reglab/housing_qa huggingface dataset:
CO Code § 10-11-105 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-105. Financial Requirements Prior to This Article

  Every domestic title insurance company which on July 1, 1969, has the capital required by law and whose reserve fund required by law has been approved by the state bank commissioner shall have until July 1 in the tenth year after July 1, 1969, to comply with the financial requirements of this article, but the capital and reserve fund of each such title insurance company shall at no time be less than that required by law immediately prior to July 1, 1969.    The reserve fund required by law immediately prior to July 1, 1969, for each domestic title insurance company engaged in the business of title insurance shall be supervised by the commissioner on and after July 1, 1969. As soon as practicable, the state bank commissioner shall furnish to the commissioner a list of all such title insurance companies and an inventory of securities and deposits approved by said bank commissioner for the reserve fund of each such company, and shall deliver to the commissioner all such securities and deposits then on deposit with the state bank commissioner and all safe deposit box keys, deposit receipts, certificates of deposit, and other evidences or means of control thereof to the commissioner. Every bank, savings and loan association, or other escrow or depository agent is authorized to accept the substitution of the commissioner for the state bank commissioner on any certificate of deposit or deposit receipt or any authority to enter a safe deposit box with reference to any reserve fund of a title insurance company. Every such bank, savings and loan association, or other escrow or depository agent and the state bank commissioner shall be held harmless from any liability as a result of such substitution and shall take such action as may be necessary or advisable to effect such substitution.     History. Source: L. 69: P. 521, § 1. C.R.S. 1963: § 72-26-5. History. Source: L. 69: P. 521, § 1. C.R.S. 1963: § 72-26-5.
CO Code § 10-11-106 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-106. Determination of Insurability Required

  No policy or contract of title insurance shall be written unless and until the title insurance company has caused to be conducted a reasonable examination of the title and has caused to be made a determination of insurability of title in accordance with sound underwriting practices for title insurance companies. Evidence thereof shall be preserved and retained in the files of the title insurance company or its agent for a period of not less than seven years after the policy or contract of title insurance has been issued. In lieu of retaining the original copy, the title insurance company, or the agent of the title insurance company, may, in the regular course of business, establish a system whereby all or part of these writings are recorded, copied, or reproduced by any photographic, photostatic, microfilm, microcard, miniature photographic, or other process which accurately reproduces or forms a durable medium for reproducing the original. This section shall not apply to either a company assuming no primary liability in a contract of reinsurance or a company acting as a coinsurer if one of the other coinsuring companies has complied with this section.    A title insurance company shall not be obligated to make a written disclosure to its prospective insureds prior to the issuance of a title insurance policy of the following documents if a reasonable examination of title referred to in subsection (1) of this section reveals a recorded document that:   Is a spurious lien or spurious document as defined in section 38-35-201, C.R.S.;    Is not, according to sound underwriting practices for title insurance companies, an impairment of record concerning the property to be insured; or    Although it may purport to do so, does not encumber the property to be insured.        History. Source: L. 69: P. 522, § 1. C.R.S. 1963: § 72-26-6. L. 97: Entire section amended, p. 38, § 4, effective March 20. L. 99: (1) amended, p. 27, § 1, effective August 4. History. Source: L. 69: P. 522, § 1. C.R.S. 1963: § 72-26-6. L. 97: Entire section amended, p. 38, § 4, effective March 20. L. 99: (1) amended, p. 27, § 1, effective August 4.
CO Code § 10-11-107 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-107. Powers

  Every title insurance company has the following powers:   To do the business defined in section 10-11-102 (3) and (8);    To own, manage, and maintain sets of abstract books and to make, compile, and sell abstracts of title to real estate;    To acquire by purchase or otherwise, and to hold, sell, mortgage, or otherwise dispose of, real estate and personal property, or any interest therein, either within or without the state of Colorado and to loan or borrow money upon such real estate or personal property.        History. Source: L. 69: P. 522, § 1. C.R.S. 1963: § 72-26-7. L. 83: (1)(b) amended, p. 512, § 1, effective May 16. History. Source: L. 69: P. 522, § 1. C.R.S. 1963: § 72-26-7. L. 83: (1)(b) amended, p. 512, § 1, effective May 16.    ANNOTATION   Law reviews. For article, “‘Good Funds' Law and New Title Insurance Regulations”, see 18 Colo. Law. 233 (1989).
CO Code § 10-11-108 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-108. Prohibitions

  A title insurance company or title insurance agent shall not:   Engage in the business of guaranteeing the payment of the principal or the interest of bonds, notes, or other obligations;    Transact, underwrite, or issue any kind of insurance other than title insurance;    Give or receive or attempt to give or receive remuneration in any form pursuant to any agreement or understanding, oral or otherwise, for the referral of title insurance business;    Give or receive or attempt to give or receive any portion or percentage of any charge made or received in connection with the business of title insurance if such charge is not for services actually rendered. For purposes of this article, “services actually rendered” shall include but not be limited to a reasonable examination of a title, including instruments of record, and a determination of insurability of such title in accordance with sound underwriting practices; “services actually rendered” shall not include the mere referral of title insurance business.       Nothing in this article, or in any other provision of law governing the insurance industry, shall be construed to prohibit:   Compensation by a title insurance company of an attorney who is licensed to practice in Colorado for services actually rendered in connection with a real estate transaction, regardless of whether such attorney represents a client in such real estate transaction. Compensation of the attorney for services actually rendered shall not include the payment of an hourly fee paid by the client combined with a payment from the title insurance company for the same service; except that prior to issuing any title insurance commitment, such attorney shall disclose to any party represented by such attorney in the transaction for which the commitment shall be issued that such attorney may be compensated for the issuance of such title insurance commitment.    Payment to any person of a bona fide salary or compensation for payment of goods and facilities actually furnished or for services actually rendered.       Any party to a transaction which is subject to this section shall have a right of action for any actual loss or damage resulting from any violation of this section.     History. Source: L. 69: P. 522, § 1. C.R.S. 1963: § 72-26-8. L. 92: Entire section amended, p. 1748, § 1, effective April 24. History. Source: L. 69: P. 522, § 1. C.R.S. 1963: § 72-26-8. L. 92: Entire section amended, p. 1748, § 1, effective April 24.    ANNOTATION   Law reviews. For article, “Affiliated Business Arrangements: Compliance with RESPA and H.B. 06-1141”, see 35 Colo. Law. 65 (Nov. 2006).   By failing to require “good funds” to complete a real estate closing in violation of § 38-35-125 and this section, title insurance agency injected an “illegal purpose” into the situation and the bargain became illegal. Guardian Title Agency, LLC v. Matrix Capital Bank, 141 F. Supp. 2d 1277 (D. Colo. 2001 ).
CO Code § 10-11-109 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-109. Unearned Premium Reserve

  In lieu of those reserves required for other insurance companies, every domestic title insurance company, and every foreign or alien title insurance company which under the state of domicile is not required to maintain a substantially equivalent unearned premium reserve, shall, in addition to other reserves, establish and maintain a reserve to be known as the “unearned premium reserve” for title insurance, which shall, at all times and for all purposes, constitute the unearned portions of premiums due or received and shall be charged as a reserve liability of such title insurance company in determining its financial condition.    The unearned premium reserve shall be retained and held by such title insurance company for the protection of the policyholders' interest in policies which have not expired. Except upon liquidation, dissolution, or insolvency, assets equal to the amount of such reserve shall not be subject to distribution among depositors or other creditors or stockholders of such title insurance company until all claims of policyholders or holders of other title insurance contracts or agreements of such title insurance company have been paid in full and all liability on the policies or other title insurance contracts or agreements, whether contingent or actual, has been discharged or lawfully reinsured. Income from the investment of the amount of such reserve shall be the unrestricted property of the title insurance company.     History. Source: L. 69: P. 522, § 1. C.R.S. 1963: § 72-26-9. History. Source: L. 69: P. 522, § 1. C.R.S. 1963: § 72-26-9.
CO Code § 10-11-111 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-111. Reserve for Unpaid Losses and Loss Expense

  Each title insurance company, in addition to other reserves, shall at all times establish and maintain reserves against unpaid losses, and against loss expense, and shall calculate such reserves by making a careful estimate in each case of the loss and loss expense likely to be incurred by reason of every claim presented, pursuant to notice from or on behalf of the policyholder, of a title defect in or lien or adverse claim against the title insured that may result in a loss or cause expense to be incurred for the proper disposition of the claim. The sums of the items so estimated shall be the total amounts of the reserves against unpaid losses and loss expenses of such title insurance company.    The amounts so estimated may be revised from time to time as circumstances warrant but shall be redetermined at least once each year.    The amounts set aside in such reserves in any year shall be deducted in determining the net profits for such year of any title insurance company.     History. Source: L. 69: P. 524, § 1. C.R.S. 1963: § 72-26-11. History. Source: L. 69: P. 524, § 1. C.R.S. 1963: § 72-26-11.
CO Code § 10-11-112 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-112. Net Retained Liability

 The net retained liability of any title insurance company under any single insurance risk, as defined in section 10-11-102 (4) and (7), shall not exceed fifty percent of the net amount remaining after deducting from the sum of its capital, surplus, unearned premium reserve, and voluntary reserves the value, if any, assigned in such summation to its title plant, all as shown in its most recent report on file with the commissioner. The same limitation shall apply to any secondary risk assumed by means of reinsurance or to any policy of excess coinsurance; except that, whenever the primary retained liability of a ceding company equals or exceeds ten percent of the single insurance risk liability, the net retained or assumed liability limit of this section may be increased by an additional two hundred fifty thousand dollars, but in no event above one hundred percent of the net amount remaining after deducting from the sum of its capital and surplus the value, if any, assigned in such summation to its title plant, all as shown by its most recent report on file with the commissioner. Nothing in this section is intended to limit the amount of a single insurance risk, as defined in section 10-11-102 (7) , that may be written by a title insurance company; but it shall cede to one or more other title reinsurers, on or before the effective date of such writing, such portion of the said risk as shall be sufficient to bring its net retained liability thereunder within the limits prescribed in this section; and each such cession of risk shall be within the limits of this section as applied to the sum of the capital, surplus, unearned premium reserve, and voluntary reserves, less the value, if any, assigned in such summation to the title plants of the reinsuring company, as shown by its most recent report on file with the supervisory agency in the state of its domicile.   History. Source: L. 69: P. 524, § 1. C.R.S. 1963: § 72-26-12. History. Source: L. 69: P. 524, § 1. C.R.S. 1963: § 72-26-12.
CO Code § 10-11-113 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-113. Power to Reinsure

 Any title insurance company may cede reinsurance of all or any part of its liability under one or more of its policies, contracts, or reinsurance agreements of title insurance to any reinsurer which meets or exceeds the financial requirements of a title insurance company to do business in this state and is authorized to engage in the business of reinsurance of title insurance in this or any other state; but no larger amount of reinsurance shall be ceded to any reinsurer on a single policy or contract of title insurance, or on any single insurance risk, as defined in section 10-11-102 (7) , than such reinsurer would be permitted to retain if authorized to engage in the business of title insurance in this state. Any title insurance company may also reinsure policies of title insurance issued by other insurance companies on risks located in this state or elsewhere. Any domestic title insurance company or any foreign or alien title insurance company authorized to do business in this state shall pay to this state taxes required on all business taxable within this state and reinsured, as provided in this section, with any foreign or alien company not authorized to do business within this state. Issuance of contracts of reinsurance by a reinsurer not authorized to engage in the business of title insurance in this state but authorized to engage in the business of title insurance or in the business of reinsurance of title insurance in any of the United States, which contracts reinsure policies of title insurance issued by a title insurance company authorized to engage in the business of title insurance in this state on real property located in this state, shall not of itself constitute the doing of business in this state by such reinsurer.   History. Source: L. 69: P. 525, § 1. C.R.S. 1963: § 72-26-13. History. Source: L. 69: P. 525, § 1. C.R.S. 1963: § 72-26-13.
CO Code § 10-11-114 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-114. Legal Investments and Admitted Assets

  Title insurance companies shall comply with the investment requirements for other insurance companies under the laws of this state but, in addition, may invest in a title plant. Such title plant shall be considered an admitted asset as provided by nationally recognized insurance statutory accounting principles. The real estate in which the title plant is housed shall be considered an investment under section 10-3-218. Subject to the limitations of this section and with the approval of the commissioner, a title insurance company may enter into agreements with one or more other title insurance companies authorized to do business in this state whereby such companies shall participate in the ownership, management, and control of a title plant to serve the needs of all such companies, or such companies may hold stock of a corporation owning and operating a title plant for such purposes.    A title insurance company shall include as an admitted asset accounts receivable relating to gross premiums, less agent retention, in the course of collection. Accounts receivable that are more than ninety days past due from the date of notification of the issuance of the policy shall not be included as an admitted asset.     History. Source: L. 69: P. 525, § 1. C.R.S. 1963: § 72-26-14. L. 2001: Entire section amended, p. 287, § 12, effective March 30. History. Source: L. 69: P. 525, § 1. C.R.S. 1963: § 72-26-14. L. 2001: Entire section amended, p. 287, § 12, effective March 30.    Cross references:   For the regulation of insurance company's investments, see §§ 10-3-213 to 10-3-237 .
CO Code § 10-11-115 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-115. Prior Investments

 Any investment of a title insurance company lawfully acquired before July 1, 1969, and which but for this section would be considered ineligible as an investment on such date shall be disposed of within five years from such date. The commissioner, upon application and proof that forced sale of any such investment would be contrary to the best interests of the title insurance company and its policyholders, may extend the period for sale or disposal of such investment for a further reasonable time, in no event to exceed three years.   History. Source: L. 69: P. 525, § 1. C.R.S. 1963: § 72-26-15. History. Source: L. 69: P. 525, § 1. C.R.S. 1963: § 72-26-15.
CO Code § 10-11-117 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-117. Title Insurance Agents - Certain Names Prohibited

 On and after July 1, 1969, no agent for a title insurance company shall adopt a firm name containing the words “title insurance”, “title guaranty”, or “title guarantee”, unless such words are followed by the words “agent” or “agency”. The words “agent” or “agency” must be in the same size and type as the words preceding them. This section shall not apply to any title insurance company acting as agent for another title insurance company.   History. Source: L. 69: P. 526, § 1. C.R.S. 1963: § 72-26-17. History. Source: L. 69: P. 526, § 1. C.R.S. 1963: § 72-26-17.
CO Code § 10-11-118 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-118. Title Insurance - Rules

  Title insurance rates and fees shall be regulated in the manner provided in part 4 of article 4 of this title.    Prior to the effective date of any new or amended rate or fee, every title insurance company and title insurance agent shall file with the commissioner the new or amended rate or fee, with justification for the new or amended rate or fee. Each filing shall set forth its effective date, which shall be no earlier than thirty days after its receipt by the commissioner. The commissioner may promulgate rules to implement this subsection (2).    No title insurance company or title insurance agent shall use any rate or fee in the business of title insurance prior to its effective date, and no rate or fee increase or decrease shall apply to title policies or services that have been contracted for prior to such effective date. All rates or fees shall be readily available to the public in each office of the title insurance company or title insurance agent in the county to which said rates or fees apply.     History. Source: L. 69: P. 526, § 1. C.R.S. 1963: § 72-26-18. L. 79: (1) amended, p. 377, § 14, effective July 1. L. 81: (2) R&RE, p. 562, § 2, effective July 1. L. 2000: Entire section amended, p. 468, § 8, effective August 2. L. 2001: (2)(b) amended, p. 19, § 1, effective March 9. L. 2009: Entire section amended,(HB 09-1155), ch. 22, p. 107, § 1, effective August 5. History. Source: L. 69: P. 526, § 1. C.R.S. 1963: § 72-26-18. L. 79: (1) amended, p. 377, § 14, effective July 1. L. 81: (2) R&RE, p. 562, § 2, effective July 1. L. 2000: Entire section amended, p. 468, § 8, effective August 2. L. 2001: (2)(b) amended, p. 19, § 1, effective March 9. L. 2009: Entire section amended,(HB 09-1155), ch. 22, p. 107, § 1, effective August 5.    Cross references:   For the legislative declaration contained in the 2000 act amending this section, see section 1 of chapter 135, Session Laws of Colorado 2000.   ANNOTATION   Law reviews . For article, “New Title Insurance Rates Authorized”, see 11 Colo. Law 931 (1982).
CO Code § 10-11-119 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-119. Laws Applicable

 In addition to the provisions of this article, the laws governing insurance companies, except as they are inconsistent with the provisions of this article, shall apply to the business of title insurance and to title insurance companies.   History. Source: L. 69: P. 526, § 1. C.R.S. 1963: § 72-26-19. History. Source: L. 69: P. 526, § 1. C.R.S. 1963: § 72-26-19.
CO Code § 10-11-120 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-120. Corporate Existence Preserved

 The repeal of article 12 of chapter 31, C.R.S. 1963, shall not affect the corporate existence of corporations organized under the provisions of said article 12 if such corporations are on July 1, 1969, engaged in the business of title insurance or title insurance agents in this state. Such corporations in all other respects shall be subject to the provisions of this article and shall file with the commissioner a copy of its articles of incorporation and all amendments thereto certified by the secretary of state.   History. Source: L. 69: P. 527, § 5. C.R.S. 1963: § 72-26-20. History. Source: L. 69: P. 527, § 5. C.R.S. 1963: § 72-26-20.
CO Code § 10-11-121 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-121. Application of Article - Other Laws Applicable

 The provisions of this article shall apply to all title insurance companies, title insurance rating organizations, title insurance agents, applicants for title insurance, policyholders, and persons and business entities deemed to be engaged in the business of title insurance. In addition to the provisions of this article, the laws governing insurance companies, except as they are inconsistent with the provisions or purposes of this article, shall apply to such persons and entities.   History. Source: L. 69: P. 528, § 6. C.R.S. 1963: § 72-26-21. L. 92: Entire section amended, p. 1573, § 95, effective May 20. History. Source: L. 69: P. 528, § 6. C.R.S. 1963: § 72-26-21. L. 92: Entire section amended, p. 1573, § 95, effective May 20.