TITLE INS AGENT-ESCROW AGENT
Synopsis of Bill as introduced:
Amends the Title Insurance Act. Provides that title insurance
companies and agents may act as escrow agents even if not issuing
title insurance or qualified as an independent escrowee. Effective
SENATE AMENDMENT NO. 1.
Deletes reference to:
215 ILCS 155/17
Adds reference to:
215 ILCS 155/16.1 new
Replaces the title and everything after the enacting clause.
Authorizes title insurance companies and agents to act as escrow
agents. Limits the authority to situations in which the company or
agent is providing limited purpose title search services to the
parties to the transaction. Effective immediately.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1
END OF INQUIRY
Full Text Bill Status