C.R.S. Section 10-11-106
Determination of insurability required

(1)

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.

(2)

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:

(a)

Is a spurious lien or spurious document as defined in section 38-35-201, C.R.S.;

(b)

Is not, according to sound underwriting practices for title insurance companies, an impairment of record concerning the property to be insured; or

(c)

Although it may purport to do so, does not encumber the property to be insured.

Source: Section 10-11-106 — Determination of insurability required, 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

§ 10-11-106’s source at colorado​.gov