Colorado Code
Article 6 - Captive Insurance Companies
§ 10-6-116. Capital and Surplus Requirements

(1.5) Upon a written finding by the commissioner that the approved plan of operation or the operational results of the captive insurance company require either additional capital or a larger surplus than required by this section, the commissioner may require that additional capital or surplus, or both, be obtained. Additional capital or surplus may be tendered in the form of an irrevocable letter of credit as set forth in subsection (2) of this section.




Source: L. 72: p. 434, § 1. C.R.S. 1963: § 72-36-16. L. 87: (1) amended, p. 437, § 5, effective May 22. L. 89: (2) amended, p. 465, § 10, effective April 15. L. 92: (2) amended, p. 1562, § 71, effective May 20. L. 94: Entire section amended, p. 547, § 10, effective April 6. L. 2003: (2) amended, p. 617, § 15, effective July 1.

Structure Colorado Code