SB 57 Exempts certain employees from holding a title insurance license
Sponsor: Klindt
LR Number: 0258L.06C Fiscal Note: 0258-06
Committee: Small Business, Insurance & Industrial Relations
Last Action: 5/13/2005 - H Calendar S Bills for Third Reading Journal Page:
Title: HCS SCS SB 57 Calendar Position:
Effective Date: August 28, 2005
House Handler: Wilson

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Current Bill Summary

HCS/SCS/SB 57 - This act exempts certain employees of a title agency or title insurer from possessing a license. An employee will not be required to hold a license if:

(1) He or she is an escrow processor whose primary responsibility is to obtain and prepare figures for closing real estate transactions.

(2) The employee's primary duties are limited to clerical functions.

(3) The employee's primary duties are limited to providing technical support or advice regarding business systems, software or other business equipment.

In order to qualify for the above exemptions, the employee cannot quote or negotiate title insurance rates or determine title insurance policy coverages.