FIRST REGULAR SESSION
HOUSE COMMITTEE SUBSTITUTE FOR
SENATE COMMITTEE SUBSTITUTE FOR
93RD GENERAL ASSEMBLY
Reported from the Committee on Local Government May 3, 2005, with recommendation that House Committee Substitute for Senate Committee Substitute for Senate Bill No. 57 Do Pass. Referred to the Committee on Rules pursuant to Rule 25(26)(f).
STEPHEN S. DAVIS, Chief Clerk
AN ACT
To amend chapter 381, RSMo, by adding thereto one new section relating to title insurance.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 381, RSMo, is amended by adding thereto one new section, to be known as section 381.012, to read as follows:
381.012. An employee of a title agency or title insurer is not required to be licensed if:
(1) The employee is an escrow processor whose primary responsibility is to obtain and prepare figures for closing real estate transactions and does not quote or negotiate title insurance rates nor determines title insurance policy coverages.
(2) The employee's primary duties are limited to clerical functions such as typing, filing, or performing bookkeeping duties and does not quote or negotiate title insurance rates nor determines title insurance policy coverages.
(3) The employee's primary duties are limited to providing technical support or advice regarding business systems, software, or other equipment used in the operation of the business and does not quote or negotiate title insurance rates or determine title insurance policy coverages.