Colorado § 10-3-240 - Approval of investments.
Full text of Colorado Colorado Revised Statutes § 10-3-240 — Approval of investments., with citation guidance and answers to common questions.
§ 10-3-240. Approval of investments.
(1) Except for investments made under sections 10-3-802 and 10-7-402, a domestic insurance company shall not, directly or indirectly, invest more than two percent of the company's admitted assets in stocks, bonds, debentures, notes, or other securities of its affiliates, as defined in section 10-3-801, without the prior approval of the commissioner.
(2) Notwithstanding the provisions of subsection (1) of this section, the commissioner may, upon written notice, require a domestic insurance company to obtain his prior approval for all investments in its affiliates if, based on past transactions of the insurance company, he determines that such investments might render the company's operation hazardous, or its condition unsound, to the public or its policyholders.
(3) Any domestic insurance company proposing to make an investment subject to approval under subsection (1) or (2) of this section shall give written notice thereof to the commissioner. If the commissioner has not approved or disapproved such investment within thirty days after receipt of such notice, the investment shall be deemed approved at the end of such thirty-day period.
Source: L. 75: Entire section added, p. 337, § 5, effective July 1. L. 2020: (1) amended, (HB 20-1136), ch. 87, p. 353, § 8, effective September 14.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-3-240
What does Colorado Revised Statutes § 10-3-240 cover?
Section 10-3-240 ("Approval of investments.") 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 § 10-3-240?
A common citation format is "Colorado Revised Statutes § 10-3-240" (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 § 10-3-240 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.