KY HB448 | 2013 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Engrossed on March 4 2013 - 50% progression, died in committee
Action: 2013-03-05 - to Banking & Insurance (S)
Pending: Senate Banking and Insurance Committee
Text: Latest bill text (Draft #2) [MS Word]
Status: Engrossed on March 4 2013 - 50% progression, died in committee
Action: 2013-03-05 - to Banking & Insurance (S)
Pending: Senate Banking and Insurance Committee
Text: Latest bill text (Draft #2) [MS Word]
Summary
Create new sections of Subtitle 22 of KRS Chapter 304 to adopt the National Association of Insurance Commissioners (NAIC) model legislation to establish a licensing procedure and the requirements for the business of title insurance, including licensure of title insurance agents, to be regulated by the Department of Insurance, except attorneys licensed and actively engaged in the private practice of law in this state including but not limited to the business of a title insurance agent; create a new section of Subtitle 220 of KRS Chapter 304 to authorize closing or settlement protection to indemnify a person or entity insured under a policy of title insurance against loss because of theft or misappropriation of settlement funds in connection with issuance of the title insurance policy or for failure of a settlement agent, title agent, or employee of the title insurer to comply with the written closing instructions to the extent that failure to follow the instructions relates to the title to that interest in land or the validity, enforceability and priority of the lien of the mortgage on that interest in land; amend KRS 304.22-030 to conform; EFFECTIVE JANUARY 1, 2014.
Title
AN ACT relating to title insurance.
Sponsors
| Rep. Jeff Greer [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2013-03-05 | Senate | to Banking & Insurance (S) |
| 2013-03-04 | Senate | received in Senate |
| 2013-03-01 | House | 3rd reading, passed 90-0 with Committee Substitute, floor amendments (1) and (2) |
| 2013-03-01 | House | taken from the Consent Orders of the Day, placed in the Regular Orders of the Day |
| 2013-02-28 | House | posted for passage in the Consent Orders of the Day for Friday, March 1, 2013 |
| 2013-02-28 | House | 2nd reading, to Rules |
| 2013-02-27 | House | floor amendments (1) and (2) filed to Committee Substitute |
| 2013-02-27 | House | reported favorably, 1st reading, to Consent Calendar with Committee Substitute |
| 2013-02-25 | House | posted in committee |
| 2013-02-20 | House | to Banking & Insurance (H) |
| 2013-02-19 | House | introduced in House |
