Section 10-13-109 - Authority conferred on corporations

Any corporation organized under the laws of this state, in addition to the rights, powers, and franchises specified in its articles of incorporation, has full power to exchange insurance contracts of the kind and character mentioned in section 10-13-101. The right to exchange such contracts is declared to be incidental to the purposes for which such corporations are organized and as much granted as the rights and powers expressly conferred.L. 13: p. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-9. C.R.S. 1963: § 72-4-9.The word 'corporation' as used in this section is limited to those engaged in the business of insurance or suretyship. See definition in § 10-1-102(6).