERVICE MEETS THE CRITERIA SET FORTH IN SUBSECTIONS (2)(e)(II)(A) TO8
	184	+	(2)(e)(II)(I)
	185	+	OF THIS SECTION, THE INSURER OR INSURANCE PRODUCER
	186	+	9
	187	+	SHALL PROVIDE THE PRODUCT OR SERVICE IN A MANNER THAT IS NOT10
	188	+	UNFAIRLY DISCRIMINATORY AS PART OF A PILOT OR TESTING PROGRAM FOR11
	189	+	NO MORE THAN ONE YEAR.12
133	190		(b) (I) A
134	191		N INSURER OR INSURANCE PRODUCER SHALL NOTIFY AND
135		-	~~RECEIVE APPROVAL FROM THE DIVISION FOR A PILOT OR TESTING PROGRAM~~
136		-	~~PRIOR TO LAUNCHING~~ THE ~~PROGRAM~~
137		-	.
	192	+	13
	193	+	RECEIVE APPROVAL FROM THE DIVISION FOR A PILOT OR TESTING PROGRAM14
	194	+	PRIOR TO LAUNCHING THE PROGRAM .15
138	195		(II) T
139	196		HE DIVISION SHALL APPROVE OR DENY A PILOT OR TESTING
140		-	~~PROGRAM NO LATER THAN THIRTY DAYS AFTER RECEIVING NOTIFICATION~~
141		-	~~PURSUANT TO SUBSECTION~~
142		-	(2.5)(b)(I) OF THIS SECTION.
	197	+	16
	198	+	PROGRAM NO LATER THAN THIRTY DAYS AFTER RECEIVING NOTIFICATION17
	199	+	PURSUANT TO SUBSECTION (2.5)(b)(I) OF THIS SECTION.18
143	200		(2.6) (a) A
144	201		N INSURER OR INSURANCE PRODUCER MAY :
	202	+	19
145	203		(I) O
146	204		FFER OR GIVE A NONCASH GIFT, ITEM, OR SERVICE, INCLUDING
147		-	A MEAL OR CHARITABLE DONATION
148		-	, TO OR ON BEHALF OF A CUSTOMER IN
149		-	CONNECTION WITH THE MARKETING
150		-	, SALE, PURCHASE, OR RETENTION OF AN
151		-	INSURANCE CONTRACT IF THE COST DOES NOT EXCEED AN AMOUNT
152		-	DETERMINED TO BE REASONABLE BY THE COMMISSIONER PER POLICY YEAR
153		-	PER TERM
154		-	; OR
155		-	(II) OFFER OR GIVE A NONCASH GIFT, ITEM, OR SERVICE, INCLUDING
156		-	A MEAL OR CHARITABLE DONATION
157		-	, TO OR ON BEHALF OF A CUSTOMER ,
158		-	INCLUDING A COMMERCIAL OR INSTITUTIONAL CUSTOMER , IN CONNECTION
159		-	WITH THE MARKETING
160		-	, SALE, PURCHASE, OR RETENTION OF AN INSURANCE
161		-	CONTRACT IF
162		-	:
	205	+	20
	206	+	A MEAL OR CHARITABLE DONATION , TO OR ON BEHALF OF A CUSTOMER IN21
	207	+	CONNECTION WITH THE MARKETING , SALE, PURCHASE, OR RETENTION OF22
	208	+	AN INSURANCE CONTRACT IF THE COST DOES NOT EXCEED AN AMOUNT23
	209	+	DETERMINED TO BE REASONABLE BY THE COMMISSIONER PER POLICY YEAR24
	210	+	PER TERM; OR25
	211	+	(II) O
	212	+	FFER OR GIVE A NONCASH GIFT , ITEM, OR SERVICE,
	213	+	26
	214	+	INCLUDING A MEAL OR CHARITABLE DONATION , TO OR ON BEHALF OF A27
	215	+	058
	216	+	-5- CUSTOMER, INCLUDING A COMMERCIAL OR INSTITUTIONAL CUSTOMER , IN1
	217	+	CONNECTION WITH THE MARKETING , SALE, PURCHASE, OR RETENTION OF2
	218	+	AN INSURANCE CONTRACT IF:3
163	219		(A) T
164	220		HE COST IS REASONABLE IN COMPARISON TO THE PREMIUM OR
165		-	PROPOSED PREMIUM
166		-	; AND
167		-	(B) THE COST OF THE GIFT, ITEM, OR SERVICE IS NOT INCLUDED IN
168		-	ANY AMOUNT CHARGED TO ANOTHER PERSON OR ENTITY
169		-	.
	221	+	4
	222	+	PROPOSED PREMIUM; AND5
	223	+	(B) T
	224	+	HE COST OF THE GIFT, ITEM, OR SERVICE IS NOT INCLUDED IN
	225	+	6
	226	+	ANY AMOUNT CHARGED TO ANOTHER PERSON OR ENTITY .7
170	227		(b) (I) A
171		-	NY OFFER OR GIFT MADE PURSUANT TO THIS SUBSECTION
172		-	(2.6) MUST BE OFFERED IN A MANNER THAT IS NOT UNFAIRLY
173		-	DISCRIMINATORY
174		-	.
	228	+	NY
	229	+	OFFER OR GIFT MADE PURSUANT TO THIS SUBSECTION8
	230	+	(2.6)
	231	+	MUST BE OFFERED IN A MANNER THAT IS NOT UNFAIRLY
	232	+	9
	233	+	DISCRIMINATORY.10
175	234		(II) A
176	235		N INSURER OR INSURANCE PRODUCER SHALL NOT REQUIRE A
177		-	CUSTOMER TO PURCHASE
178		-	, CONTINUE, OR RENEW AN INSURANCE POLICY IN
179		-	EXCHANGE FOR A GIFT
180		-	, ITEM, OR SERVICE RECEIVED PURSUANT TO THIS
181		-	PAGE 4-SENATE BILL 25-058 SUBSECTION (2.6).
	236	+	11
	237	+	CUSTOMER TO PURCHASE, CONTINUE, OR RENEW AN INSURANCE POLICY IN12
	238	+	EXCHANGE FOR A GIFT, ITEM, OR SERVICE RECEIVED PURSUANT TO THIS13
	239	+	SUBSECTION (2.6).14
182	240		(2.7) E
183		-	XCEPT AS APPLIED TO AN INSURER OR INSURANCE PRODUCER 'S
184		-	OFFER OF A VALUE
185		-	-ADDED PRODUCT OR SERVICE , AN INSURER OR INSURANCE
186		-	PRODUCER SHALL NOT
187		-	:
	241	+	XCEPT AS APPLIED TO AN INSURER OR INSURANCE
	242	+	15
	243	+	PRODUCER'S OFFER OF A VALUE-ADDED PRODUCT OR SERVICE, AN INSURER16
	244	+	OR INSURANCE PRODUCER SHALL NOT :17
188	245		(a) O
189	246		FFER OR PROVIDE INSURANCE AS AN INDUCEMENT TO THE
190		-	PURCHASE OF ANOTHER POLICY
191		-	; OR
192		-	(b) USE THE WORDS "FREE" OR "NO COST" OR WORDS OF SIMILAR
193		-	IMPORT IN AN ADVERTISEMENT
194		-	.
	247	+	18
	248	+	PURCHASE OF ANOTHER POLICY ; OR19
	249	+	(b) U
	250	+	SE THE WORDS "FREE" OR "NO COST" OR WORDS OF SIMILAR
	251	+	20
	252	+	IMPORT IN AN ADVERTISEMENT.21
195	253		(6) A
196	254		S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE
197		-	~~REQUIRES~~
198		-	:
	255	+	22
	256	+	REQUIRES:23
199	257		(a) "C
200	258		USTOMER" INCLUDES A POLICYHOLDER , POTENTIAL
201		-	~~POLICYHOLDER~~
202		-	, CERTIFICATE HOLDER, POTENTIAL CERTIFICATE HOLDER ,
203		-	INSURED, POTENTIAL INSURED, OR APPLICANT.
	259	+	24
	260	+	POLICYHOLDER, CERTIFICATE HOLDER, POTENTIAL CERTIFICATE HOLDER,25
	261	+	INSURED, POTENTIAL INSURED, OR APPLICANT.26
204	262		(b) "I
205	263		NSURANCE PRODUCER " HAS THE MEANING SET FORTH IN
206		-	SECTION
207		-	10-2-103 (6).
208		-	SECTION 2. Act subject to petition - effective date -
209		-	applicability. (1) This act takes effect at 12:01 a.m. on the day following
210		-	the expiration of the ninety-day period after final adjournment of the
211		-	general assembly; except that, if a referendum petition is filed pursuant to
212		-	section 1 (3) of article V of the state constitution against this act or an item,
213		-	section, or part of this act within such period, then the act, item, section, or
214		-	part will not take effect unless approved by the people at the general
215		-	election to be held in November 2026 and, in such case, will take effect on
216		-	the date of the official declaration of the vote thereon by the governor.
217		-	PAGE 5-SENATE BILL 25-058 (2) This act applies to conduct occurring on or after the applicable
218		-	effective date of this act.
219		-	____________________________ ____________________________
220		-	James Rashad Coleman, Sr. Julie McCluskie
221		-	PRESIDENT OF SPEAKER OF THE HOUSE
222		-	THE SENATE OF REPRESENTATIVES
223		-	____________________________ ____________________________
224		-	Esther van Mourik Vanessa Reilly
225		-	SECRETARY OF CHIEF CLERK OF THE HOUSE
226		-	THE SENATE OF REPRESENTATIVES
227		-	APPROVED________________________________________
228		-	(Date and Time)
229		-	_________________________________________
230		-	Jared S. Polis
231		-	GOVERNOR OF THE STATE OF COLORADO
232		-	PAGE 6-SENATE BILL 25-058
	264	+	27
	265	+	058
	266	+	-6- SECTION 10-2-103 (6).1
	267	+	SECTION 2. Act subject to petition - effective date -2
	268	+	applicability. (1) This act takes effect at 12:01 a.m. on the day following3
	269	+	the expiration of the ninety-day period after final adjournment of the4
	270	+	general assembly; except that, if a referendum petition is filed pursuant5
	271	+	to section 1 (3) of article V of the state constitution against this act or an6
	272	+	item, section, or part of this act within such period, then the act, item,7
	273	+	section, or part will not take effect unless approved by the people at the8
	274	+	general election to be held in November 2026 and, in such case, will take9
	275	+	effect on the date of the official declaration of the vote thereon by the10
	276	+	governor.11
	277	+	(2) This act applies to conduct occurring on or after the applicable12
	278	+	effective date of this act.13
	279	+	058
	280	+	-7-