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2020 Colorado Revised Statutes
Title 10 - Insurance
Article 4. Property and Casualty Insurance
Section 10-4-302. Release of surety - other security.

Universal Citation:
CO Rev Stat § 10-4-302 (2020)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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Any surety upon the bond of any state, county, municipal, judicial district, irrigation district, or court officer shall be released from further liability as such surety for such officer by filing, with the person having authority to approve said bond or with whom said bond is directed to be filed, a notice that said surety is unwilling to continue to be surety for such officer. When any such notice is filed, written notice thereof shall immediately be given to such officer, who shall thereupon file other security to be approved as provided by law. If such officer, within ten days after the service of such notice upon him, does not file such bond to be approved, the office shall become vacant, and the vacancy shall be filled in the manner provided by law. If a new bond is given by any officer, as provided, the former surety shall be entirely released and discharged from all liability incurred by such officer from and after the time of giving of such notice, and the sureties to the new bond shall be liable therefor as provided in such bond.

Source: L. 79: Entire part R&RE, p. 361, § 7, effective July 1.

Editor's note: This section is similar to former § 10-4-322 as it existed prior to 1979.

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