Bill Summary for Bill Number HB06-1141

Date: 03/06/2006

Final
BILL SUMMARY for HB06-1141

SENATE COMMITTEE ON BUSINESS, LABOR AND TECHNOLOGY

Votes: View-->	Action Taken:
Amendment L.002. The motion passed without object Refer HB 1141 to the Committee of the Whole, as am	TIE PASS

01:39 PM -- House Bill 06-1141

Senator Grossman introduced his bill concerning affiliated business arrangements between insurance companies, title insurance agents, settlement producers, and real estate brokers. The bill would authorize such arrangements if they do not involve compensation for the referral of title insurance business.

01:44 PM -- Julie Kreps, Department of Regulatory Agencies, spoke in favor of the bill. She described the process by which the Division of Insurance established the types of business arrangements that currently exist in the state. The division has already begun work to identify illegal affiliated business arrangements.

01:46 PM -- Cathy Wanstrath, Land Title Association of Colorado, spoke in support of the bill.

01:49 PM

Senator Grossman described an amendment to the bill. He asked Ms. Kreps to respond to a question from the committee asking what defines a "sham" business. He provided a copy of the amendment to the committee (Attachment A).


BILL:	HB06-1141
TIME:	01:55:49 PM
MOVED:	Tochtrop
MOTION:	Amendment L.002. The motion passed without objection.
SECONDED:
		VOTE
	Evans	Excused
	Hanna
	Kester
	Takis
	Wiens
	Tochtrop
	Veiga
Not Final YES: 0 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: TIE


BILL:	HB06-1141
TIME:	01:56:09 PM
MOVED:	Tochtrop
MOTION:	Refer HB 1141 to the Committee of the Whole, as amended. The motion passed 6-0-1.
SECONDED:
		VOTE
	Evans	Excused
	Hanna	Yes
	Kester	Yes
	Takis	Yes
	Wiens	Yes
	Tochtrop	Yes
	Veiga	Yes
Final YES: 6 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS