If a dividing insurer will not survive a division, the plan of division must include, in addition to the requirements described in section 10-3-1702, the manner in which the dividing insurer will cancel or convert shares in the dividing insurer into shares, securities, obligations, rights to acquire shares or securities, cash, property, or any combination thereof.
Source: L. 2021: Entire part added, (HB 21-1013), ch. 144, p. 845, § 1, effective September 7.
Structure Colorado Code
Article 3 - Regulation of Insurance Companies
Part 17 - Domestic Stock Insurer Division
§ 10-3-1702. Plan of Division - General Requirements
§ 10-3-1703. Plan of Division - Dividing Insurer to Survive Division
§ 10-3-1704. Plan of Division - Dividing Insurer to Not Survive Division
§ 10-3-1705. Amending Plan of Division
§ 10-3-1706. Abandoning Plan of Division
§ 10-3-1707. Approval of Plan of Division - Articles of Incorporation and Bylaws
§ 10-3-1708. Commissioner Approval of Plan of Division
§ 10-3-1709. Confidentiality - Records
§ 10-3-1710. Certificate of Division
§ 10-3-1711. After Division Is Effective
§ 10-3-1712. Resulting Insurers' Liability for Allocated Assets and Debts
§ 10-3-1713. Shareholder Appraisal Rights
§ 10-3-1715. Enforcement by Commissioner
§ 10-3-1716. Merger or Consolidation Effective With Division