SB 25-277

Senate Bill 25-277 in Colorado eliminates the Title Insurance Commission and replaces it with an advisory group that meets twice a year. This new group will provide recommendations to the commissioner of insurance on title insurance matters, who must respond in writing to these suggestions. The advisory group itself is set to end in 2029 but could be reviewed for extension before then. Since the bill has been signed into law, its changes are now official and in effect.

Official Summary

The act implements the recommendation of the department of regulatory agencies in the department's 2024 sunset report that the title insurance commission be repealed. The act also requires the commissioner of insurance to hold twice each year a meeting of representatives of the title insurance industry, who are referred to as the "title insurance advisory group" (advisory group). The commissioner or the commissioner's designee must attend each of the 2 meetings, and the commissioner must respond in writing to formal, written proposals or recommendations presented to the commissioner by the advisory group at a meeting. The advisory group is repealed, effective September 1, 2029, subject to a sunset review. (Note: This summary applies to this bill as enacted.)

Votes