Colorado § 10-4-507 - Board of directors.
Full text of Colorado Colorado Revised Statutes § 10-4-507 — Board of directors., with citation guidance and answers to common questions.
§ 10-4-507. Board of directors.
(1) The board of directors of the association shall consist of not less than five nor more than nine persons serving terms as established in the plan of operation. The members of the board shall be selected by member insurers, subject to the approval of the commissioner. Vacancies on the board shall be filled for the remaining period of the term in the same manner as initial appointments.
(2) In approving selections to the board, the commissioner shall consider among other things whether all member insurers are fairly represented.
(3) Members of the board may be reimbursed from the assets of the association for actual and necessary expenses incurred by them as members of the board of directors.
Source: L. 71: p. 757, § 1. C.R.S. 1963: § 72-34-7.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-4-507
What does Colorado Revised Statutes § 10-4-507 cover?
Section 10-4-507 ("Board of directors.") 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 § 10-4-507?
A common citation format is "Colorado Revised Statutes § 10-4-507" (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 § 10-4-507 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.