Statute text
The provisions of sections 10-7-102 and 10-7-103 shall not apply to annuities, industrial policies, or corporations or associations operating on the assessment or fraternal plan; except that the commissioner may review variable annuities to ensure that such products are offered, marketed, or sold to a market suitable for such product.
History
Source: L. 13: p. 352, 45. C.L. 2518. CSA: C. 87, 59. CRS 53: 72-3-6. C.R.S. 1963: 72-3-6. L. 2004: Entire section amended, p. 520, 9, effective July 1.
Annotations
ANNOTATION
Annotations
Provisions of 10-7-102 not applicable to fraternal societies. Where the decedent obtained membership in a fraternal benefit society to which his true age made him ineligible and which society is specifically excepted by this section, from the operation of 10-7-102, it was held that an action by the beneficiary was not maintainable. Wiltshire v. Modern Woodmen of Am., 76 Colo. 460, 232 P. 925 (1925).