Section 8100.1600  Registration of Title Insurance Agents

a)         Each company shall make the annual filing of the required registration form for title insurance agents on or before February 1 of each year. Included with the filing shall be the annual fee computed in accordance with Section 14(b) of the Act.

b)         Each company shall file supplemental registrations for new title insurance agents.  Each new title insurance agent shall be registered with the Division within 30 days after the signing of the agency agreement.

c)         No title insurance agent shall conduct business before:

1)         having obtained errors and omissions insurance, if required by the terms of the agency agreement, in an amount acceptable to the title insurance company appointing the agent; and

2)         being registered with the Division.

d)         A company may voluntarily withdraw the registration of a title insurance agent or limit the duties of a title insurance agent.  Within 5 business days after the withdrawal or limitation, the company shall notify the Division of the action taken.

e)         Withdrawal of the registration of a title insurance agent or limitation of the duties of a title insurance agent shall not be deemed to prevent the Division from taking action under Section 21(a) of the Act.

(Source:  Amended at 34 Ill. Reg. 852, effective December 29, 2009)