summary
Introduced
01/23/2017
01/23/2017
In Committee
09/05/2017
09/05/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
Relative to title insurance closing protection letters. Financial Services.
AI Summary
This bill amends the General Laws of Massachusetts to expressly authorize title insurance companies to issue closing protection letters upon request when issuing a preliminary report, binder, or title insurance policy. The bill requires title insurance companies to issue a closing protection letter for a fee of $50 per letter for residential properties with four or fewer units. The closing protection letter must be in a form adopted by the American Land Title Association, and the fee cannot be subject to any agreement requiring a division of the fee.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Amended by substitution of a bill with the same title, H5021 (on 12/27/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/190/H567 |
| Bill | https://malegislature.gov/Bills/190/H567.pdf |
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