Colorado § 10-7-115 Insurable interest - 170 (c) organizations

Colorado Statutes

§ 10-7-115 — Insurable interest - 170 (c) organizations

Colorado § 10-7-115

Title 10Insurance

Art.Life Insurance

This text of Colorado § 10-7-115 (Insurable interest - 170 (c) organizations) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 10-7-115 (2026).

Text

Notwithstanding any other provision of law, any organization that meets the requirements of section 170

(c)of the federal Internal Revenue Code of 1986, as amended, may own or purchase life insurance on an insured who gives written consent to the ownership or purchase of that insurance. The provisions of this section do not limit or abridge any insurable interest or right to insure now existing at common law or by statute, shall be construed liberally to sustain the existence of an insurable interest, and shall stand as a declaration of existing law applicable to all life insurance policies whenever issued, in existence on or after March 20, 1992.

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Notwithstanding any
other provision of law, any organization that meets the requirements of section 170
(c) of the federal Internal Revenue Code of 1986, as amended, may own or
purchase life insurance on an insured who gives written consent to the ownership or
purchase of that insurance. The provisions of this section do not limit or abridge any
insurable interest or right to insure now existing at common law or by statute, shall
be construed liberally to sustain the existence of an insurable interest, and shall
stand as a declaration of existing law applicable to all life insurance policies
whenever issued, in existence on or after March 20, 1992.