§ 10-11-101. Short Title

This article shall be known and may be cited as the “Title Insurance Code of Colorado”. Source: L. 69: p. 520, § 1. C.R.S. 1963: § 72-26-1.

§ 10-11-102. Definitions

As used in this article 11, unless the context otherwise requires: “Affiliate” or “subsidiary” means a person who directly or indirectly, through one or more intermediaries: Controls a title insurance agent or title insurance company; Is controlled by a title insurance company; or Is under common control with a title insurance agent or title insurance […]

§ 10-11-103. Compliance With Article Required

On and after July 1, 1969, no company shall underwrite or issue a policy of title insurance or otherwise engage in the business of title insurance in this state unless authorized by the provisions of this article to transact such a business. Source: L. 69: p. 521, § 1. C.R.S. 1963: § 72-26-3.

§ 10-11-104. Corporate Form Required

Any domestic title insurance company formed after July 1, 1969, shall be organized as a stock corporation as provided in section 10-3-101. Source: L. 69: p. 521, § 1. C.R.S. 1963: § 72-26-4.

§ 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 […]

§ 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 […]

§ 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, […]

§ 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 […]

§ 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 […]

§ 10-11-110. Amount of Unearned Premium Reserve – Release

The unearned premium reserve of every title insurance company required to maintain such reserves in this state shall consist of: The amount of the unearned premium reserve held as of July 1, 1969, pursuant to law; and The amount of all additions required to be made to such reserve by this section, less the withdrawals […]

§ 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 […]

§ 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 […]

§ 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 […]

§ 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 […]

§ 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 […]

§ 10-11-116. Title Insurance Agents Licensed

Title insurance agents shall be licensed in the manner provided for insurance producers in part 4 of article 2 of this title, except as otherwise provided in this section. Full-time employees of a corporate contractual agent of a title insurance company authorized by such company or such contractual agent to issue or countersign binders or […]

§ 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 […]

§ 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 […]

§ 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. Source: L. 69: p. 526, § 1. C.R.S. 1963: § 72-26-19.

§ 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 […]