§ 10-13-103 — Declaration of subscribers

(1) Such subscribers so contracting
among themselves shall through their attorney file with the commissioner of this
state a declaration verified by the oath of such attorney setting forth:

(a) The name or title of the office at which such subscribers propose to
exchange such indemnity contracts. Such name or title shall not be so similar to
any other name or title previously adopted by a similar organization or by any
insurance corporation or association as in the opinion of the commissioner is
calculated to result in confusion or deception.

(b) The kind of insurance to be effected or exchanged;

(c) A copy of the form of policy contract or agreement under or by which
such insurance is to be effected or exchanged;

(d) A copy of the form of power of attorney or other authority of such
attorney under which such insurance is to be effected or exchanged, which shall
show the allowance for expense;

(e) The location of the office from which such contracts or agreements are to
be issued;

(f) That applications have been made for indemnity upon at least one
hundred separate risks aggregating not less than one and one-half million dollars,
as represented by executed contracts or bona fide applications to become
concurrently effective, or, in case of liability or compensation insurance, covering a
total payroll of not less than one and one-half million dollars;

(g) A financial statement in such form as the commissioner may require;

(h) Such other information as the commissioner may deem necessary for the
protection of the public.

Legislative History

Source: L. 13: p. 373, � 81. L. 15: p. 273, � 1. C.L. � 2554. CSA: C. 87, � 98. CRS 53: � 72-4-3. C.R.S. 1963: � 72-4-3.