Amendments implements the department of regulatory agencies (DORA) recommendation in its 2024 sunset report to repeal the title insurance commission.
Also, requires the commissioner of insurance to hold a meeting of representatives of the title insurance industry twice a year; known as the title insurance advisory group.
Sets out requirement for the commissioner/commissioner's designee to attend each of the two meetings, and the commissioner must respond in writing accordingly.
Specifically responses must be in writing to formal, written proposals or recommendations presented to the commissioner by the advisory group at a meeting.
The advisory group is repealed, eff. Sep. 1, 2029, subject to a sunset review.
Legislative History
On Apr. 4, 2025, bill introduced in Senate; on Apr. 15, 2025, bill passed in Senate.
On Apr. 15, 2025, bill introduced in House; on Apr. 25, 2025, bill passed in House.
On May 2, 2025, bill sent to governor; on May 24, 2025, governor signed bill into law.
Effectiveness
Act takes effect 12:01 a.m. on day after expiration of 90-day period after final adjournment of the general assembly; adjourned May 7, 2025, effective Aug. 6, 2025.
Regulators
COL LEG
Entity Types
Ins
Reference
Bill, SB25-277, 5/24/2025; Citation: COL LEG 2-3-1203; *COL INS* 10-11-201, 10-11-202, 10-11-203, 10-11-102;
