Colorado § 10-3-505 Injunctions - orders

Colorado Statutes

§ 10-3-505 — Injunctions - orders

Colorado·Title 10 Insurance·Art. Regulation of Insurance Companies

(1)Any receiver appointed in a proceeding under this part 5 may at any time apply for, and any court of general jurisdiction may grant, such restraining orders, preliminary and permanent injunctions, and other orders as may be deemed necessary and proper to prevent:

(a)The transaction of further business;

(b)The transfer of property;

(c)Interference with the receiver or with a proceeding under this part 5;

(d)Waste of the insurer's assets;

(e)Dissipation or transfer, or both, of bank accounts;

(f)The institution or further prosecution of any actions or proceedings;

(g)The obtaining of preferences, judgments, attachments, garnishments, or liens against the insurer, its assets, or its policyholders;

(h)The levying of execution against the insurer, its assets, or its pol

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(1) Any receiver appointed in a proceeding
under this part 5 may at any time apply for, and any court of general jurisdiction
may grant, such restraining orders, preliminary and permanent injunctions, and
other orders as may be deemed necessary and proper to prevent:

(a) The transaction of further business;

(b) The transfer of property;

(c) Interference with the receiver or with a proceeding under this part 5;

(d) Waste of the insurer's assets;

(e) Dissipation or transfer, or both, of bank accounts;

(f) The institution or further prosecution of any actions or proceedings;

(g) The obtaining of preferences, judgments, attachments, garnishments, or
liens against the insurer, its assets, or its policyholders;

(h) The levying of execution against the insurer, its assets, or its
policyholders;

(i) The making of any sale or deed for nonpayment of taxes or assessments
that would tend to lessen the value of the assets of the insurer;

(j) The withholding from the receiver of books, accounts, documents, or other
records relating to the business of the insurer; or

(k) Any other threatened or contemplated action that might tend to lessen
the value of the insurer's assets or prejudice the rights of policyholders, creditors,
or shareholders or the administration of any proceeding under this part 5.

(2) The receiver may, if necessary, apply to any court outside of the state for
the relief described in subsection (1) of this section.

(3) Notwithstanding subsections (1) and (2) of this section and any other
provision of this title, a federal home loan bank shall not be stayed, enjoined, or
prohibited from exercising or enforcing any right or cause of action regarding
collateral pledged under a security agreement or under any pledge agreement,
security agreement, collateral agreement, guarantee agreement, or other similar
arrangement or credit enhancement relating to a security agreement to which the
federal home loan bank is a party.

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