C.R.S. Section 10-11-105
Financial requirements prior to this article

(1)

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.

(2)

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.

Source: Section 10-11-105 — Financial requirements prior to this article, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-10.­pdf (accessed Oct. 20, 2023).

10‑11‑101
Short title 10‑11‑102
Definitions 10‑11‑103
Compliance with article required 10‑11‑104
Corporate form required 10‑11‑105
Financial requirements prior to this article 10‑11‑106
Determination of insurability required 10‑11‑107
Powers 10‑11‑108
Prohibitions 10‑11‑109
Unearned premium reserve 10‑11‑110
Amount of unearned premium reserve - release 10‑11‑111
Reserve for unpaid losses and loss expense 10‑11‑112
Net retained liability 10‑11‑113
Power to reinsure 10‑11‑114
Legal investments and admitted assets 10‑11‑115
Prior investments 10‑11‑116
Title insurance agents licensed 10‑11‑117
Title insurance agents - certain names prohibited 10‑11‑118
Title insurance - rules 10‑11‑119
Laws applicable 10‑11‑120
Corporate existence preserved 10‑11‑121
Application of article - other laws applicable 10‑11‑122
Title commitments - rules 10‑11‑123
Notification of severed mineral estates 10‑11‑124
Affiliated business arrangements - rules - investigative information shared with division of real estate 10‑11‑125
Fees, salaries, compensation, or other payments 10‑11‑126
Affiliated business arrangements - enforcement - penalties 10‑11‑127
Fiduciary responsibilities of title insurance entities - definition of fiduciary funds - deceptive act or practice - rules 10‑11‑201
Title insurance commission - creation - advisory body - appointment of members - meetings 10‑11‑202
Powers, duties, and functions - recommendations on rules 10‑11‑203
Repeal of part
Green check means up to date. Up to date

Current through Fall 2024

§ 10-11-105’s source at colorado​.gov