CO HB1398

Foreign insurance companies must appoint and file a registered agent with the Colorado Insurance Commissioner to receive service of process before conducting business in the state.

The Commissioner must maintain a publicly available list of registered agents designated by insurance companies and insurance companies must report any changes to their registered agent within ten days.

Service of process may be made directly on the Commissioner if an insurance company fails to maintain a registered agent, the registered agent cannot be found with reasonable diligence, or the company's certificate of authority is revoked.

If an individual relies on the Commissioner's registered agent list and serves process on an incorrect agent listed by the Commissioner, the individual may subsequently serve the Commissioner and the statute of limitations is tolled from when the incorrect agent received service until the Commissioner receives service.

The act takes effect 90 days after final adjournment of the general assembly, subject to voter approval at the November 2022 general election if a referendum petition is filed.