Bill Status of SB 2828   95th General Assembly

Short Description:  TITLE INSURANCE-NAMED PARTIES

Senate Sponsors
Sen. Iris Y. Martinez-Jacqueline Y. Collins-William Delgado

House Sponsors
(Rep. Cynthia Soto)


Last Action  View All Actions

DateChamber Action
  1/13/2009SenateSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 155/24.6 new

Synopsis As Introduced
Amends the Title Insurance Act. Provides that for each residential mortgage loan transaction in which a title insurance company, title insurance agent, or independent escrowee engages in title insurance business, the title insurance company, title insurance agent, or independent escrowee engaging in such business shall file with the Secretary of Financial and Professional Regulation, on a form prescribed by the Secretary, the names and license or registration numbers of each financial institution, residential mortgage licensee, loan originator, real estate appraiser, real estate licensee, and closing agent involved in the residential mortgage loan transaction. Provides that the form shall be filed with the Secretary no later than 7 days after the closing of the transaction. Provides that a title insurance company, independent escrowee, or title insurance agent that makes reasonable efforts to comply with the provision shall not be subject to disciplinary action or liability arising from the completeness or accuracy of information contained in the disclosure. Makes other changes. Effective immediately.

Actions 
DateChamber Action
  2/15/2008SenateFiled with Secretary by Sen. Iris Y. Martinez
  2/15/2008SenateFirst Reading
  2/15/2008SenateReferred to Rules
  3/5/2008SenateAssigned to Financial Institutions
  3/13/2008SenateDo Pass Financial Institutions; 005-003-000
  3/13/2008SenatePlaced on Calendar Order of 2nd Reading April 1, 2008
  4/1/2008SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  4/1/2008SenateSecond Reading
  4/1/2008SenatePlaced on Calendar Order of 3rd Reading April 2, 2008
  4/1/2008SenateAdded as Chief Co-Sponsor Sen. William Delgado
  4/15/2008SenateThird Reading - Passed; 043-007-001
  4/15/2008HouseArrived in House
  4/15/2008HousePlaced on Calendar Order of First Reading
  4/15/2008HouseChief House Sponsor Rep. Cynthia Soto
  4/15/2008HouseFirst Reading
  4/15/2008HouseReferred to Rules Committee
  5/12/2008HouseAssigned to Judiciary I - Civil Law Committee
  5/23/2008HouseFinal Action Deadline Extended-9(b) May 31, 2008
  5/31/2008HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2009SenateSession Sine Die

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