§ 10-11-125 — Fees, salaries, compensation, or other payments

Colorado § 10-11-125

• Jurisdiction: Colorado
• Title 10: Insurance
• Art.: Title Insurance

Text

(1) Nothing in
section 10-11-124 or 10-11-126 shall be construed to prohibit payment of a fee to:

(a) An attorney for services actually rendered;

(b) A title insurance company to its duly appointed agent for services
actually performed in the issuance of a policy of title insurance; or

(c) A lender to its duly appointed agent for services actually performed in
the making of a loan.

(2) Nothing in section 10-11-124 or 10-11-126 shall be construed to prohibit
payment to any person of:

(a) A bona fide salary or compensation or other payment for goods or
facilities actually furnished or for services actually performed; or

(b) A fee pursuant to cooperative brokerage and referral arrangements or
agreements between real estate brokers.

(3) It shall not be a violation of section 10-11-124:

(a) For an affiliated business arrangement to require a buyer, borrower, or
seller to pay for the services of any attorney, credit reporting agency, or real estate
appraiser chosen by the lender to represent the lender's interest in a real estate
transaction; or

(b) For an affiliated business arrangement where an attorney or law firm
represents a client in a real estate transaction and issues or arranges for the
issuance of a policy of title insurance in the transaction directly as agent or through
a separate corporate title insurance agency that may be established by that
attorney or law firm and operated as an adjunct to his or her law practice.

Legislative History

Source: L. 2006: Entire section added, p. 267, � 2, effective July 1.