Colorado § 10-3-516 Grounds for liquidation

Colorado Statutes

§ 10-3-516 — Grounds for liquidation

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

(1)The commissioner may petition the district court in and for the city and county of Denver for an order directing the commissioner to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis:

(a)Of any ground for an order of rehabilitation as specified in section 10-3-511, whether or not there has been a prior order directing the rehabilitation of the insurer;

(b)That the insurer is insolvent; or

(c)That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.

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(1) The commissioner may petition the
district court in and for the city and county of Denver for an order directing the
commissioner to liquidate a domestic insurer or an alien insurer domiciled in this
state on the basis:

(a) Of any ground for an order of rehabilitation as specified in section 10-3-511, whether or not there has been a prior order directing the rehabilitation of the
insurer;

(b) That the insurer is insolvent; or

(c) That the insurer is in such condition that the further transaction of
business would be hazardous, financially or otherwise, to its policyholders, its
creditors, or the public.

Colorado § 10-3-516 (Grounds for liquidation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.