Bill Status of SB3902

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SB3902 - 104th General Assembly

TITLE INSURANCE-VARIOUS
Last Action
3/04/2026 - Senate: Postponed - Judiciary
Senate Sponsors
Sen. Mark L. Walker
Statutes Amended In Order of Appearance
215 ILCS 155/3from Ch. 73, par. 1403
215 ILCS 155/5.1 new
215 ILCS 155/6from Ch. 73, par. 1406
215 ILCS 155/12from Ch. 73, par. 1412
215 ILCS 155/12.1 new
215 ILCS 155/14from Ch. 73, par. 1414
215 ILCS 155/16from Ch. 73, par. 1416
215 ILCS 155/16.2 new
215 ILCS 155/16.3 new
215 ILCS 155/20from Ch. 73, par. 1420
215 ILCS 155/21from Ch. 73, par. 1421
215 ILCS 155/21.2
215 ILCS 155/21.4 new
215 ILCS 155/23from Ch. 73, par. 1423
Synopsis As Introduced
Amends the Title Insurance Act. Makes changes to defined terms. Prohibits any person from acting as a title insurance agent unless that person: (i) has been issued a license by the Secretary of Financial and Professional Regulation; and (ii) is registered with the Department of Financial and Professional Regulation by at least one title insurance company to perform core title agent services. Establishes disclosure requirements for criminal or disciplinary action involving a title insurance company, a title insurance agent, or independent escrowee. Requires every title insurance agent to obtain and maintain errors and omissions insurance or its equivalent in an amount that depends on whether the title insurance agent is also acting as an escrow agent. Sets forth provisions concerning requirements for the application of a title insurance agent license. Prohibits any individual, firm, association, partnership, or corporation from operating as a prelicensing or continuing education provider or administering examinations unless the provider holds a certification issued by the Department. Provides that the Secretary may set terms and conditions that a person shall be required to comply with during the term of probation for the person's authorization to operate. Effective immediately.
Actions
Date Chamber Action
2/06/2026 Senate Filed with Secretary by Sen. Mark L. Walker
2/06/2026 Senate First Reading
2/06/2026 Senate Referred to Assignments
2/24/2026 Senate Assigned to Judiciary
3/04/2026 Senate Postponed - Judiciary
3/13/2026 Senate Rule 2-10 Committee Deadline Established As March 27, 2026