MA H5021

Bill

MA H5021

Relative to title insurance closing protection letters

Introduced
12/27/2018

In Committee

Crossed Over
12/27/2018

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

Substituted by the House, on motion of Mr. Speliotis of Danvers, for a bill with the same title (House, No. 567). December 27, 2018.

AI Summary

This bill amends the Massachusetts General Laws to require title insurance companies to issue closing protection letters to proposed insureds upon request, provided the company or its title agent issues a preliminary report, insurance binder, or title insurance policy for the same real estate transaction. The closing protection letter is an indemnification or undertaking from the title insurance company that outlines its responsibility for intentional misconduct or errors by a settlement agent, such as a title insurance agent or other settlement service provider, during the closing of the real property transaction. The bill also specifies that a closing protection letter shall be required for the issuance of any loan policy insuring a lender's interest in residential property intended for residential occupancy containing 4 or fewer units.

Sponsors (1)

Theodore Speliotis (D),

Last Action

Passed to be engrossed (on 12/27/2018)

Official Document

https://malegislature.gov/Bills/190/H5021

(6 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/H5021
Bill	https://malegislature.gov/Bills/190/H5021.pdf

Bill	Bill Name	Last Action	Type
H497	Relative to an investigation of flood insurance by the attorney general	Accompanied a study order, see H4778	Similar To
H4977	Relative to health insurance benefits for certain retirees in the town of Pembroke	Signed by the Governor, Chapter 419 of the Acts of 2018	Similar To
H5026	Relative to interstate branching of a credit union and the Massachusetts Credit Union Share Insurance Corporation	Passed to be engrossed	Similar To
H567	Relative to title insurance closing protection letters	Amended by substitution of a bill with the same title, H5021	Similar To
H587	To require written notice of medical tests outside a patient’s network for insurance purposes	Accompanied a new draft, see H4333	Similar To
S578	Relative to notice requirements for insurance premium changes and insurance coverage changes	Accompanied a study order, see S2496	Similar To

Bill > H5021

summary

Introduced Session

Bill Summary

AI Summary

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

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