Colorado § 10-12-408 - Liability of members.
Full text of Colorado Colorado Revised Statutes § 10-12-408 — Liability of members., with citation guidance and answers to common questions.
§ 10-12-408. Liability of members.
(1) A member of a mutual insurance company organized under this article is not liable to any other member, to the company, or to any creditor of the company for the payment of losses or expenses of the company beyond payment of premiums for insurance issued to such member, nor may any member be assessed for any liability of the company.
(2) A mutual insurance company may, if permitted by its articles of incorporation or bylaws and if provision therefor is clearly disclosed to its members on the face of the policy, make contingent premium assessments on its members.
(3) No person is liable for any obligation arising from membership unless the person was admitted to membership upon the person's application or with the person's consent.
Source: L. 91: Entire part added, p. 1220, § 1, effective May 24.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-12-408
What does Colorado Revised Statutes § 10-12-408 cover?
Section 10-12-408 ("Liability of members.") 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 § 10-12-408?
A common citation format is "Colorado Revised Statutes § 10-12-408" (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 § 10-12-408 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.