Title 10, Insurance
0 chapters · 1,354 sections in this title.
Colo. Rev. Stat. § 10-3-523 Actions by and against liquidator
3.0K chars
(1) Upon issuance of an order appointing a liquidator of a domestic insurer or of an alien insurer domiciled in this state, no action at law or equity or in arbitration shall be brought against the insurer or liquidator, whether in this state or elsewhere, nor shall any such exis…
Colo. Rev. Stat. § 10-3-524 Collection and listing of assets
0.9K chars
(1) As soon as practicable after the liquidation order but not later than one hundred twenty days thereafter, the liquidator shall prepare in duplicate a list of the insurer's assets. The list shall be amended or supplemented from time to time as the liquidator may determine. One…
Colo. Rev. Stat. § 10-3-525 Fraudulent transfers prior to petition
3.8K chars
(1) Every transfer made or suffered and every obligation incurred by an insurer within one year prior to the filing of a successful petition for rehabilitation or liquidation under this part 5 is fraudulent as to then existing and future creditors if made or incurred without fair…
Colo. Rev. Stat. § 10-3-526 Fraudulent transfer after petition
3.5K chars
(1) After a petition for rehabilitation or liquidation has been filed, a transfer of any of the real property of the insurer made to a person acting in good faith shall be valid against the receiver if made for a present fair equivalent value; or, if not made for a present fair e…
Colo. Rev. Stat. § 10-3-527 Voidable preferences and liens
10.5K chars
(1) (a) A preference is a transfer of any of the property of an insurer to or for the benefit of a creditor, for or on account of an antecedent debt, made or suffered by the insurer within one year before the filing of a successful petition for liquidation under this part 5, the …
Colo. Rev. Stat. § 10-3-528 Claims of holders of void or voidable rights
1.2K chars
(1) No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment, or encumbrance voidable under this part 5 shall be allowed unless such creditor surrenders the preference, lien, conveyance, transfer, assignment, or encumbrance. If the…
Colo. Rev. Stat. § 10-3-529 Setoffs - effective date - applicability
3.4K chars
(1) Notwithstanding any other provision of this title, mutual debts or mutual credits, whether arising out of one or more contracts between the insurer and another person in connection with any action or proceeding under this part 5, shall be set off, and the balance only shall b…
Colo. Rev. Stat. § 10-3-530 Assessments
2.8K chars
(1) As soon as practicable but not more than two years after the date of an order of liquidation under section 10-3-517 of an insurer issuing assessable policies, the liquidator shall make a report to the court setting forth: (a) The reasonable value of the assets of the insurer;…
Colo. Rev. Stat. § 10-3-531 Reinsurers' liability
1.6K chars
(1) Except as otherwise provided in subsection (2) of this section, the amount recoverable by the liquidator from reinsurers shall be payable under a contract or contracts reinsured by the reinsurer on the basis of reported claims allowed by the liquidation court without diminuti…
Colo. Rev. Stat. § 10-3-532 Recovery of premiums owed
2.2K chars
(1) (a) An agent, broker, premium finance company, or any other person other than the insured that is responsible for the payment of a premium shall be obligated to pay any unpaid premium for the full policy term due the insurer at the time of the declaration of insolvency, wheth…
Colo. Rev. Stat. § 10-3-533 Domiciliary liquidator's proposal to distribute assets
3.6K chars
(1) Within one hundred twenty days after a final determination of insolvency of an insurer by a court of competent jurisdiction of this state, the liquidator shall make application to the court for approval of a proposal to disburse assets out of marshaled assets, from time to ti…
Colo. Rev. Stat. § 10-3-533.5 Sale of insolvent insurer as a going concern
3.1K chars
(1) (a) The domiciliary receiver may apply to the court for permission to sell an insolvent domestic insurer as a going concern. If the court determines that the sale of the insurer as a going concern is in the best interest of the estate and that the sale will not diminish the v…
Colo. Rev. Stat. § 10-3-534 Filing of claims
1.5K chars
(1) Proof of all claims shall be filed with the liquidator in the form required by section 10-3-535 on or before the last day for filing specified in the notice required under section 10-3-521; except that proof of claims for cash surrender values or other investment values in li…
Colo. Rev. Stat. § 10-3-535 Proof of claim
2.1K chars
(1) Proof of claim shall consist of a statement signed by the claimant that includes all of the following that are applicable: (a) The particulars of the claim, including the consideration given for it; (b) The identity and amount of the security on the claim; (c) The payments ma…
Colo. Rev. Stat. § 10-3-536 Special claims
1.0K chars
(1) The claim of a third party which is contingent only on such party's first obtaining a judgment against the insured shall be considered and allowed as though there were no such contingency. (2) A claim may be allowed, even if contingent, if it is filed in accordance with secti…
Colo. Rev. Stat. § 10-3-537 Special provisions for third-party claims
2.9K chars
(1) Whenever any third party asserts a cause of action against an insured of an insurer in liquidation, the third party may file a claim with the liquidator. (2) Whether or not the third party files a claim, the insured may file a claim on the insured's own behalf in the liquidat…
Colo. Rev. Stat. § 10-3-538 Disputed claims
1.0K chars
(1) When a claim is denied in whole or in part by the liquidator, written notice of the determination shall be given to the claimant or the claimant's attorney by first-class mail at the address shown in the proof of claim. Within sixty days after the mailing of the notice, the c…
Colo. Rev. Stat. § 10-3-539 Claims of surety
1.0K chars
Whenever a creditor whose claim against an insurer is secured, in whole or in part, by the undertaking of another person fails to prove and file that claim, such other person may do so in the creditor's name and shall be subrogated to the rights of the creditor, whether the claim…
Colo. Rev. Stat. § 10-3-540 Secured creditors' claims
0.8K chars
(1) The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct: (a) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditor; or (b) …
Colo. Rev. Stat. § 10-3-540.5 Qualified financial contracts - definitions
11.8K chars
(1) Notwithstanding any other provision of this section, including any other provision of this section permitting the modification of contracts, or other law of a state, a person shall not be stayed or prohibited from exercising: (a) A contractual right to cause the termination, …
Colo. Rev. Stat. § 10-3-541 Priority of distribution - definitions - repeal
9.6K chars
(1) The priority of distribution of claims from the insurer's estate shall be in accordance with the order in which each class of claims is set forth in this section. Every claim in each class shall be paid in full, or adequate funds shall be retained for such payment, before the…
Colo. Rev. Stat. § 10-3-542 Liquidator's recommendations to the court
1.6K chars
(1) The liquidator shall review all claims duly filed in the liquidation and shall make such further investigation as deemed necessary. The liquidator may compound, compromise, or in any other manner negotiate the amount for which claims will be recommended to the court except wh…
Colo. Rev. Stat. § 10-3-543 Distribution of assets
0.5K chars
Under the direction of the court, the liquidator shall pay distributions in a manner that will assure the proper recognition of priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and undetermined claims, in…
Colo. Rev. Stat. § 10-3-544 Unclaimed and withheld funds
1.4K chars
(1) All unclaimed funds subject to distribution remaining in the liquidator's hands when the liquidator is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member, or other person who is unknown or cannot be found, shall …
Colo. Rev. Stat. § 10-3-545 Termination of proceedings
0.7K chars
(1) When all assets justifying the expense of collection and distribution have been collected and distributed under this part 5, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders, including an order to transfer any …
Colo. Rev. Stat. § 10-3-546 Reopening liquidation
0.9K chars
After the liquidation proceeding has been terminated and the liquidator discharged, the commissioner or other interested party may at any time petition the district court in and for the city and county of Denver to reopen the proceedings for good cause, including the discovery of…
Colo. Rev. Stat. § 10-3-547 Disposition of records during and after termination of liquidation
0.3K chars
Whenever it appears to the commissioner that the records of any insurer in process of liquidation or completely liquidated are no longer useful, the commissioner may recommend to the court and the court shall direct what records should be retained for future reference and what sh…
Colo. Rev. Stat. § 10-3-548 External audit of receiver's books
5.6K chars
The district court in and for the city and county of Denver may, as it deems desirable, cause audits to be made of the books of the commissioner relating to any receivership established under this part 5, and a report of each such audit shall be filed with the commissioner and wi…
Colo. Rev. Stat. § 10-3-549 Conservation of property of foreign or alien insurers found in this state
2.8K chars
(1) If a domiciliary liquidator has not been appointed, the commissioner may apply to the district court in and for the city and county of Denver by verified petition for an order directing the commissioner to act as conservator to conserve the property of an alien insurer not do…
Colo. Rev. Stat. § 10-3-550 Liquidation of property of foreign or alien insurers found in this state
2.5K chars
(1) If no domiciliary receiver has been appointed, the commissioner may apply to the district court in and for the city and county of Denver by verified petition for an order directing the commissioner to liquidate the assets found in this state of a foreign insurer or an alien i…
Colo. Rev. Stat. § 10-3-551 Domiciliary liquidators in other states
2.2K chars
(1) The domiciliary liquidator of an insurer domiciled in a reciprocal state shall be vested, except as to special deposits and security on secured claims under section 10-3-552 (3), by operation of law with the title to all of the assets, property, contracts, rights of action, a…
Colo. Rev. Stat. § 10-3-552 Ancillary formal proceedings
2.2K chars
(1) If a domiciliary liquidator has been appointed for an insurer not domiciled in this state, the commissioner may file a petition with the district court in and for the city and county of Denver requesting appointment as ancillary receiver in this state: (a) If the commissioner…
Colo. Rev. Stat. § 10-3-553 Ancillary summary proceedings
0.3K chars
The commissioner, in the commissioner's sole discretion, may institute proceedings under sections 10-3-509 and 10-3-510 at the request of the insurance department of the domiciliary state of any foreign or alien insurer having property located in this state. Source: L. 92: Entire…
Colo. Rev. Stat. § 10-3-554 Claims of nonresidents against insurers domiciled in this state
3.9K chars
(1) In a liquidation proceeding commenced in this state against an insurer domiciled in this state, claimants residing in foreign countries or in states that are not reciprocal states must file claims in this state, and claimants residing in reciprocal states may file claims eith…
Colo. Rev. Stat. § 10-3-555 Claims of residents against insurers domiciled in reciprocal states
2.1K chars
(1) Promptly after the appointment of the commissioner as ancillary receiver for an insurer not domiciled in this state, the commissioner shall determine whether there are claimants residing in this state who are not protected by guaranty funds and, if so, whether the protection …
Colo. Rev. Stat. § 10-3-556 Attachment, garnishment, and levy of execution
0.5K chars
During the pendency in this or any other state of a liquidation proceeding, whether called by that name or not, no action or proceeding in the nature of an attachment, garnishment, or levy of execution shall be commenced or maintained in this state against the delinquent insurer …
Colo. Rev. Stat. § 10-3-557 Interstate priorities
1.6K chars
(1) In a liquidation proceeding in this state involving one or more reciprocal states, the order of distribution of the domiciliary state shall control as to all claims of residents of this and reciprocal states. All claims of residents of reciprocal states shall be given equal p…
Colo. Rev. Stat. § 10-3-558 Subordination of claims for noncooperation
0.5K chars
If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this state any assets within such receiver's control other than special deposits, diminished only by the expenses of the ancillary …
Colo. Rev. Stat. § 10-3-559 Severability
0.3K chars
If any provision of this part 5 or the application thereof to any person or circumstance is for any reason held to be invalid, the remainder of this part 5 and the application of such provision to other persons or circumstances shall not be affected thereby. Source: L. 92: Entire…
Colo. Rev. Stat. § 10-3-601 Short title
0.1K chars
This part 6 shall be known and may be cited as the Colorado Exchange of Insurance Securities Act. Source: L. 69: p. 529, � 1. C.R.S. 1963: � 72-27-1.
Colo. Rev. Stat. § 10-3-601.5 Definitions
1.1K chars
As used in this part 6, unless the context otherwise requires: (1) Acquiring corporation means: (a) Any stock insurance company organized under the laws of this state, other than the domestic company whose shareholders are to exchange their stock under a plan of exchange, as prov…
Colo. Rev. Stat. § 10-3-602 Exchange of securities
0.5K chars
(1) A domestic company may adopt a plan of exchange providing for the exchange by its shareholders of their stock in the domestic company for: (a) Shares of stock issued by an acquiring corporation; or (b) Other securities issued by an acquiring corporation; or (c) Cash; or (d) O…
Colo. Rev. Stat. § 10-3-603 Acquiring corporation - definition. (Repealed)
0.2K chars
Source: L. 69: p. 529, � 3. C.R.S. 1963: � 72-27-3. L. 2025: Entire section repealed, (SB 25-275), ch. 377, p. 2109, � 336, effective August 6. Editor's note: This section was relocated to � 10-3-601.5 (1) in 2025.
Colo. Rev. Stat. § 10-3-604 Procedure for exchange
15.0K chars
(1) Any domestic company may adopt a plan of exchange with any acquiring corporation providing for the exchange of the outstanding stock of the domestic company for shares of stock or other securities issued by the acquiring corporation, or cash, or other consideration, or any co…
Colo. Rev. Stat. § 10-3-605 Filing plan of exchange
1.4K chars
Not earlier than thirty-one days after the date of the meeting of shareholders of the domestic company at which the plan of exchange was approved by such shareholders, a certificate setting forth the plan of exchange, the manner of the approval thereof by the directors of the acq…
Colo. Rev. Stat. § 10-3-606 Effect of exchange
2.4K chars
(1) Upon the plan of exchange becoming effective, the exchange provided for therein shall be deemed to have been consummated, each shareholder of the domestic company shall cease to be a shareholder of such company, the ownership of all shares of the issued and outstanding stock …
Colo. Rev. Stat. § 10-3-607 Authorized insurance business and regulatory authority
0.9K chars
Nothing contained in this part 6 shall be construed to authorize any insurance company to engage in any kind of insurance business not authorized by its articles of incorporation or to authorize any acquiring corporation which is not an insurance company to engage directly in the…
Colo. Rev. Stat. § 10-3-608 Domestic company and acquiring corporation separate and distinct entities
0.4K chars
The domestic company and the acquiring corporation shall in all respects be regarded in law as separate and distinct corporations, with neither of such corporations having any liability to the creditors, policyholders, if any, or shareholders of the other, any acts or omissions o…
Colo. Rev. Stat. § 10-3-609 Examination
0.8K chars
After any acquiring corporation becomes the owner of all the outstanding shares of a domestic company pursuant to a plan of exchange consummated under the provisions of this part 6, the commissioner may, in connection with any examination of the domestic company, examine all reco…
Colo. Rev. Stat. § 10-3-610 Application of this part 6
0.4K chars
Nothing contained in this part 6 shall be construed to prohibit the consummation of a plan of exchange of the kind described in section 10-3-602, without compliance with the provisions of this part 6, and, if any such plan of exchange is consummated other than in compliance with …