Colorado Statutes
§ 10-3-218 — Real estate for use in company's business
Domestic insurance
companies may invest in real estate for the accommodation of the company's
business, but the aggregate investments by a company that may be admitted
assets under this section shall not exceed fifteen percent of the company's
admitted assets unless the commissioner has given prior approval of a greater
aggregate investment. Any space in the company's home office building that is not
required for its use may be rented to others. The commissioner may approve
investments under this section which in the aggregate will not exceed twenty
percent of the company's admitted assets, upon a finding that such investments do
not render the company's operation hazardous, or its condition unsound, to the
public or its policyholders.
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Legislative History
Source: L. 69: p. 494, � 5. C.R.S. 1963: � 72-2-24. L. 81: Entire section
amended, p. 529, � 4, effective July 1. L. 2001: Entire section amended, p. 280, � 3,
effective March 30.
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