A mutual insurance company is deemed insolvent when its admitted assets are less than all of its liabilities, excluding from such liabilities the aggregate amount of its guaranty fund, and is deemed impaired when its admitted assets are less than its liabilities, including as a liability the aggregate amount of its guaranty fund, or when its surplus is less than the minimum requirements of section 10-3-201.
Source: L. 91: Entire part added, p. 1221, § 1, effective May 24.
Structure Colorado Code
Part 4 - Mutual Insurance Companies
§ 10-12-401. Legislative Declaration
§ 10-12-402. Scope of Provisions
§ 10-12-403. Mutual Insurer Defined
§ 10-12-405. Applicability of Other Code and Corporation Code Provisions
§ 10-12-406. Lines of Business
§ 10-12-408. Liability of Members
§ 10-12-410. Insolvency or Impairment of Mutual Insurance Company
§ 10-12-411. Conversion of Domestic Mutual Insurer to Domestic Stock or Other Form of Insurer