Bill > H932

This bill allows title insurance companies to issue closing protection letters to individuals or entities who will be insured by a title insurance policy, provided the title insurance company or its agent has already issued a preliminary report, binder, or policy. Specifically, these closing protection letters must be issued by a title insurance company when a loan policy is issued for residential property with four or fewer units, and they will cost $50 per transaction, with the fee not being subject to any agreement for division.