TITLE INSURANCE ACT-VARIOUS

Amends the Title Insurance Act. Makes a technical change in a Section concerning the short title. Senate Committee Amendment No. 1 Deletes reference to: 215 ILCS 155/1 Adds reference to: 215 ILCS 155/3 from Ch. 73, par. 1403 215 ILCS 155/5 from Ch. 73, par. 1405 215 ILCS 155/12 from Ch. 73, par. 1412 215 ILCS 155/14 from Ch. 73, par. 1414 215 ILCS 155/14.1 215 ILCS 155/16 from Ch. 73, par. 1416 215 ILCS 155/18 from Ch. 73, par. 1418 215 ILCS 155/18.2 new 215 ILCS 155/21 from Ch. 73, par. 1421 215 ILCS 155/23 from Ch. 73, par. 1423 215 ILCS 155/19 rep. 215 ILCS 155/24 rep. 215 ILCS 155/25 rep. Replaces everything after the enacting clause. Amends the Title Insurance Act. Provides that it is unlawful for any person, firm, partnership, association, corporation, or other legal entity to act as or hold itself out to be a title insurance agent unless first procuring from the Secretary of Financial and Professional Regulation a certificate of authority. Establishes fees for title insurance agents. Provides that every applicant for a certificate of authority that is a firm, partnership, association, corporation, or other legal entity shall designate and name at least one individual who (1) has a financial or other beneficial interest in the licensee and (2) is authorized by at least one title insurance company to determine insurability of title. Establishes requirements for the issuance of certificates of authority to title insurance agents. Changes provisions concerning criminal penalties and injunctive relief for violations. Effective immediately, except that the provisions concerning the filing of title insurance rates take effect September 1, 2020. Senate Floor Amendment No. 2 Provides that the Secretary of Financial and Professional Regulation or the Secretary's authorized representative shall have power and authority to compel an independent escrowee's compliance with specified provisions of the Title Insurance Act. Requires every title insurance company and independent escrowee to file with the Secretary the specification of services and schedule of fees for each fee intended to be charged to the parties to a transaction pursuant to specified provisions of the Act. In provisions concerning regulatory action, makes changes in provisions concerning referrals. Makes various changes to correct grammatical and typographical errors. House Committee Amendment No. 1 Deletes reference to: 215 ILCS 155/3 215 ILCS 155/5 215 ILCS 155/12 215 ILCS 155/14 215 ILCS 155/14.1 215 ILCS 155/16 215 ILCS 155/18 215 ILCS 155/18.2 new 215 ILCS 155/21 215 ILCS 155/23 215 ILCS 155/19 rep. 215 ILCS 155/24 rep. 215 ILCS 155/25 rep. Adds reference to: 215 ILCS 155/1 from Ch. 73, par. 1401 Replaces everything after the enacting clause. Amends the Title Insurance Act. Makes a technical change in a Section concerning the short title.