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Keyword: pinnacolassurance

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  • AG says Pinnacol assets off-limits ( Colorado DUmmies will be upset )

    04/11/2009 9:14:35 AM PDT · by george76 · 10 replies · 568+ views
    The Denver Post ^ | 04/11/2009 | Tim Hoover
    Attorney General John Suthers said Friday that a plan by Colorado lawmakers to tap a workers' compensation fund for $500 million to balance the state budget is unconstitutional and impossible to defend in court. "Pinnacol's funds are not assets of the state and Pinnacol's policyholders have vested rights in any surplus funds," wrote Solicitor General Dan Domenico in a legal analysis that Suthers, a Republican, asked him to prepare. Seizing the money "would violate the Colorado Constitution." Domenico also wrote that he could not "envision how our office would make a good-faith defense of such an action," and even if...