Colorado § 10-3-206 - Security deposits - certificates.
Full text of Colorado Colorado Revised Statutes § 10-3-206 — Security deposits - certificates., with citation guidance and answers to common questions.
§ 10-3-206. Security deposits - certificates.
(1) The commissioner shall receive and hold on deposit, in the manner provided in this law, the securities of domestic companies that are deposited by any such company under the provisions of this title (except article 15) and article 14 of title 24, C.R.S., for the purpose of securing policyholders or to comply with any similar law of another state to enable the company to transact business in such state. All securities so offered for deposit shall belong to and be the sole property of such company and shall be free and clear of any claims whatsoever, and the commissioner shall determine the same by proper inquiry.
(2) The commissioner shall furnish to such company a certificate, under his hand and official seal, certifying that he holds said securities in trust for the benefit of the policyholders of such company.
Source: L. 13: p. 325, § 10. L. 21: p. 454, § 2. C.L. § 2480. CSA: C. 87, § 9. CRS 53: § 72-1-9. C.R.S. 1963: § 72-1-9. L. 92: (1) amended, p. 1545, § 35, effective May 20. L. 2004: (1) amended, p. 900, § 13, effective May 21. L. 2012: (1) amended, (HB 12-1266), ch. 280, p. 1504, § 26, effective July 1.
Cross references: For procedure for deposit and commissioner's duty to safeguard, see § 10-3-210.
ANNOTATION
The securities deposited constitute an exclusive trust. Securities deposited by insurance companies under the provisions of this section constitute an exclusive trust for the purpose of securing to policyholders policies theretofore issued, and the section remains in force until its object and purpose has been fulfilled and discharged. Cochrane v. Pacific States Life Ins. Co., 93 Colo. 462, 27 P.2d 196 (1933).
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-3-206
What does Colorado Revised Statutes § 10-3-206 cover?
Section 10-3-206 ("Security deposits - certificates.") 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 § 10-3-206?
A common citation format is "Colorado Revised Statutes § 10-3-206" (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 § 10-3-206 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.