Colorado Public Trustees’ Association

LEGISLATIVE COMMITTEE MEETING MINUTES

MARCH 11, 2004

The CPTA Legislative Committee meeting was called to order at noon in Broomfield on March 17, 2004.  Those in attendance were Karen Sheaffer, Holly Williams, Connie Joiner, Peggy Foley, Larry Gilliland, JimVentrello, Ed Murray, Bob Sagel, Peg Ackerman, and Debbie Wagner.

Peg and Debbie reported about current legislation: HB1300 concerning Notary Publics and HB1311 concerning Public Records.  HB1300 appears to be on its way to the Senate.  There was discussion concerning a proposal by Rich Krohn and Larry Castle to introduce a late bill removing the requirement for notarization of the Public Trustee’s signature on Releases of Deeds of Trust.  Peg & Debbie suggested that we contact them to see if they would be willing to try to amend HB1300 to accomplish this rather that running a late bill.  (After the meeting, Debbie called Michael Valdez of the Colorado Bar Association, who agreed with the committee.  He will call Rich Krohn.)  Peg asked that PT’s send a note of fiscal impact concerning HB1311 to Bob Sagel, who could then forward it on.  (After the meeting, Peg notified Bob that the bill will be amended in such a way that the fiscal impact notes will not be needed at this time.)

Bob reported that Rich Krohn had also been in contact with the Deputy DA from Mesa County.  She is working with the Attorney General’s office concerning the filing of the “Notice of Dismissal of Trustee” document.  The AG’s office will investigate whether or not criminal filings are warranted.

The next order of business was submission of ideas for legislative action for 2005.  The following suggestions were discussed:

1. Correct the foreclosure fee statute to change the calculation from $400,000.00 to $480,000.00;
2. Get better clarification of the indemnification section for releases  - perhaps deleting the section that allows for filing a Resolution of Indemnification from boards of directors of banks;
3. Lengthen the cure period and do away with owner redemptions;
4. Remove the requirement that continuances be read aloud;
5. Remove the requirement for filing two E & D’s – record and retain the original
6. Give PT’s the authority to void or cancel a sale after a certain amount of time if the attorney fails to file a Withdrawal

(Mary Schaefer had sent a suggestion to Bob that was not brought up at the meeting.  It was to lengthen the timeline for publication when a file has gone to sale in error due to bankruptcy, say to 20 days)

The meeting was adjourned at 1:25 p.m.

Submitted by Bob Sagel