Colorado § 10-3-240 Approval of investments

Colorado Statutes

§ 10-3-240 — Approval of investments

Colorado § 10-3-240

Title 10Insurance

Art.Regulation of Insurance Companies

This text of Colorado § 10-3-240 (Approval of investments) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 10-3-240 (2026).

Text

(1)Except for investments made under sections 10-3-802 and 10-7-402, a domestic insurance company shall not, directly or indirectly, invest more than two percent of the company's admitted assets in stocks, bonds, debentures, notes, or other securities of its affiliates, as defined in section 10-3-801, without the prior approval of the commissioner.

(2)Notwithstanding the provisions of subsection (1) of this section, the commissioner may, upon written notice, require a domestic insurance company to obtain his prior approval for all investments in its affiliates if, based on past transactions of the insurance company, he determines that such investments might render the company's operation hazardous, or its condition unsound, to the public or its policyholders.

(3)Any domestic

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(1) Except for investments made under
sections 10-3-802 and 10-7-402, a domestic insurance company shall not, directly
or indirectly, invest more than two percent of the company's admitted assets in
stocks, bonds, debentures, notes, or other securities of its affiliates, as defined in
section 10-3-801, without the prior approval of the commissioner.

(2) Notwithstanding the provisions of subsection (1) of this section, the
commissioner may, upon written notice, require a domestic insurance company to
obtain his prior approval for all investments in its affiliates if, based on past
transactions of the insurance company, he determines that such investments might
render the company's operation hazardous, or its condition unsound, to the public or
its policyholders.

(3) Any domestic insurance company proposing to make an investment
subject to approval under subsection (1) or (2) of this section shall give written
notice thereof to the commissioner. If the commissioner has not approved or
disapproved such investment within thirty days after receipt of such notice, the
investment shall be deemed approved at the end of such thirty-day period.