Colorado § 10-13-106 - Certificate of authority issued.
Full text of Colorado Colorado Revised Statutes § 10-13-106 — Certificate of authority issued., with citation guidance and answers to common questions.
§ 10-13-106. Certificate of authority issued.
(1) Upon the filing of the required papers, it is the duty of the commissioner to examine and pass upon the same and, if found in accordance with this title, to issue a certificate of authority which shall expire on April 1 next succeeding.
(2) To qualify for authority to transact insurance business in this state after July 1, 1971, every interinsurance exchange or reciprocal exchange shall possess and maintain an unencumbered surplus in an amount of not less than three hundred thousand dollars. Any interinsurance exchange or reciprocal exchange currently authorized to transact insurance business in this state need not meet such surplus requirements until five years after July 1, 1971; except that the surplus of any such interinsurance exchange or reciprocal exchange shall be increased annually at the rate of twenty percent of the difference between its surplus as of December 31, 1970, and three hundred thousand dollars. Upon written request and for good reason shown, the commissioner may waive the requirement for any one annual surplus increase, with the provision that said surplus increase will be accomplished in full within the next year, together with the surplus increase scheduled for that year.
Source: L. 13: p. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-6. C.R.S. 1963: § 72-4-6. L. 71: p. 719, § 1. L. 2001: (1) amended, p. 1267, § 6, effective June 5.
ANNOTATION
Under this section the competency of insurers is passed upon, and determined, by the insurance commissioner. Consol. Underwriters v. Indus. Comm'n, 117 Colo. 239, 185 P.2d 1013 (1947).
Insurance commissioner has discretion under subsection (1) to issue a new annual certificate of authority to an interinsurance exchange which fails to meet the unencumbered surplus requirement for original certification when he is acting under his regulatory authority to rehabilitate the interinsurance exchange in the same manner as any other insurance company in §§ 10-3-401 to 10-3-414. Alias Smith & Jones v. Barnes, 695 P.2d 302 (Colo. App. 1984).
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-13-106
What does Colorado Revised Statutes § 10-13-106 cover?
Section 10-13-106 ("Certificate of authority issued.") 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 § 10-13-106?
A common citation format is "Colorado Revised Statutes § 10-13-106" (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 § 10-13-106 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.