Colorado § 10-3-228 - Collateral loans.
Full text of Colorado Colorado Revised Statutes § 10-3-228 — Collateral loans., with citation guidance and answers to common questions.
§ 10-3-228. Collateral loans.
(1) Domestic insurance companies may invest in collateral loans secured by the pledge of any one or more investments allowed for collateral loans, as provided by nationally recognized insurance statutory accounting principles, subject to the following provisions:
(a) The collateral pledged shall be legally assignable and validly assigned to the lending company.
(b) As at date made, no such loan shall exceed in amount seventy-five percent of the value of the collateral pledged.
(c) At no time shall the admitted value of a collateral loan be in excess of the actual market value of the collateral pledged.
(d) If any of the collateral pledged and taken into account to qualify a loan as an admitted asset under this section is of a category which, if invested in directly, would be subject to a limitation expressed as a percentage of the investing company's admitted assets, then, for the purpose of such limitation, so much of the loan as is so qualified by such collateral will be deemed to be a direct investment in such category.
(e) No loan shall qualify as an admitted asset under this section unless limited to a term not exceeding five years or, if less, the maturity date, if any, of any of the collateral taken into account in qualifying the loan as an admitted asset under this section.
Source: L. 69: p. 496, § 5. C.R.S. 1963: § 72-2-35. L. 2002: IP(1) amended, p. 1012, § 5, effective June 1. L. 2004: IP(1) amended, p. 1063, § 10, effective July 1.
Frequently Asked Questions About Colorado § 10-3-228
What does Colorado Revised Statutes § 10-3-228 cover?
Section 10-3-228 ("Collateral loans.") 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 § 10-3-228?
A common citation format is "Colorado Revised Statutes § 10-3-228" (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 § 10-3-228 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.