§ 10-4-506 — Colorado insurance guaranty association

Colorado § 10-4-506

• Jurisdiction: Colorado
• Title 10: Insurance
• Art.: Property and Casualty Insurance

Text

There is created a
nonprofit unincorporated legal entity to be known as the Colorado insurance
guaranty association. All member insurers shall be and remain members of the
association as a condition of their authority to transact insurance business in this
state. The association shall perform its functions under a plan of operation
established and approved under section 10-4-509 and shall exercise its powers
through a board of directors established under section 10-4-507. For purposes of
administration and assessment, the association shall be divided into three separate
accounts: Workers' compensation insurance account; automobile insurance
account; and the account for all other insurance to which this part 5 applies.

Legislative History

Source: L. 71: p. 757, � 1. C.R.S. 1963: � 72-34-6. L. 90: Entire section amended, p. 559, � 17, effective July 1.