Colorado § 10-3-516 - Grounds for liquidation.
Full text of Colorado Colorado Revised Statutes § 10-3-516 — Grounds for liquidation., with citation guidance and answers to common questions.
§ 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.
Source: L. 92: Entire part R&RE, p. 1446, § 14, effective July 1.
Frequently Asked Questions About Colorado § 10-3-516
What does Colorado Revised Statutes § 10-3-516 cover?
Section 10-3-516 ("Grounds for liquidation.") 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 § 10-3-516?
A common citation format is "Colorado Revised Statutes § 10-3-516" (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 § 10-3-516 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.