CO SB119

Title insurance agents and companies must provide disclosure statements with owner's policy commitments for residential real property sales that a certificate of taxes due listing each taxing jurisdiction will be obtained from the county treasurer unless the proposed insured provides written instructions to the contrary.

Title insurance agents or companies shall obtain a certificate of taxes due or equivalent documentation from the county treasurer before issuing an owner's policy for residential real property sales, unless the proposed insured provides written instructions to the contrary.

The Commissioner of Insurance shall promulgate rules identifying alternative documentation that may be used when a certificate of taxes cannot be obtained from the county treasurer during the period when the county treasurer is certifying tax rolls, with the requirement that a tax certificate be obtained when it becomes available.

Section 10-11-122(3)(b) takes effect October 1, 2013; the remainder of the act takes effect January 1, 2015, subject to referendum petition procedures under the Colorado Constitution.