Illinois House Bill 4941

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 7 2024 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Title Insurance Act. Provides for the licensure of title insurance agents (instead of registration of title insurance agents by title insurance companies). Makes changes in the definition of "financial interest". Defines "core title agent services". Sets forth requirements for licensure, including examination and educational requirements. Sets forth exemptions from the examination and educational requirements. 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 a license. Provides that no person, firm, association, partnership, or corporation may operate as a pre-licensing or continuing education provider or administer examinations unless the provider holds a certification issued by the Department of Financial and Professional Regulation. Sets forth provisions concerning the Department's approval of applications for a certificate. Makes other changes. Effective immediately.

TITLE INSURANCE AGENTS

Rep. Terra Costa Howard [D]

Date	Chamber	Action
2024-04-05	House	Rule 19(a) / Re-referred to Rules Committee
2024-02-28	House	Assigned to Insurance Committee
2024-02-07	House	Referred to Rules Committee
2024-02-07	House	First Reading
2024-02-07	House	Filed with the Clerk by Rep. Terra Costa Howard

Chapter	Article	Section	Citation Type	Statute Text
215	155	16	Amended Code	Citation Text
215	155	16.2	New Code	See Bill 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=4941&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB4941.htm