NOTE: The governor signed this measure on 5/11/2013.
      
      
      SENATE BILL 13-119
      
      
      BY SENATOR(S) Jones, Brophy, Harvey, Jahn, Roberts;
      also REPRESENTATIVE(S) Scott, Swalm, McLachlan, Ryden, Priola.
      
      
      Concerning clarification of the requirement for a certificate of
           taxes due in connection with title insurance.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 10-11-122, amend (1)
      introductory portion, (1) (b), and (3) as follows:
      
           10-11-122.  Title commitments. (1)  Every title insurance agent or
      title insurance company shall provide, along with each title commitment
      issued for the sale of commitment for an owner's policy of title
      insurance pertaining to a sale of residential real property as defined in
      section 39-1-102 (14.5), C.R.S., a statement disclosing the following
      information:
      
           (b)  That a certificate of taxes due listing each taxing jurisdiction
      shall will be obtained from the county treasurer of the county in which
      the subject real property is located or the that county treasurer's
      authorized agent unless the proposed insured provides written
      instructions to the contrary; and
      
           (3) (a)  Before issuing any owner's policy of title insurance policy
      pertaining to a sale of residential real property, unless the proposed
      insured provides written instructions to the contrary, a title insurance agent
      or title insurance company shall obtain a certificate of taxes due or other
      equivalent documentation from the county treasurer or the county treasurer's
      authorized agent.
      
           (b)  To address circumstances in which a certificate of taxes
      cannot be obtained from the county treasurer or the county
      treasurer's authorized agent during the period in which the
      county treasurer is certifying the tax rolls, the commissioner of
      insurance shall promulgate rules, in accordance with article 4 of
      title 24, C.R.S., that identify alternative documentation that may
      be used and relied upon during that period. If a title insurance
      agent or title insurance company uses alternative documentation
      during this period, the agent or company shall obtain a tax
      certificate when it becomes available from the county treasurer
      or the county treasurer's authorized agent.
      
           SECTION 2.  Act subject to petition - effective date. (1)  Except
      as otherwise provided in subsection (2) of this section, this act takes effect
      January 1, 2015; 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 2014 and, in such case, will take effect January 1, 2015,
      or on the date of the official declaration of the vote thereon by the governor,
      whichever is later.
      
           (2)  Section 10-11-122 (3) (b), Colorado Revised Statutes, as
      amended in section 1 of this act, takes effect October 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 against the amendment to section
      10-11-122 (3) (b), Colorado Revised Statutes, in section (1) of this act
      within the ninety-day period after final adjournment of the general
      assembly, then section 10-11-122 (3) (b), Colorado Revised Statutes, as
      amended in section 1 of this act, will not take effect unless approved by the
      people at the general election to be held in November 2014 and, in such
      case, will take effect on the date of the official declaration of the vote
      thereon by the governor.
      
      
      
      
      ____________________________  ____________________________
      John P. Morse                         Mark Ferrandino
      PRESIDENT OF                     SPEAKER OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
      
      
      ____________________________  ____________________________
      Cindi L. Markwell                      Marilyn Eddins
      SECRETARY OF                 CHIEF CLERK OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO