SENATE BILL 97224
BY SENATORS Dennis, Hernandez, and Linkhart;
also REPRESENTATIVES Owen and Swenson.
CONCERNING POLICIES OF INCOME SENSITIVE MOTOR VEHICLE
INSURANCE.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. 104706
(3) (h) and (5), Colorado Revised Statutes, 1994 Repl. Vol., are
amended to read:
104706. Required coverages
complying policies PIP examination program.
(3) (h) For the first year an insurer offers the
coverages authorized in this subsection (3), such insurer shall
demonstrate in rate filings submitted to the commissioner that
a savings of a minimum of twenty
FIFTEEN percent of the personal injury protection coverage premium
shall be realized under the plan. Any disclosure form to be used
to record an insured's election for any coverage authorized in
this subsection (3) shall be submitted to the commissioner for
preapproval.
(5) Subsections (3) and (4) of this section
and this subsection (5) are repealed, effective July 1, 1997
2002.
SECTION 2. Effective
date applicability. This act shall take
effect upon passage, and shall apply to policies written or renewed
on or after said date.
SECTION 3. Safety
clause. The general assembly hereby finds, determines, and
declares that this act is necessary for the immediate preservation
of the public peace, health, and safety.
____________________________ ____________________________
Tom Norton Charles E. Berry
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________ ____________________________
Joan M. Albi Judith M. Rodrigue
SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
APPROVED________________________________________
_________________________________________
Roy Romer
GOVERNOR OF THE STATE
OF COLORADO