SB 18-125

signed

Title Insurance Entity Fiduciary Duties

Plain-English Summary

AI-generated

Senate Bill 18-125, now signed into law, requires companies that provide title insurance and related real estate services in Colorado to manage funds belonging to others with the highest level of responsibility. This means these companies must handle money received during real estate transactions very carefully and according to strict rules set by the state’s insurance commissioner. The new law affects anyone involved in a real estate transaction where title insurance is required, ensuring that their financial interests are protected. Since the bill has been signed, it is now enforceable law in Colorado.

Official Summary

The bill requires title insurance entities and affiliates or subsidiaries to hold funds belonging to others in a fiduciary capacity. 'Fiduciary funds' means all funds received in conjunction with real estate closing and settlement services. The commissioner of insurance shall promulgate rules regarding fiduciary funds. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

Details

Chamber: Senate
First action: 2018-03-29
Latest action: 2018-01-29
Last action desc.: Introduced In Senate - Assigned to Business, Labor, & Technology
OpenStates: View source ↗

Related Legislation

This bill affects (1)

relates

SB 17-285(2017A)· failed

Downtown Development Authorities Fairness Act

Affected by (12)

amends

HB 24-1137(2024A)· signed

Implement Fraudulent Filings Group Recommendations

relates

SB 25-133(2025A)· signed

Colorado Voidable Transactions Act

relates

HB 18-1047(2018A)· signed

Fair Campaign Practices Act Technical Changes

relates

HB 23-1253(2023A)· signed

Task Force To Study Corporate Housing Ownership

relates

SB 24-129(2024A)· signed

Nonprofit Member Data Privacy & Public Agencies

relates

SB 22-122(2022A)· signed

Uniform Voidable Transactions Act

relates

HB 26-1422(2026A)· signed

Security Measures for Certain Government Entities

relates

HB 22-1041(2022A)· signed

Privacy Protections For Protected Persons

relates

HB 22-1273(2022A)· signed

Protections For Elections Officials

relates

HB 23-1190(2023A)· signed

Affordable Housing Right Of First Refusal

relates

HB 24-1175(2024A)· signed

Local Goverments Rights to Property for Affordable Housing

repeals

SB 25-277(2025A)· signed

Sunset Title Insurance Commission

Votes

AMEND

2018-03-14 · House · pass — Yes: 33 · No: 0 · Other: —

BILL

2018-03-14 · House · pass — Yes: 33 · No: 0 · Other: —

BILL

2018-03-14 · House · pass — Yes: 61 · No: 2 · Other: —