Approval and record of investments
C.R.S. § 10-3-234
in effect10-3-234. Approval and record of investments. (1) No investment, loan, or sale thereof shall, except as to loans on a life insurance company's policies or annuity and supplementary contracts, be made by any domestic insurance company:
(a) Without the advance approval of its board of directors or of a committee appointed by such board and charged with the duty of making such investments, loans, or sales or of an officer charged with such duty; or
(b) Unless the transaction is:
(I) Transacted in compliance with a written policy or plan approved by its board of directors prior to the transaction; and
(II) Ratified by such board or by a committee appointed by such board charged with the duty of reviewing such investments, loans, and sales at a meeting held not less than quarterly.
(2) A permanent written record of all such investments, loans, and sales shall be maintained by the company.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-10.docx#10-3-234Fetched: 10/6/2026