(1) Except as otherwise provided in subsection (2) of this section, any captive insurance company authorized to do business in this state may take credit for reserves on risks ceded to a reinsurer pursuant to part 7 of article 3 of this title and any applicable rules.(2) Notwithstanding the provisions of subsection (1) of this section, any captive insurance company may cede risks to a reinsurer not meeting the standards of said subsection (1) and may take reserve credits if the captive insurance company receives prior written approval from the commissioner.Amended by 2014 Ch. 295, § 6, eff. 1/1/2015.L. 72: p. 436, § 1. C.R.S. 1963: § 72-36-22. L. 94: Entire section R&RE, p. 549, § 13, effective April 6. L. 2014: (1) amended, (HB 14-1315), ch. 295, p. 1218, § 6, effective 1/1/2015. For reinsurance generally, see § 10-3-701 .
Colorado Legal Code