senate Bill S4920

2011-2012 Legislative Session

Requires disclosure of title service charges by a title insurance provider to the customer upon receipt of an application for a title insurance policy

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 21, 2012 committed to rules
Jun 06, 2012 advanced to third reading
Jun 05, 2012 2nd report cal.
Jun 04, 2012 1st report cal.995
Jan 04, 2012 referred to insurance
Apr 29, 2011 referred to insurance

Votes

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Jun 4, 2012 - Insurance committee Vote

S4920
17
0
committee
17
Aye
0
Nay
0
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Insurance committee vote details

Insurance Committee Vote: Jun 4, 2012

excused (1)

S4920 - Details

See Assembly Version of this Bill:
A8361
Current Committee:
Law Section:
Insurance Law
Laws Affected:
Add ยง6412, Ins L
Versions Introduced in 2009-2010 Legislative Session:
A8404

S4920 - Summary

Requires disclosure of title service charges by a title insurance provider to the customer upon receipt of an application for a title insurance policy.

S4920 - Sponsor Memo

S4920 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4920

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             April 29, 2011
                               ___________

Introduced  by  Sen.  DeFRANCISCO -- read twice and ordered printed, and
  when printed to be committed to the Committee on Insurance

AN ACT to amend the insurance  law,  in  relation  to  disclosing  title
  service  charges  by  a  title insurance provider to the customer upon
  receipt of an application for a title

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The insurance law is amended by adding a new section 6412
to read as follows:
  S 6412. DISCLOSURE OF TITLE  SERVICE  CHARGES  BY  A  TITLE  INSURANCE
PROVIDER.  (A)  DEFINITIONS. (1) "TITLE INSURANCE PROVIDER" SHALL MEAN A
TITLE INSURANCE CORPORATION, AS DEFINED IN  SUBSECTION  (A)  OF  SECTION
SIXTY-FOUR HUNDRED ONE OF THIS ARTICLE, AND ANY AGENT, APPROVED ATTORNEY
OR  EXAMINING  COUNSEL  WHICH  IS  ISSUING  A TITLE INSURANCE POLICY, AS
DEFINED IN SUBSECTION (B) OF SECTION  SIXTY-FOUR  HUNDRED  ONE  OF  THIS
ARTICLE, ON BEHALF OF A TITLE INSURANCE CORPORATION.
  (2)  "TITLE  SERVICES"  OR  "TITLE  SERVICE"  SHALL MEAN EVERY SERVICE
ORDERED OR TO BE ORDERED BY A CUSTOMER FROM A TITLE INSURANCE  PROVIDER,
WHETHER  SUCH  SERVICE  IS  RENDERED  BY  A  TITLE INSURANCE PROVIDER OR
OBTAINED BY A TITLE INSURANCE PROVIDER THROUGH A THIRD PARTY, THE CHARGE
FOR WHICH IS IMPOSED ON A CUSTOMER AND IS NOT REGULATED BY  THE  DEPART-
MENT,  INCLUDING,  WITHOUT  LIMITATION,  THE  OBTAINING  OF GOVERNMENTAL
RECORDS, THE ORDERING OF A  SURVEY  OR  A  SURVEY  INSPECTION,  AND  THE
RECORDING  OR FILING OF INSTRUMENTS IN THE OFFICE OF A RECORDING OFFICER
AS DEFINED IN SECTION TWO HUNDRED NINETY OF THE REAL PROPERTY LAW OR  IN
ANY OTHER STATE, COUNTY OR MUNICIPAL OFFICE.
  (3) "SERVICE CHARGES" OR "SERVICE CHARGE" SHALL MEAN AN AMOUNT CHARGED
TO  A  CUSTOMER  BY A TITLE INSURANCE PROVIDER FOR PROVIDING ONE OR MORE
TITLE SERVICES; PROVIDED, HOWEVER, THAT "SERVICE  CHARGES"  OR  "SERVICE
CHARGE"  SHALL  NOT  INCLUDE  A CHARGE FOR THE SEARCH AND EXAMINATION OF
TITLE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11192-01-1

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