Colorado § 10-3-518 - Continuation of coverage.
Full text of Colorado Colorado Revised Statutes § 10-3-518 — Continuation of coverage., with citation guidance and answers to common questions.
§ 10-3-518. Continuation of coverage.
(1) All policies, including bonds and other noncancellable business but not including life or health insurance or annuities, in effect at the time of issuance of an order of liquidation shall continue in force only for the lesser of:
(a) A period of thirty days from the date of entry of the liquidation order;
(b) The expiration of the policy coverage;
(c) The date when the insured has replaced the insurance coverage with equivalent insurance in another insurer or otherwise terminated the policy;
(d) The effective date of a transfer of the policy obligation by the liquidator pursuant to section 10-3-520 (1)(i); or
(e) The date proposed by the liquidator and approved by the court to cancel coverage.
(2) An order of liquidation under section 10-3-517 shall terminate coverages at the time specified in subsection (1) of this section for purposes of any other statute.
(3) Policies of life or health insurance or annuities shall continue in force for such period and under such terms as is provided for by any applicable guaranty association or foreign guaranty association.
(4) Policies of life or health insurance or annuities or any period or coverage of such policies not covered by a guaranty association or foreign guaranty association shall terminate under subsections (1) and (2) of this section.
Source: L. 92: Entire part R&RE, p. 1448, § 14, effective July 1.
Frequently Asked Questions About Colorado § 10-3-518
What does Colorado Revised Statutes § 10-3-518 cover?
Section 10-3-518 ("Continuation of coverage.") 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 § 10-3-518?
A common citation format is "Colorado Revised Statutes § 10-3-518" (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 § 10-3-518 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.