Colorado Statutes
§ 10-3-519 — Dissolution of insurer
The commissioner may petition for an order
dissolving the corporate existence of a domestic insurer or the United States
branch of an alien insurer domiciled in this state at the time the commissioner
applies for a liquidation order. The court shall order dissolution of the corporation
upon petition by the commissioner upon or after the granting of a liquidation order.
If the dissolution has not previously been ordered, it shall be effected by operation
of law upon the discharge of the liquidator if the insurer is insolvent but may be
ordered by the court upon the discharge of the liquidator if the insurer is under a
liquidation order for some other reason.
Free access — add to your briefcase to read the full text and ask questions with AI
Colorado § 10-3-519 (Dissolution of insurer) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Source: L. 92: Entire part R&RE, p. 1449, � 14, effective July 1.
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