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House Bill 2491 |
House Author: Pickett |
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Effective: 9-1-15 |
Senate Sponsor: Eltife |
Previous law required a title insurance agent or direct operation employing an escrow officer to apply for the escrow officer's license with the Texas Department of Insurance (TDI). House Bill 2491 amends the Texas Title Insurance Act under the Insurance Code to remove that requirement and instead require an individual wishing to act as an escrow officer to apply for an escrow officer's license directly with TDI. In addition, the bill requires any title insurance agent or direct operation employing the escrow officer to file an appointment of the escrow officer with TDI.
Among other provisions, House Bill 2491 establishes a procedure for renewing an unexpired escrow officer license, requires continuing education programs for escrow officers to be certified, and authorizes an escrow officer to be appointed by more than one title insurance agent or direct operation. The bill also requires TDI to make certain information relating to escrow officer license holders available to the public and to provide information about an enforcement action against an escrow officer to each title insurance agent or direct operation for which the escrow officer holds appointment.