summary
Introduced
02/06/2026
02/06/2026
In Committee
02/24/2026
02/24/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Title Insurance Act. Makes changes to defined terms. Prohibits any person from acting as a title insurance agent unless that person: (i) has been issued a license by the Secretary of Financial and Professional Regulation; and (ii) is registered with the Department of Financial and Professional Regulation by at least one title insurance company to perform core title agent services. Establishes disclosure requirements for criminal or disciplinary action involving a title insurance company, a title insurance agent, or independent escrowee. Requires every title insurance agent to obtain and maintain errors and omissions insurance or its equivalent in an amount that depends on whether the title insurance agent is also acting as an escrow agent. Sets forth provisions concerning requirements for the application of a title insurance agent license. Prohibits any individual, firm, association, partnership, or corporation from operating as a prelicensing or continuing education provider or administering examinations unless the provider holds a certification issued by the Department. Provides that the Secretary may set terms and conditions that a person shall be required to comply with during the term of probation for the person's authorization to operate. Effective immediately.
AI Summary
This bill amends the Title Insurance Act to establish new licensing and registration requirements for title insurance agents, requiring them to be licensed by the Secretary of Financial and Professional Regulation and registered by a title insurance company to perform core title agent services, which are defined as evaluating title searches, issuing commitments, determining if conditions are met, and issuing policies. It also mandates that title insurance agents obtain errors and omissions insurance, with coverage amounts varying based on whether they also act as escrow agents (entities that hold funds or documents for real estate transactions until certain conditions are met). The bill introduces disclosure requirements for criminal or disciplinary actions involving title insurance companies or agents, and establishes certification requirements for entities providing prelicensing or continuing education for title insurance professionals. Additionally, it grants the Secretary the authority to set terms for probation for those with an "authorization to operate" (a license, certification, or registration) and makes changes to various fees associated with the Act.
Committee Categories
Justice
Sponsors (1)
Last Action
Assigned to Judiciary (on 02/24/2026)
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