(1) Any deposit made in this state under this part 3 shall be released and returned:
To the insurer upon extinguishment by reinsurance or otherwise of all liability of theinsurer for the security of which the deposit is held; or
To the insurer to the extent such deposit is in excess of the amount required; or
Upon proper order of a court of competent jurisdiction to the receiver, conservator,rehabilitator, liquidator of the insurer, or any other properly designated official who succeeds to the management and control of the insurer's assets.
Source: L. 53: p. 362, § 6. CRS 53: § 72-16-6. C.R.S. 1963: § 72-15-6.