Florida Senate - 2011 SB 1468
By Senator Altman
24-00694-11 20111468__
1 A bill to be entitled
2 An act relating to title insurance; amending s.
3 20.121, F.S.; assigning the Division of Title
4 Insurance to the Department of Financial Services;
5 providing legislative findings and intent; deeming
6 that references in the Florida Insurance Code
7 pertaining to title insurance refer to the Division of
8 Title Insurance; amending s. 626.2815, F.S.; requiring
9 any person who holds a license as a title agent to
10 complete a minimum of 10 hours of continuing education
11 courses every 2 years in Florida-specific title
12 insurance and escrow management courses approved by
13 the Division of Title Insurance; authorizing the
14 department to contract with private entities to
15 administer, review, or approve the continuing
16 education program for title insurance; amending s.
17 626.841, F.S.; defining the term “agent in charge”;
18 amending s. 626.8417, F.S.; revising provisions to
19 conform to changes made by the act; amending s.
20 626.8418, F.S.; removing obsolete provisions relating
21 to applying for a title insurance license; amending s.
22 626.8419, F.S.; requiring the title insurance agency
23 to obtain a fidelity bond in an amount not less than
24 $250,000, with a deductible not to exceed 1 percent of
25 the bond amount; creating s. 626.8422, F.S.; requiring
26 each title insurance agency to have a separate agent
27 in charge at every agency location; requiring that an
28 agent in charge be an attorney licensed by and in good
29 standing with The Florida Bar or a Florida-licensed
30 title agent; amending s. 626.8437, F.S.; adding
31 additional grounds for which the department must deny,
32 suspend, revoke, or refuse to renew or continue the
33 license or appointment of any title insurance agent or
34 agency; amending s. 626.8473, F.S.; requiring an
35 attorney to deposit into a separate trust account all
36 funds received in connection with transactions in
37 which the attorney is serving as a title or real
38 estate settlement agent; requiring that the trust
39 account be maintained exclusively for funds received
40 in connection with such transactions; providing an
41 exception for an applicable rule of The Florida Bar;
42 creating s. 627.7715, F.S.; creating the Division of
43 Title Insurance within the Department of Financial
44 Services; requiring that the division exercise all
45 powers and duties with respect to title insurance
46 regulation, including those exercised by the Office of
47 Insurance Regulation and the Division of Insurance
48 Agents and Agency Services; providing for the division
49 director to be appointed by the Chief Financial
50 Officer; providing for bureaus within the division;
51 amending s. 627.777, F.S.; providing for the approval
52 and revocation of title insurance forms; creating s.
53 627.7815, F.S.; providing that trade secrets be
54 preserved; providing for the filing of a trade secret
55 notice with the department; providing a waiver of
56 trade secret protection under certain circumstances;
57 providing procedures to be followed to claim a trade
58 secret; detailing the form and content of the notice
59 for a trade secret; providing a presumption of trade
60 secret protection under certain circumstances;
61 creating s. 627.7985, F.S.; authorizing the Department
62 of Financial Services to adopt rules relating to title
63 insurance; amending s. 627.780, F.S.; revising
64 provisions to conform to changes made by the act;
65 amending s. 627.782, F.S.; requiring each title
66 insurance agency licensed to do business in this state
67 and each insurer doing direct, retail, or affiliated
68 business to maintain and submit certain information to
69 the department as the department determines to be
70 necessary to assist in the analysis of title insurance
71 premium rates, title search costs, and the condition
72 of the title insurance industry in this state;
73 creating s. 689.263, F.S.; prohibiting a title
74 insurance agent or title insurance agency from
75 disbursing funds pursuant to a completed purchase and
76 sale transaction subject to the Real Estate Settlement
77 Procedures Act without requiring a properly executed
78 statement of settlement cost; providing that by a
79 specified date the rules of the Financial Services
80 Commission and the Office of Insurance Regulation with
81 respect to the regulation of title insurance become
82 the rules of the Department of Financial Services;
83 providing that the statutory powers, duties, and
84 functions for the administration of chs. 624, 626, and
85 627, F.S., relating to title insurance, are
86 transferred by a type two transfer, from the Financial
87 Services Commission and the Office of Insurance
88 Regulation to the Department of Financial Services;
89 providing that the transfer of regulatory authority
90 accomplished by this act shall not affect the validity
91 of any pending judicial or administrative action
92 relating to title insurance, to which action the
93 Financial Services Commission or the Office of
94 Insurance Regulation are parties; providing that all
95 lawful orders issued by the Financial Services
96 Commission or the Office of Insurance Regulation
97 implementing or enforcing or otherwise relating to
98 title insurance issued before the effective date of
99 the act, remain in effect and are enforceable after
100 the effective date of the act, unless thereafter
101 modified in accordance with law; directing the
102 Division of Statutory Revision to provide the relevant
103 substantive committees of the Senate and the House of
104 Representatives with assistance to enable the
105 committees to prepare draft legislation to conform the
106 Florida Statutes to the provisions of the act;
107 directing the Division of Title Insurance to work with
108 affected parties and to make recommendations to the
109 Legislature relating to consolidation of all of title
110 insurance governance into a single chapter of Florida
111 Statutes, the possible implementation of other
112 recommendations of the Title Insurance Study Advisory
113 Council, and other suggestions for improvement of the
114 statutory regulation of the title insurance industry;
115 providing an effective date.
116
117 Be It Enacted by the Legislature of the State of Florida:
118
119 Section 1. Paragraph (p) is added to subsection (2) of
120 section 20.121, Florida Statutes, to read:
121 20.121 Department of Financial Services.—There is created a
122 Department of Financial Services.
123 (2) DIVISIONS.—The Department of Financial Services shall
124 consist of the following divisions:
125 (p) The Division of Title Insurance.
126 Section 2. Legislative findings; purpose; intent.—
127 (1) The Legislature finds that a stable real estate
128 marketplace is central to the economic foundations of this state
129 and that the certainties of real property ownership, transfer,
130 and encumbrance must be preserved for the public welfare. These
131 fundamental facts support the regulation of the title insurance
132 industry.
133 (2) The Legislature finds that a stable and efficient title
134 insurance industry is necessary for the confidence required by
135 all purchasers of real property, their lenders, and their
136 investors in that it improves property valuations, lowers
137 borrowing costs, and generally supports the flow of real estate
138 based capital investment.
139 (3) The Legislature further finds that it is sound public
140 policy to encourage and support the delivery of title insurance
141 products and services statewide. The Legislature recognizes that
142 this can best be achieved by assuring a solvent industry that is
143 responsive as well as responsible to all consumers and for the
144 protection of the public land records. Central to this finding
145 is the fact that the general public welfare is better served by
146 delivering fiscally sound legal remedies founded in contract law
147 rather than the mere possibility of relief in tort remedies.
148 (4) The Legislature, in recognition of the fact that a
149 title issuer may deliver primary title services directly to or
150 through a licensed and appointed agent or agency, finds that a
151 viable title insurance delivery system requires comprehensive
152 state oversight and uniform regulation of title insurers,
153 agents, and agencies. Accordingly, it is the intent of the
154 Legislature to establish unitary regulation of the title
155 insurance industry by transferring the agency from the Financial
156 Services Commission and the Office of Insurance Regulation to
157 the Department of Financial Services. The department has
158 comprehensive authority to regulate title insurers, title
159 agents, title agency solvency, education, licensing, and
160 discipline and to establish title insurance premium rates and
161 forms.
162 (5) The Legislature recognizes that the title insurance
163 industry is founded upon a unique compensatory structure
164 comprised of unregulated fees for the necessarily related escrow
165 and closing services and the regulated premium promulgated for
166 the performance of the primary title services. The delivery of
167 these separate but related functions is predominated by title
168 agents and agencies, thereby placing the title insurance agent
169 at the cornerstone of the delivery system. Maintaining a
170 sufficient base of title insurance agents promotes price
171 competition in the marketplace for escrow and settlement
172 services and the ready availability of these products and
173 services to all residents.
174 Section 3. References to commission, department, and
175 office.—Whenever the Florida Insurance Code refers to title
176 insurance or the regulation of title insurers, title agents, or
177 title agencies, such reference is deemed to refer to the
178 Division of Title Insurance of the Department of Financial
179 Services.
180 Section 4. Paragraph (d) of subsection (3) of section
181 626.2815, Florida Statutes, is amended, paragraph (l) is added
182 to that subsection, and subsection (8) is added to that section,
183 to read:
184 626.2815 Continuing education required; application;
185 exceptions; requirements; penalties.—
186 (3)
187 (d) Any person who holds a license as a customer
188 representative, limited customer representative, title agent,
189 motor vehicle physical damage and mechanical breakdown insurance
190 agent, crop or hail and multiple-peril crop insurance agent, or
191 as an industrial fire insurance or burglary insurance agent and
192 who is not a licensed life or health insurance agent, shall be
193 required to complete 10 hours of continuing education courses
194 every 2 years.
195 (l) Any person who holds a license as a title agent must
196 complete a minimum of 10 hours of continuing education courses
197 every 2 years in Florida-specific title insurance and escrow
198 management courses approved by the Division of Title Insurance.
199 The continuing education courses shall include at least 3 hours
200 of continuing education on the subject matter of ethics, rules,
201 or state and federal regulatory compliance matters relating to
202 title insurance and closing services.
203 (8) The department may contract with a private entity for
204 services relating to the administration, review, or approval of
205 the continuing education program for title insurance. The
206 contract shall be procured as a contract for a contractual
207 service pursuant to s. 287.057.
208 Section 5. Subsection (3) is added to section 626.841,
209 Florida Statutes, to read:
210 626.841 Definitions.—The term:
211 (3) “Agent in charge” of a title insurance agency means an
212 attorney or a licensed and appointed title insurance agent who
213 is designated as agent in charge pursuant to s. 626.8422.
214 Section 6. Paragraph (c) of subsection (4) of section
215 626.8417, Florida Statutes, is amended to read:
216 626.8417 Title insurance agent licensure; exemptions.—
217 (4)
218 (c) If one or more an attorney or attorneys own a
219 corporation or other legal entity that which is doing business
220 as a title insurance agency other than an entity engaged in the
221 active practice of law, the agency must be licensed and
222 appointed as a title insurance agency with an agent in charge
223 designated for the agency agent.
224 Section 7. Section 626.8418, Florida Statutes, is amended
225 to read:
226 626.8418 Application for title insurance agency license.
227 Before Prior to doing business in this state as a title
228 insurance agency, a title insurance agency must meet all of the
229 criteria set forth in this section. following requirements:
230 (1) The applicant must file with the department an
231 application for a license as a title insurance agency, on
232 printed forms furnished by the department, that includes all of
233 the following:
234 (1)(a) The name of each majority owner, partner, officer,
235 and director of the agency.
236 (2)(b) The residence address of each person required to be
237 listed under subsection (1) paragraph (a).
238 (3)(c) The name of the agency and its principal business
239 address.
240 (4)(d) The location of each agency office and the name
241 under which each agency office conducts or will conduct
242 business.
243 (5)(e) The name of each agent to be in full-time charge of
244 an agency office and specification of which office.
245 (6)(f) Such additional information as the department
246 requires by rule to ascertain the trustworthiness and competence
247 of persons required to be listed on the application and to
248 ascertain that such persons meet the requirements of this code.
249 (2) The applicant must have deposited with the department
250 securities of the type eligible for deposit under s. 625.52 and
251 having at all times a market value of not less than $35,000. In
252 place of such deposit, the title insurance agency may post a
253 surety bond of like amount payable to the department for the
254 benefit of any appointing insurer damaged by a violation by the
255 title insurance agency of its contract with the appointing
256 insurer. If a properly documented claim is timely filed with the
257 department by a damaged title insurer, the department may remit
258 an appropriate amount of the deposit or the proceeds that are
259 received from the surety in payment of the claim. The required
260 deposit or bond must be made by the title insurance agency, and
261 a title insurer may not provide the deposit or bond directly or
262 indirectly on behalf of the title insurance agency. The deposit
263 or bond must secure the performance by the title insurance
264 agency of its duties and responsibilities under the issuing
265 agency contracts with each title insurer for which it is
266 appointed. The agency may exchange or substitute other
267 securities of like quality and value for securities on deposit,
268 may receive the interest and other income accruing on such
269 securities, and may inspect the deposit at all reasonable times.
270 Such deposit or bond must remain unimpaired as long as the title
271 insurance agency continues in business in this state and until 1
272 year after termination of all title insurance agency
273 appointments held by the title insurance agency. The title
274 insurance agency is entitled to the return of the deposit or
275 bond together with accrued interest after such year has passed,
276 if no claim has been made against the deposit or bond. If a
277 surety bond is unavailable generally, the department may adopt
278 rules for alternative methods to comply with this subsection.
279 With respect to such alternative methods for compliance, the
280 department must be guided by the past business performance and
281 good reputation and character of the proposed title insurance
282 agency. A surety bond is deemed to be unavailable generally if
283 the prevailing annual premium exceeds 25 percent of the
284 principal amount of the bond.
285 Section 8. Paragraph (a) of subsection (1) of section
286 626.8419, Florida Statutes, is amended to read:
287 626.8419 Appointment of title insurance agency.—
288 (1) The title insurer engaging or employing the title
289 insurance agency must file with the department, on printed forms
290 furnished by the department, an application certifying that the
291 proposed title insurance agency meets all of the following
292 requirements:
293 (a) The agency must have obtained a fidelity bond in an
294 amount, not less than $250,000 $50,000, with a deductible not to
295 exceed 1 percent of the bond amount, acceptable to the insurer
296 appointing the agency. If a fidelity bond is unavailable
297 generally, the department must adopt rules for alternative
298 methods to comply with this paragraph.
299 Section 9. Section 626.8422, Florida Statutes, is created
300 to read:
301 626.8422 Agent in charge.-
302 (1) Each location of a title insurance agency or branch
303 office of a title insurance agency that is within the state and
304 that is regularly open to the public for closing services as
305 defined in s. 627.7711, and at which disbursement of escrow
306 funds or policy issuance services are performed must have a
307 separate agent in charge. A title insurance agency that fails to
308 designate an agent in charge on a form prescribed by the
309 department, within 10 working days after the agency opens for
310 business or changes the agent in charge, violates this chapter,
311 and is punishable as provided in s. 626.844.
312 (2) A title insurance agency shall designate an attorney
313 duly authorized to practice law in this state and in good
314 standing with The Florida Bar or a Florida-licensed title agent
315 as agent in charge for each location described in subsection
316 (1).
317 (3) The agent in charge shall perform his or her duties as
318 set forth in subsection (1) at the location for which he or she
319 is named as agent in charge.
320 (4) If a title insurance agency operates multiple
321 locations, the agency shall designate a separate agent in charge
322 for each location.
323 Section 10. Subsections (11) and (12) are added to section
324 626.8437, Florida Statutes, to read:
325 626.8437 Grounds for denial, suspension, revocation, or
326 refusal to renew license or appointment.—The department shall
327 deny, suspend, revoke, or refuse to renew or continue the
328 license or appointment of any title insurance agent or agency,
329 and it shall suspend or revoke the eligibility to hold a license
330 or appointment of such person, if it finds that as to the
331 applicant, licensee, appointee, or any principal thereof, any
332 one or more of the following grounds exist:
333 (11) Failure to timely submit information as required by
334 the department.
335 (12) A licensee has been charged with an insurance-related
336 or financial-related felony, a crime involving moral turpitude,
337 or a crime punishable by imprisonment of 1 year or more under
338 the law of any state, territory, or country.
339 Section 11. Present subsection (7) of section 626.8473,
340 Florida Statutes, is renumbered as subsection (8), and a new
341 subsection (7) is added to that section, to read:
342 626.8473 Escrow; trust fund.—
343 (7) An attorney shall deposit into a separate trust account
344 all funds received in connection with transactions in which the
345 attorney is serving as a title or real estate settlement agent.
346 The trust account must be maintained exclusively for funds
347 received in connection with such transactions. The attorney
348 shall permit the account to be audited by its title insurers.
349 Funds need not be maintained in a separate account for a
350 particular client if maintaining a separate account would
351 violate applicable rules of The Florida Bar.
352 Section 12. 627.7715, Florida Statutes is created to read:
353 627.7715 Division of Title Insurance.—
354 (1) The Division of Title Insurance is created within the
355 Department of Financial Services. The division shall exercise
356 all powers and duties with respect to title insurance
357 regulation, including those exercised by the Office of Insurance
358 Regulation and the Division of Insurance Agents and Agency
359 Services of the Department of Financial Services before October
360 15, 2011. The division director shall be appointed by the Chief
361 Financial Officer and shall have experience, education, and
362 expertise in the field of title insurance in this state. The
363 director may also be known as the Florida Title Insurance
364 Commissioner.
365 (2) The Division of Title Insurance shall consist of:
366 (a) The Bureau of Title Insurance Premium Rates and Forms.
367 (b) The Bureau of Title Insurance Licensing and Education.
368 Section 13. Section 627.777, Florida Statutes, is amended
369 to read:
370 627.777 Approval of forms.—
371 (1) A title insurer may not issue or agree to issue any
372 form of title insurance commitment, title insurance policy,
373 other contract of title insurance, or related form until it is
374 filed with and approved by the office. The office may not
375 disapprove a title guarantee or policy form on the ground that
376 it has on it a blank form for an attorney’s opinion on the
377 title.
378 (2) If a form filed for approval is a form certified and
379 adopted by the American Land Title Association at the time of
380 the filing, the department shall approve or disapprove the form
381 within 180 days. If a form filed for approval is a form not
382 certified by the American Land Title Association at the time of
383 the filing, the department shall approve or disapprove the form
384 within 1 year.
385 (3) At the time of the approval of any form, the department
386 shall determine if a rate in effect at that time applies or if
387 the coverages require adoption of a rule pursuant to s. 627.782.
388 (4) The department may revoke approval of any form upon 180
389 days’ notice. A basis for revocation is the decertification by
390 the American Land Title Association of a previously approved
391 form.
392 (5) An insurer may not achieve any competitive advantage
393 over any other insurer, agency, or agent as to rates or forms.
394 If a form or rate is approved for an insurer, the department
395 shall expedite approval for a form containing the identical
396 coverage, rate, or deviation approved under s. 627.783 for other
397 insurers upon application.
398 Section 14. Section 627.7815, Florida Statutes, is created
399 to read:
400 627.7815 Trade secret documents.—If any person who is
401 required to submit a document or other information to the
402 department pursuant to this chapter or by rule or order of the
403 department claims that such document, rule, or order contains a
404 trade secret, such person may file a notice of trade secret with
405 the department. Failure to do so constitutes a waiver of any
406 claim by the person that the requested document or information
407 is a trade secret.
408 (1) Each page of the document or specific portion of the
409 document claimed to be a trade secret must be clearly marked
410 “trade secret.”
411 (2) All material marked as a trade secret must be separate
412 from all nontrade secret material and be submitted in a separate
413 envelope clearly marked “trade secret.”
414 (3) When submitting a notice of trade secret to the
415 department, the submitting party must include an affidavit
416 certifying under oath to the truth of the following statements
417 concerning all documents or information that are claimed to be
418 trade secrets:
419 (a) [I consider/My company considers] this information a
420 trade secret that has value and provides an advantage or an
421 opportunity to obtain an advantage over those who do not know or
422 use it.
423 (b) [I have/My company has] taken measures to prevent the
424 disclosure of the information to anyone other than those who
425 have been selected to have access for limited purposes, and [I
426 intend/my company intends] to continue to take such measures.
427 (c) The information is not, and has not been, reasonably
428 obtainable without [my/our] consent by other persons by use of
429 legitimate means.
430 (d) The information is not publicly available elsewhere.
431 (4) Any data submitted by a title insurance agent or title
432 insurer pursuant to s. 627.782 are presumed to be a trade secret
433 under this section whether or not so designated.
434 Section 15. Section 627.7985, Florida Statutes, is created
435 to read:
436 627.7985 Rules relating to title insurance.—
437 (1) In addition to rules authorized elsewhere in the
438 Florida Insurance Code, the department may adopt rules relating
439 to title insurance pursuant to ss. 120.536(1) and 120.54 to
440 administer provisions relating to title insurance. The rules
441 may:
442 (a) Define the license and appointment requirements for
443 title insurance agents and agencies.
444 (b) Establish penalty guidelines for enforcing the
445 requirements of the Florida Insurance Code.
446 (c) Describe the fiduciary responsibilities of title
447 insurers, title insurance agents, and agencies, including, but
448 not limited to, duties related to escrow accounts.
449 (d) Identify the responsibilities, duties, and designations
450 of the agent in charge of a title insurance agency.
451 (e) Enable the collection and analysis of information from
452 title insurers, title insurance agents, and agencies relating to
453 title insurance business.
454 (f) Set reasonable requirements for the timely recording of
455 documents and the delivery of final title insurance policies.
456 (g) Set reasonable requirements for the timely disbursement
457 of funds, unless a longer holding period is specified in a
458 written escrow agreement.
459 (h) Establish rules for the protection, calculation, and
460 timely remittance of premiums that are owed to a title insurer.
461 (i) Prohibit the markup of the cost of any third-party
462 goods and services without having added value.
463 (2) In addition to any other penalty provided, willful
464 violation of any rule shall subject the violator to the
465 suspension or revocation of the violator’s certificate of
466 authority or license as may be applicable under the Florida
467 Insurance Code.
468 Section 16. Subsection (1) of section 627.780, Florida
469 Statutes, is amended to read:
470 627.780 Illegal dealings in premium.—
471 (1) A person may not knowingly quote, charge, accept,
472 collect, or receive a premium for title insurance other than the
473 premium adopted by the department commission, except as provided
474 in s. 626.9541(1)(h)3.b.
475 Section 17. Subsection (8) of section 627.782, Florida
476 Statutes, is amended to read:
477 627.782 Adoption of rates.—
478 (8) Each title insurance agency licensed to do business in
479 this state and each insurer doing direct, retail, or affiliated
480 business in this state shall maintain and submit information,
481 including revenue, loss, and expense data, as the department
482 determines to be necessary to assist in the analysis of title
483 insurance premium rates, title search costs, and the condition
484 of the title insurance industry in this state. This information
485 must be transmitted to the department no later than March 31 of
486 each year following the reporting year. The department shall
487 adopt rules to assist in the collection and analysis of the data
488 from the title insurance industry. The commission may, by rule,
489 require licensees under this part to annually submit statistical
490 information, including loss and expense data, as the department
491 determines to be necessary to analyze premium rates, retention
492 rates, and the condition of the title insurance industry.
493 Section 18. Section 689.263, Florida Statutes, is created
494 to read:
495 689.263 Sale of residential property; settlement statement
496 requirements.—A title insurance agent or title insurance agency
497 may not disburse funds pursuant to a completed purchase and sale
498 transaction subject to the Real Estate Settlement Procedures Act
499 of 1974, 12 U.S.C. ss. 2601 et seq., (RESPA) as amended, without
500 requiring a statement of settlement costs meeting the following
501 requirements:
502 (1) The settlement statement must be executed by the buyer,
503 borrower, seller, if any, and settlement agent as defined by
504 RESPA.
505 (2) If a title insurance premium is to be disbursed, the
506 title insurer and the title insurance agent or title insurance
507 agency, if any, must be disclosed.
508 Section 19. (1) Effective October 15, 2011, the rules of
509 the Financial Services Commission and the Office of Insurance
510 Regulation with respect to the regulation of title insurance
511 shall become the rules of the Department of Financial Services
512 and shall remain in effect until specifically amended or
513 repealed in the manner provided by law.
514 (2) All of the statutory powers, duties and functions,
515 records, personnel, property, unexpended balances of
516 appropriations, allocations, or other funds for the
517 administration of chapters 624, 626, and 627, Florida Statutes,
518 related to title insurance, shall be transferred by a type two
519 transfer, as defined in s. 20.06(2), Florida Statutes, from the
520 Financial Services Commission and the Office of Insurance
521 Regulation to the Department of Financial Services.
522 (3) The transfer of regulatory authority under chapters
523 624, 626, and 627, Florida Statutes, provided by this act shall
524 not affect the validity of any judicial or administrative action
525 relating to title insurance pending as of 11:59 p.m. on the day
526 before the effective date of this act, to which action the
527 Financial Services Commission or the Office of Insurance
528 Regulation are at that time parties, and the Department of
529 Financial Services shall be substituted as a party in interest
530 in any such action.
531 (4) All lawful orders issued by the Financial Services
532 Commission or the Office of Insurance Regulation implementing or
533 enforcing or otherwise in regard to any provision of chapter
534 624, chapter 626, or chapter 627, Florida Statutes, relating to
535 title insurance, issued prior to the effective date of this act,
536 shall remain in effect and be enforceable after the effective
537 date of this act, unless thereafter modified in accordance with
538 law.
539 (5) The Legislature recognizes that there is a need to
540 conform the Florida Statutes to the policy decisions reflected
541 in the provisions of this act. The Division of Statutory
542 Revision is directed to provide the relevant substantive
543 committees of the Senate and the House of Representatives with
544 assistance, upon request, to enable the committees to prepare
545 draft legislation to conform the Florida Statutes to the
546 provisions of this act.
547 (6) The Division of Title Insurance is directed to work
548 with affected parties and to make recommendations to the
549 Legislature for the consolidation of all of title insurance
550 governance into a single chapter of Florida Statutes, the
551 possible implementation of other recommendations of the Title
552 Insurance Study Advisory Council, and other suggestions for
553 improvement of the statutory regulation of the title insurance
554 industry.
555 Section 20. This act shall take effect July 1, 2011.