§ 10-3-236. Assets Acquired Through Merger, Consolidation, or Reinsurance
Any investments acquired through merger, consolidation, or reinsurance that are not admitted assets under this title 10, other than article 15 of this title 10, and article 14 of title 24 are not deemed admitted assets by reason of their acquisition through merger, consolidation, or reinsurance. Source: L. 69: p. 499, § 5. C.R.S. 1963: […]
§ 10-3-237. Assets Acquired Under Prior Law
Notwithstanding any condition, restriction, or exclusion set forth in sections 10-3-215 to 10-3-229, any asset held by a domestic insurance company on May 31, 1969, that met the requirements of the law in effect immediately prior to that date for an investment of the company’s reserves, paid-up capital stock, and other liabilities is an admitted […]
§ 10-3-238. Refunds
Whenever it appears to the satisfaction of the commissioner that, because of some mistake of fact, error in calculation, or erroneous interpretation of a statute of this or any other state, any insurer or other person engaged in the business of insurance in this state has paid to the commissioner or to the state of […]
§ 10-3-239. Subordinated Indebtedness
Domestic insurance companies may borrow and thereby assume a liability for the repayment of a sum of money upon a written agreement that the loan or advance with interest shall be repaid only out of surplus of the company in excess of such minimum surplus as is stipulated in and by the agreement. The agreement […]
§ 10-3-240. Approval of Investments
Except for investments made under sections 10-3-802 and 10-7-402, a domestic insurance company shall not, directly or indirectly, invest more than two percent of the company’s admitted assets in stocks, bonds, debentures, notes, or other securities of its affiliates, as defined in section 10-3-801, without the prior approval of the commissioner. Notwithstanding the provisions of […]
§ 10-3-242. Qualified Money Market Funds – Definition
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 […]
§ 10-3-243. Derivative Transactions – Definitions – Restrictions – Rules
For the purposes of this section, unless the context otherwise requires: “Counter-party exposure amount” means: The net amount of credit risk attributable to a derivative instrument entered into with a business entity other than through a qualified exchange or qualified foreign exchange, or cleared through a qualified clearinghouse as an over-the-counter derivative instrument. The net […]
§ 10-3-228.5. Securities Lending – Repurchase – Reverse Repurchase – Dollar Roll Transactions
For the purposes of this section, unless the context otherwise requires: “Dollar roll transaction” means two simultaneous transactions with settlement dates no more than ninety-six days apart so that in one transaction an insurer sells to a business entity and in the other transaction the insurer is obligated to purchase, from the same business entity, […]
§ 10-3-229. Investments for Purposes of Compliance in Other Jurisdictions
Admitted assets shall consist of such other securities and investments as may be necessary to comply with the laws or the departmental rules of other states or nations in which the company may do business. Source: L. 69: p. 497, § 5. C.R.S. 1963: § 72-2-36.
§ 10-3-230. Additional Investments
A domestic insurance company may invest in any additional investments, except items specifically defined as nonadmitted assets in this title 10, other than article 15 of this title 10, and article 14 of title 24, without regard to any limitation, condition, restriction, or exclusion set forth in sections 10-3-215 to 10-3-229 and 10-3-242, and regardless […]