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 |
Senate Bill S4920
2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Rules Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2011-S4920 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8361
- Current Committee:
- Senate Rules
- Law Section:
- Insurance Law
- Laws Affected:
- Add ยง6412, Ins L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
A8404
2013-2014: S5093
2011-S4920 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4920 TITLE OF BILL: 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 PURPOSE: This legislation requires that a title insurance provider, upon receipt of an application for a title insurance policy for real property improved by a one-to-four family residence, provide to the applicant a list of service charges for title services to be rendered. This bill also requires that an invoice issued to a customer by a title insurance provider clearly differentiate, on separate lines, between the amount that the title insurance provider is collecting to remit to a third party for services it has rendered and the amount that the title insurance provider is collecting for services that the provider rendered directly. SUMMARY OF PROVISIONS: Section one amends the insurance law by adding a new section 6412. Section 6412(a) provides definitions of "title insurance provider," "title service" and "title services," "service charge" and "service charges," "applicant" and "customer." "Title insurance provider" is defined as a title insurance corporation, as defined in subsection
2011-S4920 (ACTIVE) - 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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