Colorado § 10-1-118 - Foreign companies - unsatisfied judgments - suspension.
Full text of Colorado Colorado Revised Statutes § 10-1-118 — Foreign companies - unsatisfied judgments - suspension., with citation guidance and answers to common questions.
§ 10-1-118. Foreign companies - unsatisfied judgments - suspension.
(1) If a judgment against a foreign insurance company is unsatisfied, and execution has issued on said judgment, and the return of the sheriff discloses that the sheriff cannot fully satisfy such judgment, the judgment creditor or judgment creditor's attorney may file with the commissioner, in triplicate, a complaint setting forth such facts. The commissioner shall mail a copy of such complaint to the home office of such insurance company, at the address shown in the records of the division of insurance, and a copy to the Colorado office or the Colorado general agent of such insurance company.
(2) If said insurance company does not, within thirty days after such mailing, pay and discharge said judgment or show good cause to the commissioner for the failure to pay such judgment, the commissioner, upon satisfactory proof of the allegations of the complaint, shall forthwith suspend the license or right of such insurance company to do business in this state. If good cause, previously shown, ceases to exist and the judgment remains unpaid, the commissioner shall suspend such license or right.
(3) The commissioner shall reinstate the license or right to do business in this state when the insurance company has fully paid such judgment.
Source: L. 2003: Entire article RC&RE, p. 598, § 1, effective July 1.
Editor's note: This section is similar to former § 10-1-122 as it existed prior to 2002.
Cross references: For the suspension of a certificate of authority to do business, see § 10-1-110.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-1-118
What does Colorado Revised Statutes § 10-1-118 cover?
Section 10-1-118 ("Foreign companies - unsatisfied judgments - suspension.") 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 § 10-1-118?
A common citation format is "Colorado Revised Statutes § 10-1-118" (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 § 10-1-118 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.