Colorado § 42-7-501 - Self-insurers.
Full text of Colorado Colorado Revised Statutes § 42-7-501 — Self-insurers., with citation guidance and answers to common questions.
§ 42-7-501. 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 of insurance.
(2) The commissioner of insurance may, in his or her discretion, upon the application of such person, issue a certificate of self-insurance when the commissioner of insurance is satisfied that such person is possessed and will continue to be possessed of ability to pay 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 of insurance may, upon reasonable grounds, cancel a certificate of self-insurance. 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.
Source: L. 94: Entire title amended with relocations, p. 2488, § 1, effective January 1, 1995. L. 97: Entire section amended, p. 1078, § 9, effective July 1.
Frequently Asked Questions About Colorado § 42-7-501
What does Colorado Revised Statutes § 42-7-501 cover?
Section 42-7-501 ("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 § 42-7-501?
A common citation format is "Colorado Revised Statutes § 42-7-501" (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 § 42-7-501 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.