§ 10-3-1202 — Definitions

Colorado § 10-3-1202

• Jurisdiction: Colorado
• Title 10: Insurance
• Art.: Regulation of Insurance Companies

Text

As used in this part 12, unless the context otherwise
requires:

(1) Clearing corporation has the meaning ascribed to it in section 4-8-102
(a)(5), C.R.S.; except that, with respect to a security issued by an institution
organized or existing under the laws of any foreign country or a security used to
meet the deposit requirements pursuant to the laws of a foreign country as a
condition of doing business therein, clearing corporation includes a corporation
which is organized or existing under the laws of any foreign country and which is
legally qualified under such laws to effect transactions in securities by
computerized book-entry.

(2) Direct participant means a bank or trust company or other institution
which maintains an account in its name in a clearing corporation and through which
an insurance company participates in a clearing corporation.

(3) Federal reserve book-entry system means the computerized system
sponsored by the United States department of the treasury and certain agencies
and instrumentalities of the United States for holding and transferring securities of
the United States government and such agencies and instrumentalities,
respectively, in federal reserve banks through banks which are members of the
federal reserve system or which otherwise have access to such computerized
system.

(4) Member bank means a national bank, state bank, or trust company
which is a member of the federal reserve system and through which an insurance
company participates in the federal reserve book-entry system.

(5) Security has any of the meanings specified in section 4-8-102 (a)(15),
C.R.S.

Legislative History

Source: L. 83: Entire part added, p. 451, � 2, effective May 3. L. 96: (1) and (5) amended, p. 245, � 22, effective July 1.