Second Regular Session
              Sixty-eighth General Assembly
                    STATE OF COLORADO
                                                 INTRODUCED
                                                           
                                                           
 LLS NO. 12-0755.01 Kristen Forrestal x4217HOUSE BILL 12-1211
                    HOUSE SPONSORSHIP
 Jones, 
 
                   SENATE SPONSORSHIP
 Nicholson, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 House Committees
 Senate Committees
 
 
 State, Veterans, & Military Affairs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning the requirement that a title insurance agent
            doing business in this state maintain an office within
            this state that is staffed by the designated responsible
            producer.
       
       
                           Bill Summary
       
            (Note: This summary applies to this bill as introduced and does
       not reflect any amendments that may be subsequently adopted. If this bill
       passes third reading in the house of introduction, a bill summary that
       applies to the reengrossed version of this bill will be available at
       http://www.leg.state.co.us/billsummaries.)
       
            The bill requires a title insurance agent doing business in this state
       to maintain a physical office within this state for its employees, including
       the designated responsible insurance producer. An attorney who is
       licensed to practice law in Colorado and who is a licensed title insurance
       agent is exempt from the requirement.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, 10-11-116, add (5)
       as follows:
            10-11-116.  Title insurance agents licensed - maintain office in
       state. (5)  A title insurance agent doing business in this state
       shall maintain a physical office within this state that is a bona
       fide business office and the primary workplace for one or more
       full-time employees, including the designated responsible
       insurance producer licensed pursuant to part 4 of article 2 of
       this title. This subsection (5) does not apply to an attorney who
       is issued a license pursuant to paragraph (c) of subsection (1) of
       this section.
            SECTION 2.  Act subject to petition - effective date. This act
       takes effect January 1, 2013; except that, if a referendum petition is filed
       pursuant to section 1 (3) of article V of the state constitution against this
       act or an item, section, or part of this act within the ninety-day period
       after final adjournment of the general assembly, then the act, item,
       section, or part will not take effect unless approved by the people at the
       general election to be held in November 2012 and, in such case, will take
       effect on January 1, 2013, or on the date of the official declaration of the
       vote thereon by the governor, whichever is later.