Colorado § 10-3-242 - Qualified money market funds - definition.
Full text of Colorado Colorado Revised Statutes § 10-3-242 — Qualified money market funds - definition., with citation guidance and answers to common questions.
§ 10-3-242. Qualified money market funds - definition.
(1) As used in this section, "qualified money market fund" means a mutual fund that complies with 17 CFR 270.2a-7, as amended, and that is registered under the federal "Investment Company Act of 1940", 15 U.S.C. sec. 80a-1 et seq., as amended. A domestic insurance company may invest in the shares of any one or more qualified money market funds subject to the following limitations:
(a) (I) A domestic insurance company may invest in qualified money market funds that, at the time the investment is made, are either:
(A) Qualified money market funds that invest only in obligations issued, guaranteed, or insured by the federal government of the United States or in collateralized repurchase agreements composed of these obligations, and that qualify for investment without a reserve under the purposes and procedures manual of the securities valuation office of the National Association of Insurance Commissioners; or
(B) Qualified money market funds that qualify for investment using the bond class one reserve factor under the purposes and procedures manual of the securities valuation office of the National Association of Insurance Commissioners.
(II) Investments in the shares of any one qualified money market fund qualifying under this subsection (1)(a) must not exceed ten percent of the domestic insurance company's total admitted assets.
(b) Investments in shares of any one qualified money market fund not qualified under subsection (1)(a) of this section must not exceed five percent of the domestic insurance company's total admitted assets. The aggregate value of all shares that may be admitted assets under this subsection (1)(b) must not exceed ten percent of the company's total admitted assets.
(c) At the time of an investment in a qualified money market fund under this section, the aggregate value of a domestic insurance company's investment in the fund must not exceed five percent of the shares of the fund.
(2) to (4) (Deleted by amendment, L. 2000, p. 1731, § 5, effective August 15, 2000.)
Source: L. 85: Entire section added, p. 379, § 1, effective May 1. L. 96: (1) amended, p. 555, § 4, effective April 24. L. 2000: Entire section amended, p. 1731, § 5, effective August 15. L. 2020: (1) amended, (HB 20-1136), ch. 87, p. 353, § 9, effective September 14.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-3-242
What does Colorado Revised Statutes § 10-3-242 cover?
Section 10-3-242 ("Qualified money market funds - definition.") 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 § 10-3-242?
A common citation format is "Colorado Revised Statutes § 10-3-242" (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 § 10-3-242 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.