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SB18-125

Title Insurance Entity Fiduciary Duties

Concerning fiduciary responsibilities of title insurance entities to protect funds held in conjunction with real estate closing settlement services.
Session:
2018 Regular Session
Subject:
Insurance
Bill Summary

The bill requires title insurance entities and affiliates or subsidiaries to hold funds belonging to others in a fiduciary capacity. 'Fiduciary funds' means all funds received in conjunction with real estate closing and settlement services. The commissioner of insurance shall promulgate rules regarding fiduciary funds.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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Status

Introduced
Passed
Became Law

Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Sen. B. Gardner, Sen. D. Kagan
Rep. P. Lee

Sponsor

Co-sponsor


Rep. T. Exum, Rep. M. Gray, Rep. J. Singer, Rep. D. Valdez