CO SB125

Requires title insurance entities and their affiliates or subsidiaries to hold all fiduciary funds received in conjunction with real estate closing and settlement services in a fiduciary capacity.

Defines "fiduciary funds" as any money received during closing and settlement services except fees charged by the title insurance company or agent for performing those services.

Directs the Commissioner to promulgate rules requiring segregation and accounting of fiduciary funds, and requiring title insurance companies to notify the Commissioner of violations and changes in title insurance agent appointments, suspensions, or dismissals.

Adds definitions for "title insurance agency" (a corporation, partnership, or other legal entity that transacts title insurance business) and "title insurance entity" (a title insurance agent, agency, or company).

Declares the act necessary for immediate preservation of public peace, health, and safety.