2003 Regular Session

HOUSE BILL 802

File Code: Insurance - Other than Health
Sponsored By:
Delegate Fulton
Entitled:
Title Insurance - Trust Money Protection

Synopsis:

Requiring title insurers to provide reimbursement for actual loss of trust money sustained as a result of conversion or misappropriation by specified persons to specified sellers, purchasers, borrowers, and lenders in connection with specified real estate transactions; establishing specified limitations on the provision of reimbursement; providing for the allocation of liability for losses resulting from conversion or misappropriation of specified trust money under specified circumstances; etc.

History by Legislative Date

House Action
2/7
First Reading Economic Matters
2/12
Hearing 2/20 at 1:00 p.m.
3/18
Unfavorable Report by Economic Matters
Senate Action
No Action
Bill indexed under the following Subjects:
AGENTS AND BROKERS
CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
DISCLOSURE
ESCROW ACCOUNTS
FEES -see also- DEVELOPMENT FEES AND TAXES
FINANCE COMPANIES
FRAUD -see also- FORGERY
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
SETTLEMENT PROCEDURES
TITLES
Bill affects the following Statutes:
Insurance
( 22-102 , 22-104 , 27-216 , 27-216 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered