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s_blt_2018a_2018-02-14t14:04:37z1 Hearing Summary




PUBLIC
BILL SUMMARY For SB18-125

SENATE COMMITTEE ON BUSINESS, LABOR, & TECHNOLOGY
Date Feb 14, 2018      
Location SCR 354



SB18-125 - Amended, referred to the Committee of the Whole


02:06:37 PM  

Senator Gardner introduced Senate Bill 18-125, concerning fiduciary duties of title insurance companies.  The bill requires title insurance companies and agents to hold funds belonging to others in a fiduciary capacity and requires the Commissioner of Insurance to promulgate rules to that effect.

02:10:38 PM  

Senator Kagan, co-sponsor, made comments on the origins of the bill.

02:12:33 PM  

Mike Conway, Commissioner of Insurance, spoke in support of the bill.

02:13:31 PM  

Senator Gardner distributed and discussed the purpose of Amendment L.002 (Attachment A).

02:15:00 PM  

Senator Kagan made additional comments regarding the amendment.

02:16:47 PM  

Mr. Conway responded to questions from the committee.

02:24:19 PM  
Senator Gardner made comments on the discussion.


02:28:25 PM
Motion Adopt amendment L.002
Moved Priola
Seconded
Jahn
Kerr
Priola
Smallwood
Williams A.
Neville T.
Tate
YES: 0   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  Pass Without Objection


02:29:19 PM
Motion Refer Senate Bill 18-125, as amended, to the Committee of the Whole.
Moved Priola
Seconded
Jahn Yes
Kerr Yes
Priola Yes
Smallwood Yes
Williams A. Yes
Neville T. Yes
Tate Yes
Final YES: 7   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  PASS