CO HB1043

Allows life care institutions to post a surety bond in a form acceptable to the commissioner as one option for meeting reserve requirements under Colorado Revised Statutes 11-49-105(2)

Changes statutory language from "shall consist of" to "MUST consist OF ONE OR MORE" to clarify that reserves can be composed of multiple forms including the new surety bond option

Became effective on August 2, 2019, or 90 days after the general assembly's final adjournment, whichever occurred later

Subject to referendum petition provisions; would have required voter approval at the November 2020 general election if a referendum petition was filed within 90 days of adjournment

Applies retroactively to any compliance with reserve requirements occurring on or after the bill's effective date