SENATE BILL 941

Sponsored By:

Senator Kelley

Entitled:

Title Insurance - Closing Protection

Synopsis:

Requiring a title insurer, its agent, or its employee that accepts a specified closing protection fee under specified circumstances to provide specified notice about the closing protection fee in a specified manner; requiring title insurers under specified circumstances to provide specified protected parties with reimbursement for actual loss of the protected party's trust money that is converted or misappropriated by the title insurer, title insurance producers, or their employees; etc.

History by Legislative and Calendar Date

Senate Action

2/28

First Reading Senate Rules

3/2

Re-referred Finance

3/3

Hearing 3/22 at 1:00 p.m.

3/17

Hearing cancelled

3/21

Unfavorable Report by Finance Withdrawn

House Action

No Action

Bill indexed under the following Subjects:

Agents and Brokers

Consumer Protection -see also- Unfair Trade Practices

Disclosure

Fees -see also- Attys' Fees; Devt Fees & Taxes; Reimb Rates.

Insurance Administration

Insurance -see also- Health Ins; MAIF; Motor Vehicle Ins

Liability -see also- Good Samaritan

Notices

Real Estate -see also- Agents and Brokers

Real Property

Records -see also- Land Records; Vital Records

Revenue and Taxes -see also- Dev Fees & Taxes; specific tax.

Rules and Regulations

Security Deposits

Settlement Procedures

Titles

Bill affects the following Statutes:

Insurance

( 22-102 , 22-104 )

Documents

Bill Text: First Reading, Third Reading, Enrolled

Fiscal and Policy Note: Not available at this time

Amendments: None offered

Committee Votes :

Senate

Finance