HB 3064 Illinois House · 102nd Regular Session

TITLE INSURANCE ACT-VARIOUS

Summary
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. 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. 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 and referrals. Makes other changes. Effective immediately, except that the provisions concerning the filing of title insurance rates take effect September 1, 2022.
Bill status failed 1 of 4 stages cleared
Introduction
Feb 2021
Committee Review
Floor Vote
Governor
Introduced Feb 18, 2021 Last action Jan 10, 2023
Floor votes

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Full legislative history

Actions timeline

Total actions
6
Key actions
0
Committee
3
Jan 10, 2023
House · Failed
Session Sine Die
Mar 27, 2021
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Mar 16, 2021
House · Referred to committee
Assigned to Financial Institutions Committee
Feb 19, 2021
House · Referred to committee
Referred to Rules Committee
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Camille Lilly
Camille Lilly
DDemocratic
IL
78