Enrolled Bill Summary

Senate Bill 1707 amends the Insurance Code to allow the commissioner of insurance to adopt rules allowing a title insurance company to accept an existing real property survey when providing area and boundary coverage if the company is willing to accept evidence of the existing survey, and an affidavit verifying the existing survey, regardless of when or for whom the survey was prepared. The bill prohibits a title insurance company from discriminating in providing area and boundary coverage in connection with residential real property solely because the property is platted or unplatted or a municipality did not accept a subdivision plat in relation to the property before September 1, 1975. The bill also prohibits a title insurance company from requiring an indemnity from a seller, borrower, or lender to provide area and boundary coverage.