Colorado Legislative Council Staff
NO FISCAL IMPACT
January 27, 1999
Will Meyer (303-866-4976)
TITLE: CONCERNING THE CONCEPT OF PERMISSIBLE USE IN THE CONTEXT OF THE COLORADO NO-FAULT INSURANCE LAWS, AND, IN CONNECTION THEREWITH, DEFINING CONVERTER.
Summary of Assessment
This bill defines the term “converter” for purposes of the Colorado no-fault automobile insurance laws. It defines “converter” to mean a person who uses a motor vehicle in an unauthorized manner, as described in the Restatement (Second) of Torts. The bill would become effective upon signature of the Governor.
The provisions in this bill will affect the liability of automobile insurers with respect to unauthorized use of a vehicle of a named insured. The provisions of the bill will not affect any state agency or unit of local government. Therefore, this bill is assessed as having no fiscal impact.
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