Illinois House Bill 3064 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 18 2021 - 25% progression, died in committee
Action: 2021-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Title Insurance Act. Provides that it is unlawful for any person, firm, partnership, association, corporation, or other legal entity to act as or hold itself out to be a title insurance agent unless first procuring from the Secretary of Financial and Professional Regulation a certificate of authority. Provides that the Secretary of Financial and Professional Regulation or the Secretary's authorized representative shall have power and authority to compel an independent escrowee's compliance with specified provisions of the Title Insurance Act. Establishes fees for title insurance agents. Provides that every applicant for a certificate of authority that is a firm, partnership, association, corporation, or other legal entity shall designate and name at least one individual who (1) has a financial or other beneficial interest in the licensee and (2) is authorized by at least one title insurance company to determine insurability of title. Establishes requirements for the issuance of certificates of authority to title insurance agents. Changes provisions concerning criminal penalties and injunctive relief for violations and referrals. Makes other changes. Effective immediately, except that the provisions concerning the filing of title insurance rates take effect September 1, 2022.

TITLE INSURANCE ACT-VARIOUS

Rep. Camille Lilly [D]

Date	Chamber	Action
2021-03-27	House	Rule 19(a) / Re-referred to Rules Committee
2021-03-16	House	Assigned to Financial Institutions Committee
2021-02-19	House	Referred to Rules Committee
2021-02-19	House	First Reading
2021-02-18	House	Filed with the Clerk by Rep. Camille Y. Lilly

Chapter	Article	Section	Citation Type	Statute Text
215	155	12	Amended Code	Citation Text
215	155	14	Amended Code	Citation Text
215	155	14.1	Amended Code	Citation Text
215	155	16	Amended Code	Citation Text
215	155	18	Amended Code	Citation Text
215	155	18.2	New Code	See Bill Text
215	155	19	Repealed Code	Citation Text
215	155	21	Amended Code	Citation Text
215	155	23	Amended Code	Citation Text
215	155	24	Repealed Code	Citation Text
215	155	25	Repealed Code	Citation Text
215	155	3	Amended Code	Citation Text
215	155	5	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3064&GAID=16&DocTypeID=HB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/HB/10200HB3064.htm