Senate Committee of Reference Report
Committee on Business, Labor, & Technology
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April 10, 2025
After consideration on the merits, the Committee recommends the following:
SB25-277 be amended as follows, and as so amended, be referred to the Committee of the Whole with favorable recommendation and with a recommendation that it be placed on the consent calendar:
Page 1, Line 1Amend printed bill, page 2, strike lines 2 and 3 and substitute:
Page 1, Line 2"SECTION 1. In Colorado Revised Statutes, amend 10-11-201
Page 1, Line 3as follows:
Page 1, Line 410-11-201. Title insurance advisory group - meetings -
Page 1, Line 5response by commissioner - subject to review - repeal. (1) There is
Page 1, Line 6hereby created in the division the title insurance commission Twice each
Page 1, Line 7year, the commissioner shall hold a meeting of representatives
Page 1, Line 8of the title insurance industry, who are referred to in this
Page 1, Line 9section as the "title insurance advisory group" or "advisory
Page 1, Line 10group". The commission advisory group is an advisory body to the
Page 1, Line 11commissioner concerning the promotion of fair competition,
Page 1, Line 12consumer protection, and regulatory compliance in matters of
Page 1, Line 13title insurance. Nothing in this section divests the commissioner of his or
Page 1, Line 14her the commissioner's authority to regulate the business of insurance.
Page 1, Line 15(2) (a) The commission consists of nine members appointed by the
Page 1, Line 16governor as follows:
Page 1, Line 17(I) Three members shall be employees of title insurance
Page 1, Line 18companies with the following qualifications:
Page 1, Line 19(A) Each shall be a licensed employee of a title insurance
Page 1, Line 20company with not less than five years' experience in title insurance
Page 1, Line 21business;
Page 1, Line 22(B) At least one shall be a representative of a title insurance
Page 1, Line 23company that has net admitted assets of five hundred million dollars or
Page 1, Line 24more; and
Page 1, Line 25(C) At least one shall be a representative of a title insurance
Page 1, Line 26company that has net admitted assets of less than five hundred million
Page 2, Line 1dollars.
Page 2, Line 2(II) Three members shall be employees of a title insurance agent
Page 2, Line 3with the following qualifications:
Page 2, Line 4(A) Each shall be a resident licensed title insurance agent with not
Page 2, Line 5less than five years' experience in title insurance business in Colorado;
Page 2, Line 6and
Page 2, Line 7(B) To the greatest extent possible the commission shall reflect
Page 2, Line 8the geographic diversity of the state and have representation from
Page 2, Line 9members who reside or have their principal place of business within a
Page 2, Line 10standard metropolitan statistical area and members who reside or whose
Page 2, Line 11principal place of business is outside a standard metropolitan statistical
Page 2, Line 12area.
Page 2, Line 13(III) Three members shall represent the public at large, shall be
Page 2, Line 14residents of Colorado, and shall not be engaged in the business of title
Page 2, Line 15insurance. At least one of the three public at large members shall reside
Page 2, Line 16outside a standard metropolitan statistical area.
Page 2, Line 17(b) No more than one member of the commission may be
Page 2, Line 18appointed from a single company or an affiliate or subsidiary of a
Page 2, Line 19company.
Page 2, Line 20(c) (I) The terms of the members are for four years; except that the
Page 2, Line 21terms shall be staggered so that no more than five members' terms expire
Page 2, Line 22in the same year. Members shall serve a maximum of two consecutive
Page 2, Line 23terms.
Page 2, Line 24(II) If a commission member's employment or license status
Page 2, Line 25changes during the member's term so that the member is no longer
Page 2, Line 26qualified to serve on the commission, or upon the death, resignation,
Page 2, Line 27removal, or incapacity of any member of the commission, the governor
Page 2, Line 28shall appoint a member to fill out the unexpired term. The members of the
Page 2, Line 29commission serve at the pleasure of the governor.
Page 2, Line 30(d) Members of the commission are not employees of the division
Page 2, Line 31and shall not receive compensation for service on the commission; except
Page 2, Line 32that a member may be reimbursed for mileage in excess of fifty miles
Page 2, Line 33from their principal place of business or residence to attend commission
Page 2, Line 34meetings.
Page 2, Line 35(e) Members of the commission shall annually select one member
Page 2, Line 36to serve as chair.
Page 2, Line 37(f) The chair of the commission may call meetings as necessary
Page 2, Line 38and may call additional meetings:
Page 2, Line 39(I) At the chair's discretion;
Page 2, Line 40(II) Upon request of the commissioner; or
Page 2, Line 41(III) Upon the written request of three or more members.
Page 2, Line 42(g) The commission shall meet no less than four times per year
Page 2, Line 43and may meet no more than eight times per year.
Page 3, Line 1(h) Six members shall constitute a quorum for the transaction of
Page 3, Line 2business. The action of a majority of the members when a quorum is
Page 3, Line 3present is the action of the commission.
Page 3, Line 4(i) The division shall aid in the administration of the commission.
Page 3, Line 5The division may increase expenditures by no more than fifty thousand
Page 3, Line 6dollars for this purpose, but may direct existing appropriations available
Page 3, Line 7to the division pursuant to section 10-3-207 (1)(f)(I) to contribute to the
Page 3, Line 8implementation of the commission.
Page 3, Line 9(j) All meetings of the commission shall be open to the public
Page 3, Line 10pursuant to part 4 of article 6 of title 24, C.R.S. The records of the
Page 3, Line 11commission and its members shall be subject to the requirements of part
Page 3, Line 122 of article 72 of title 24, C.R.S.
Page 3, Line 13(2) Meetings of the advisory group must be open to the
Page 3, Line 14public, and any member of the public may participate in a
Page 3, Line 15meeting.
Page 3, Line 16(3) Members of the title insurance advisory group are not
Page 3, Line 17employees of the division and shall not receive compensation for
Page 3, Line 18service on the advisory group.
Page 3, Line 19(4) The commissioner shall hold the first meeting of the
Page 3, Line 20title insurance advisory group on or before January 31 each
Page 3, Line 21year, and the commissioner shall hold the second meeting of the
Page 3, Line 22advisory group on or after June 1, but before August 1, each
Page 3, Line 23year unless an alternate time is proposed and accepted by the
Page 3, Line 24commissioner.
Page 3, Line 25(5) The commissioner or the commissioner's designee shall
Page 3, Line 26attend each of the two regular meetings described in subsection
Page 3, Line 27(4) of this section. Advisory group members may conduct
Page 3, Line 28additional meetings as the commissioner deems appropriate.
Page 3, Line 29(6) The commissioner shall respond in writing to formal
Page 3, Line 30written proposals or recommendations presented to the
Page 3, Line 31commissioner by the title insurance advisory group at a meeting.
Page 3, Line 32(7) This section is repealed, effective September 1, 2029.
Page 3, Line 33Before the repeal, the advisory group is scheduled for review in
Page 3, Line 34accordance with section 2-3-1203.
Page 3, Line 35SECTION 2. In Colorado Revised Statutes, repeal 10-11-202
Page 3, Line 36and 10-11-203.
Page 3, Line 37SECTION 3. In Colorado Revised Statutes, 2-3-1203, repeal
Page 3, Line 38(16)(a)(II); and add (20)(a)(X) as follows:
Page 3, Line 392-3-1203. Sunset review of advisory committees - legislative
Page 3, Line 40declaration - definition - repeal. (16) (a) The following statutory
Page 3, Line 41authorizations for the designated advisory committees will repeal on
Page 3, Line 42September 1, 2025:
Page 3, Line 43(II) The title insurance commission created in part 2 of article 11
Page 4, Line 1of title 10, C.R.S.;
Page 4, Line 2(20) (a) The following statutory authorizations for the designated
Page 4, Line 3advisory committees will repeal on September 1, 2029:
Page 4, Line 4(X) The title insurance advisory group described in part
Page 4, Line 52 of article 11 of title 10.".
Page 4, Line 6Renumber succeeding sections accordingly.
Page 4, Line 7Page 1, strike lines 102 through 104 and substitute "and, in connection
Page 4, Line 8therewith, requiring the commissioner of insurance to meet
Page 4, Line 9with a title insurance advisory group and repealing the title
Page 4, Line 10insurance advisory group in 2029 subject to a sunset review.".