Colorado § 10-3-504.5 - Application for receivership - penalty.
Full text of Colorado Colorado Revised Statutes § 10-3-504.5 — Application for receivership - penalty., with citation guidance and answers to common questions.
§ 10-3-504.5. Application for receivership - penalty.
No application or proceeding for a receivership of any domestic insurance company shall be made in any court in this state by any person, nor shall any court receive or entertain any such application or proceeding, unless and until such application is approved by the commissioner, and then such application shall be made only by the attorney general of the state. The commissioner shall not give said approval until after the examination and hearing by the commissioner and the attorney general, which shall not be made public, at which the company affected shall be given ample opportunity to submit the facts as to its condition. Any person who violates any provisions of this section commits a class 2 misdemeanor.
Source: L. 92: Entire part R&RE, p. 1433, § 14, effective July 1. L. 2021: Entire section amended, (SB 21-271), ch. 462, p. 3148, § 114, effective March 1, 2022.
Editor's note: This section is similar to former § 10-3-503 as it existed prior to 1992.
Cross references: For the penalty for a class 2 misdemeanor, see § 18-1.3-501.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-3-504.5
What does Colorado Revised Statutes § 10-3-504.5 cover?
Section 10-3-504.5 ("Application for receivership - penalty.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 10-3-504.5?
A common citation format is "Colorado Revised Statutes § 10-3-504.5" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 10-3-504.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.