Colorado § 29-13-101 Insurance on property of local governments

Colorado Statutes

§ 29-13-101 — Insurance on property of local governments

Colorado § 29-13-101

Title 29Government

Art.Local Governments -

This text of Colorado § 29-13-101 (Insurance on property of local governments) 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. § 29-13-101 (2026).

Text

(1)Any unit of local government, which for purposes of this article includes counties, municipalities, school and special districts, and every other type of local government having the power to own property and impose taxes, may insure its property against all types of risk of loss for which such insurance may be procured from insurance companies authorized to do such business in this state.

(2)The insurance authorized by subsection (1) of this section may be provided by:

(a)Self-insurance, which may be funded by appropriations to establish or maintain reserves for self-insurance purposes;

(b)An insurance company authorized to do business in this state which meets all of the requirements of the division of insurance for that purpose;

(c)A combination of the methods of obta

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(1) Any unit of local
government, which for purposes of this article includes counties, municipalities,
school and special districts, and every other type of local government having the
power to own property and impose taxes, may insure its property against all types
of risk of loss for which such insurance may be procured from insurance companies
authorized to do such business in this state.

(2) The insurance authorized by subsection (1) of this section may be
provided by:

(a) Self-insurance, which may be funded by appropriations to establish or
maintain reserves for self-insurance purposes;

(b) An insurance company authorized to do business in this state which
meets all of the requirements of the division of insurance for that purpose;

(c) A combination of the methods of obtaining insurance authorized in
paragraphs (a) and (b) of this subsection (2).

(3) A unit of local government other than a school district may establish and
maintain an insurance reserve fund for self-insurance purposes and may include in
the annual tax levy of the local government such amounts as are determined by its
governing body to be necessary for the uses and purposes of the insurance reserve
fund, subject to the limitations imposed by section 29-1-301. In the event that a
local government has no annual tax levy, it may appropriate from any unexpended
balance in the general fund such amounts as the governing body shall deem
necessary for the purposes and uses of the insurance reserve fund. A school district
shall establish and maintain an insurance reserve fund in accordance with the
provisions of section 22-45-103 (1)(e), C.R.S., using moneys allocated thereto
pursuant to the provisions of section 22-54-105 (2), C.R.S. The fund established
pursuant to this subsection (3) shall be kept separate and apart from all other funds
and shall be used only for the payment of loss of or damage to the property of the
unit of local government or to secure and pay for premiums on insurance as
provided in this article.

Legislative History

Source: L. 79: Entire article added, p. 1131, � 1, effective May 25. L. 88: (3) amended, p. 823, � 34, effective May 24. L. 94: (3) amended, p. 823, � 52, effective April 27.