Colorado § 10-4-624 - Self-insurers.
Full text of Colorado Colorado Revised Statutes § 10-4-624 — Self-insurers., with citation guidance and answers to common questions.
§ 10-4-624. Self-insurers.
(1) Any person in whose name more than twenty-five motor vehicles are registered may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the commissioner.
(2) The commissioner may, in his or her discretion, upon the application of such person, issue a certificate of self-insurance when the commissioner is satisfied that such person is able and will continue to be able to pay benefits as required under section 10-4-620 and to pay any and all judgments that may be obtained against such person. Upon not less than five days' notice and a hearing pursuant to such notice, the commissioner may, upon reasonable grounds, cancel a certificate of self-insurance. Failure to pay any benefits under section 10-4-620 or failure to pay any judgment within thirty days after such judgment has become final shall constitute a reasonable ground for the cancellation of a certificate of self-insurance.
(3) For purposes of subsection (2) of this section, the commissioner shall accept, as proof that a motor carrier as defined in article 10.1 of title 40, C.R.S., is able and will continue to be able to pay all judgments that might be obtained against the carrier, a surety bond in a form acceptable to the commissioner in an amount determined by the commissioner sufficient to ensure that the carrier has the ability to pay all judgments that may be obtained against any such carrier.
Source: L. 2003: (2) amended, p. 2433, § 3, effective June 5; entire section added, p. 1563, § 3, effective July 1. L. 2011: (3) amended, (HB 11-1198), ch. 127, p. 417, § 6, effective August 10.
Editor's note: This section was originally numbered as § 10-4-621 in House Bill 03-1188 but has been renumbered on revision for ease of location.
ANNOTATION
Annotator's note. Since this section is similar to § 10-4-716 as it existed prior to the 2003 repeal of part 7 of article 4 of this title, a relevant case construing that provision has been included in the annotations to this section.
Provisions of act with regard to self-insurers do not limit obligation that every owner of a motor vehicle provide liability coverage for bodily injury arising from the vehicle's permissive use. Barnes v. Whitt, 852 P.2d 1322 (Colo. App. 1993).
Frequently Asked Questions About Colorado § 10-4-624
What does Colorado Revised Statutes § 10-4-624 cover?
Section 10-4-624 ("Self-insurers.") 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 § 10-4-624?
A common citation format is "Colorado Revised Statutes § 10-4-624" (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 § 10-4-624 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.