Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2022 | Updated by FindLaw Staff
(1) Any receiver appointed in a proceeding under this part 5 may at any time apply for, and any court of general jurisdiction may grant, such restraining orders, preliminary and permanent injunctions, and other orders as may be deemed necessary and proper to prevent:
(a) The transaction of further business;
(b) The transfer of property;
(c) Interference with the receiver or with a proceeding under this part 5;
(d) Waste of the insurer's assets;
(e) Dissipation or transfer, or both, of bank accounts;
(f) The institution or further prosecution of any actions or proceedings;
(g) The obtaining of preferences, judgments, attachments, garnishments, or liens against the insurer, its assets, or its policyholders;
(h) The levying of execution against the insurer, its assets, or its policyholders;
(i) The making of any sale or deed for nonpayment of taxes or assessments that would tend to lessen the value of the assets of the insurer;
(j) The withholding from the receiver of books, accounts, documents, or other records relating to the business of the insurer; or
(k) Any other threatened or contemplated action that might tend to lessen the value of the insurer's assets or prejudice the rights of policyholders, creditors, or shareholders or the administration of any proceeding under this part 5.
(2) The receiver may, if necessary, apply to any court outside of the state for the relief described in subsection (1) of this section.
(3) Notwithstanding subsections (1) and (2) of this section and any other provision of this title, a federal home loan bank shall not be stayed, enjoined, or prohibited from exercising or enforcing any right or cause of action regarding collateral pledged under a security agreement or under any pledge agreement, security agreement, collateral agreement, guarantee agreement, or other similar arrangement or credit enhancement relating to a security agreement to which the federal home loan bank is a party.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 10. Insurance § 10-3-505. Injunctions--orders - last updated January 01, 2022 | https://codes.findlaw.com/co/title-10-insurance/co-rev-st-sect-10-3-505/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)