91st General Assembly
Summary of HB1915
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
House Sponsors:

Senate Sponsors:

Short description: 
TITLE INSURANCE RATES                                                      

Synopsis of Bill as introduced:
        Amends the Title Insurance Act.  Provides that  the  Director  of      
   Financial Institutions shall prescribe policy forms, endorsements, and      
   underwriting  contracts. Requires the Director to establish the             
   minimum rate for title insurance and escrow and  settlement  services.      
   Authorizes  the Director to collect a fee not exceeding 0.10% of gross      
   title insurance premium on policies written in Illinois by  all  title      
   insurers.  Effective immediately.                                           
        HOUSE AMENDMENT NO. 1.                                                 
        Authorizes the Director of Financial Institutions  to  collect  a      
   fee  of  0.25%,  rather than 0.10%, of gross title insurance premiums.      
   Subjects title insurance agents to various fees.                            
          FISCAL NOTE, H-AM 1 (Department of Financial Institutions)           
          Initial cost would be $177,038 which fee revenues would cover.       
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   0


 Full Text  Bill Status