Colorado Statutes
§ 10-12-107 — Ownership of profits
Every domestic insurance company
incorporated upon the mutual or assessment plan shall state clearly in its policies
or certificates that the accumulations of profits of such corporations over and
above all proper liabilities are the sole property of the members or policyholders in
good standing and that the same shall be distributed in a just and equitable manner
in case such company is reinsured or ceases to do business.
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Legislative History
Source: L. 13: p. 364, � 66. C.L. � 2539. CSA: C. 87, � 83. CRS 53: � 72-5-7. C.R.S. 1963: � 72-5-7.
Nearby Sections
15
§ 10-1-101
Legislative declaration§ 10-1-102
Definitions§ 10-1-105
Actuary§ 10-1-107
Personal fees prohibited§ 10-1-109
Rules of commissioner§ 10-1-111
Invoking aid of courts§ 10-1-113
No seal required on policies§ 10-1-114
Sale of premium notes prohibited§ 10-1-115
Penalty§ 10-1-116
Defamation of other companies - penalty§ 10-1-117
Company unauthorized in other states