§ 10-12-108 — Mutual insurance companies - corporation policyholders

Any
public or private corporation, board, or association in this state or elsewhere may
make applications and enter into agreements for and hold policies in any domestic
or foreign mutual insurance company. Any officer, stockholder, trustee, or legal
representative of any such corporation, board, or association or any estate may be
recognized as acting for or on its behalf for the purpose of such membership but
shall not be personally liable upon such contract of insurance by reason of acting in
such representative capacity. The right of any corporation organized under the laws
of this state to participate as a member of any such mutual insurance company is
declared to be incidental to the purpose for which such corporation is organized
and as much granted as the rights and powers expressly conferred.

Legislative History

Source: L. 21: p. 465, � 8. C.L. � 2564. CSA: C. 87, � 134. CRS 53: � 72-5-8. L. 55: p. 457, � 1. C.R.S. 1963: � 72-5-8.