Date	Chamber	Action
1/31/2024	House	Referred to Rules Committee

Statutes Amended In Order of Appearance

215 ILCS 155/3

from Ch. 73, par. 1403

215 ILCS 155/12

from Ch. 73, par. 1412

215 ILCS 155/15.2 new

215 ILCS 155/16

from Ch. 73, par. 1416

215 ILCS 155/16.2 new

215 ILCS 155/17.2 new

Synopsis As Introduced
Amends the Title Insurance Act. 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 surrendered 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. Sets forth provisions concerning applications for a certificate of authority and makes changes concerning the powers of the Secretary. 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. Makes other changes. Effective immediately.

Actions 

Date	Chamber	Action
1/22/2024	House	Filed with the Clerk by Rep. Ann M. Williams
1/31/2024	House	First Reading
1/31/2024	House	Referred to Rules Committee

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