Illinois General Assembly - Bill Status for HB 2449

Amends the Title Insurance Act. Provides that the amendatory Act may be referred to as the Title Insurance Reform Act of 2023. Provides that no person, firm, partnership, association, corporation or other legal entity shall act as or hold itself out to be a title insurance agent without first procuring a certificate of authority from the Secretary of Financial and Professional Regulation (rather than unless duly registered by a title insurance company with the Secretary). Provides that a certificate of authority shall remain in effect unless revoked or suspended by the Secretary or voluntarily withdrawn by the holder, or when the holder of the certificate of authority is no longer authorized as a title insurance agent of a title insurance company. Provides that every applicant that is not duly registered as a title insurance agent on the effective date of the amendatory Act shall comply with specified requirements. Provides that the Secretary shall maintain a database of title insurance agents in good standing on a publicly accessible website that any person may use to verify the authority of a particular title insurance agent. Sets forth duties applicable to transactions involving residential real property for title insurance companies, title insurance agents, and independent escrowees. Effective immediately.

Date	Chamber	Action
3/27/2023	House	Rule 19(a) / Re-referred to Rules Committee

Date	Chamber	Action
2/15/2023	House	Filed with the Clerk by Rep. Ann M. Williams
2/15/2023	House	First Reading
2/15/2023	House	Referred to Rules Committee
2/23/2023	House	Assigned to Insurance Committee
3/7/2023	House	Do Pass / Short Debate Insurance Committee; 014-000-000
3/8/2023	House	Placed on Calendar 2nd Reading - Short Debate
3/22/2023	House	Second Reading - Short Debate
3/22/2023	House	Held on Calendar Order of Second Reading - Short Debate
3/27/2023	House	Rule 19(a) / Re-referred to Rules Committee