Colo. Rev. Stat. § 10-3-516

Current through 11/5/2024 election
Section 10-3-516 - Grounds for liquidation
(1) The commissioner may petition the district court in and for the city and county of Denver for an order directing the commissioner to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis:
(a) Of any ground for an order of rehabilitation as specified in section 10-3-511, whether or not there has been a prior order directing the rehabilitation of the insurer;
(b) That the insurer is insolvent; or
(c) That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.

C.R.S. § 10-3-516

L. 92: Entire part R&RE, p. 1446, § 14, effective July 1.