Illinois General Assembly - Full Text of HB2973
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Full Text of HB2973  95th General Assembly

HB2973sam002 95TH GENERAL ASSEMBLY

Sen. Iris Y. Martinez

Filed: 10/10/2007

 

 


 

 


 
09500HB2973sam002 LRB095 06413 KBJ 39810 a

1
AMENDMENT TO HOUSE BILL 2973

2     AMENDMENT NO. ______. Amend House Bill 2973 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The Title Insurance Act is amended by adding
5 Section 24.6 as follows:
 
6     (215 ILCS 155/24.6 new)
7     Sec. 24.6. Named parties on transactions. For each
8 residential mortgage loan transaction in which a title
9 insurance company, title insurance agent, or independent
10 escrowee engages in title insurance business, the title
11 insurance company, title insurance agent, or independent
12 escrowee engaging in such business shall file with the
13 Secretary, on a form prescribed by the Secretary, the names and
14 license or registration numbers, if applicable, of each
15 financial institution, residential mortgage licensee, loan
16 originator, real estate appraiser, real estate licensee, and

 

 

09500HB2973sam002 - 2 - LRB095 06413 KBJ 39810 a

1 closing agent involved in the residential mortgage loan
2 transaction. The form shall be filed with the Secretary no
3 later than 7 days after the closing of the residential mortgage
4 loan transaction.".