§ 10-3-227 — Stock for purpose of reinsurance, consolidation, or merger

Colorado § 10-3-227

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

Text

(1)
Domestic insurance companies may invest in stock in any other insurance company
authorized to do a similar business to that of the investing company, subject to the
following provisions:

(a) No greater amount shall be applied to the acquisition of such stock than
the investing company's capital and surplus in excess of the minimum required by
law; except that, the commissioner may, by written order prior to such acquisition,
permit the application of a greater amount thereto.

(b) A reinsurance, consolidation, or merger between the investing company
and such other insurance company shall be effected within two years of the
acquisition of such stock or within such extension of such period as may be granted
by the commissioner.

Legislative History

Source: L. 69: p. 496, � 5. C.R.S. 1963: � 72-2-34.