Colorado Code
Article 20 - Life and Health Insurance Protection Association
§ 10-20-114. Miscellaneous Provisions

(3.5) As a creditor of an impaired or insolvent insurer as established in this section and consistent with section 10-3-533, the association and other similar associations are entitled to receive a disbursement of assets out of the marshaled assets from time to time as the assets become available to reimburse the association, as a credit against contractual obligations under this article. If the liquidator has not made an application to the receivership court for approval of a proposal to disburse assets out of marshaled assets to guaranty associations having obligations because of the insolvency within one hundred twenty days after a final determination of insolvency of an insurer by the receivership court, the association may apply to the receivership court for approval of its own proposal to disburse these assets.











Source: L. 91: Entire article added, p. 1278, § 1, effective July 1. L. 2013: (1), (2), (3), (4), (5)(a), and (5)(d) amended and (3.5) added, (SB 13-032), ch. 34, p. 98, § 9, effective March 15.

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