Colorado § 10-3-508 - Condition on release from delinquency proceedings.
Full text of Colorado Colorado Revised Statutes § 10-3-508 — Condition on release from delinquency proceedings., with citation guidance and answers to common questions.
§ 10-3-508. Condition on release from delinquency proceedings.
(1) No insurer subject to any delinquency proceedings, whether formal, informal, administrative, or judicial, shall:
(a) Be released from such proceeding, unless such proceeding is converted into a judicial rehabilitation or liquidation proceeding;
(b) Be permitted to solicit or accept new business or request or accept the restoration of any suspended or revoked license or certificate of authority;
(c) Be returned to the control of its shareholders or private management; or
(d) Have any of its assets returned to the control of its shareholders or private management until all payments of or on account of the insurer's contractual obligations by all guaranty associations, along with all expenses thereof and interest on all such payments and expenses, shall have been repaid to the guaranty associations or a plan of repayment by the insurer shall have been approved by the guaranty association.
Source: L. 92: Entire part R&RE, p. 1435, § 14, effective July 1.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-3-508
What does Colorado Revised Statutes § 10-3-508 cover?
Section 10-3-508 ("Condition on release from delinquency proceedings.") 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 § 10-3-508?
A common citation format is "Colorado Revised Statutes § 10-3-508" (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 § 10-3-508 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.