Colo. Rev. Stat. § 24-51-1302
Premiums for group life insurance.
Effective Jan 1, 2010L. 87: Entire article R&RE, p. 1077, § 1, effective July 1. L. 95: (1), (2), and (3) amended and (2.5) added, p. 266, § 12, effective July 1. L. 2009: (2), (2.5), and (3) amended, (SB 09-282), ch. 288, p. 1352, § 53, effective January 1, 2010.
- (1) Premiums for life insurance must be received by the association in order for an individual to be covered.
- (2) Continuation of life insurance coverage after retirement is available to any retiree from any division who, prior to retirement, authorizes life insurance premiums to be deducted from monthly benefit payments.
- (2.5) Life insurance coverage after termination of membership may continue for any inactive member who continues to pay life insurance premiums and does not receive a refund pursuant to the provisions of section 24-51-405 or part 17 of this article.
- (3) Life insurance provided pursuant to the provisions of this part 13 may be assigned by members, inactive members, or retirees, including those of the Denver public schools division.
- (4) The association shall pay no premium subsidy for life insurance.
Source: L. 87: Entire article R&RE, p. 1077, § 1, effective July 1. L. 95: (1), (2), and (3) amended and (2.5) added, p. 266, § 12, effective July 1. L. 2009: (2), (2.5), and (3) amended, (SB 09-282), ch. 288, p. 1352, § 53, effective January 1, 2010.
Editor's note: This section is similar to former § 24-51-103 as it existed prior to 1987.