Colorado Statutes
§ 10-6-108 — Control of operations
The business of each captive insurance
company shall be managed by a board of directors or other governing body
consisting of not less than three persons. The organizational documents or bylaws
shall provide for the terms, meetings, and elections of the directors and officers of
the governing body. No individual may serve as a director or officer who has been
convicted of fraud involving any financial institution or of a felony involving misuse
of funds.
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Legislative History
Source: L. 72: p. 431, � 1. C.R.S. 1963: � 72-36-8. L. 89: (1) amended, p. 464, �
5, effective April 15. L. 94: Entire section R&RE, p. 545, � 6, effective April 6.
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