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Glossary of Legislative Terms

CS/CS/SB 570: Title Insurance

GENERAL BILL by Judiciary ; Banking and Insurance ; Galvano

Title Insurance; Specifying that a title insurer is liable for all of its unpaid losses and claims; specifying which state law governs the amount of the reserve when a title insurer transfers its domicile to this state; specifying that only a licensed and appointed agent or agency is authorized to sell title insurance; revising the application requirements for a title insurance agency license; limiting the remedies available for the breach of duty arising from a title insurance contract, etc.

Effective Date: Except as otherwise expressly provided in this act, this act shall take effect July 1, 2014
 Last Action: 4/3/2014 Senate - Laid on Table, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 805 (Ch. 2014-132) -SJ 433
Bill Text: Web Page | PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Judiciary (JU)
  3. Commerce and Tourism (CM)

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  • Bill History

    Date Chamber Action
    1/2/2014 Senate • Filed
    1/10/2014 Senate • Referred to Banking and Insurance; Judiciary -SJ 47
    1/27/2014 Senate • On Committee agenda-- Banking and Insurance, 02/04/14, 2:00 pm, 110 Senate Office Building
    2/4/2014 Senate • CS by Banking and Insurance; YEAS 12 NAYS 0 -SJ 139
    2/5/2014 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    2/11/2014 Senate • Now in Judiciary -SJ 139
    3/4/2014 Senate • Introduced -SJ 47
    • CS by Banking and Insurance read 1st time -SJ 127
    3/6/2014 Senate • On Committee agenda-- Judiciary, 03/11/14, 1:30 pm, 110 Senate Office Building
    3/11/2014 Senate • CS/CS by- Judiciary; YEAS 8 NAYS 0 -SJ 243
    3/12/2014 Senate • Pending reference review -under Rule 4.7(2) - (Committee Substitute)
    3/17/2014 Senate • Remaining references corrected to Commerce and Tourism -SJ 255
    • Now in Commerce and Tourism
    • CS/CS by Judiciary read 1st time -SJ 248
    3/19/2014 Senate • On Committee agenda-- Commerce and Tourism, 03/24/14, 4:00 pm, 110 Senate Office Building
    3/24/2014 Senate • Favorable by- Commerce and Tourism; YEAS 11 NAYS 0 -SJ 317
    3/25/2014 Senate • Placed on Calendar, on 2nd reading -SJ 317
    3/27/2014 Senate • Placed on Special Order Calendar, 04/03/14
    4/3/2014 Senate • Read 2nd time -SJ 433
    • Amendment(s) adopted (892242) -SJ 433
    • Substituted CS/CS/HB 321 -SJ 433
    • Laid on Table, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 805 (Ch. 2014-132) -SJ 433

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  • CS/CS/SB 570, Committee Substitute 2 (Current Bill Version) Posted 3/12/2014 at 2:49 PM

    Bill Text:   Web Page | PDF
    Analyses:   Commerce and Tourism (Pre-Meeting) 3/21/2014 (pdf)
    Commerce and Tourism (Post-Meeting) 3/27/2014 (pdf)

    Related Bills (7)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 321 (er) Title Insurance Passidomo Similar Last Action: 6/13/2014 Chapter No. 2014-112, companion bill(s) passed, see CS/CS/HB 805 (Ch. 2014-132)
    Location: Became Law     		Track This Bill
    H 471 Insurance Boyd Compare Last Action: 1/8/2014 H Withdrawn prior to introduction, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -HJ 40
    Location: Withdrawn from consideration     		Track This Bill
    H 565 (e1) Insurance Santiago Compare Last Action: 5/2/2014 S Died in returning Messages, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104)
    Location: In returning messages from House     		Track This Bill
    H 805 (er) Title Insurer Reserves Moraitis Compare Last Action: 6/13/2014 Chapter No. 2014-132, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112), HB 5601 (Ch. 2014-38)
    Location: Became Law     		Track This Bill
    S 462 Title Insurance Rates Bradley Compare Last Action: 5/2/2014 S Died in Banking and Insurance, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112)
    Location: In committee/council (BI)     		Track This Bill
    S 758 (c1) Title Insurer Reserves Lee Compare Last Action: 5/1/2014 S Laid on Table, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 805 (Ch. 2014-132) -SJ 938
    Location: Laid on Table     		Track This Bill
    S 1260 (c2) Insurance Brandes Compare Last Action: 5/1/2014 S Laid on Table, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/HB 7005 (Ch. 2014-216), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -SJ 913
    Location: Laid on Table     		Track This Bill

    Floor Amendments (1)

    Amendment Sponsor Filed Last Floor Action Format
    892242 - Amendment
    Delete line 259 and insert:     		Galvano 4/2/2014
    5:30 PM     		Senate: Adopted
    4/3/2014     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    3/24/2014 4:00 PM Commerce and Tourism 11 Yeas - 0 Nays

    Citations - Statutes (13)

    Citation Catchline Location in Bill Location In Bill Help
    624.407 Surplus required; new insurers. Page 11 (pdf)
    624.408 Surplus required; current insurers. Page 11 (pdf)
    625.041 Liabilities, in general. Page 2 (pdf)
    625.111 Title insurance reserve. Page 3 (pdf)
    626.8412 License and appointments required. Page 11 (pdf)
    626.8413 Title insurance agents; certain names prohibited. Page 12 (pdf)
    626.8417 Title insurance agent licensure; exemptions. Page 12 (pdf)
    626.8418 Application for title insurance agency license. Page 14 (pdf)
    626.8419 Appointment of title insurance agency. Page 16 (pdf)
    626.8437 Grounds for denial, suspension, revocation, or refusal to renew license or appointment. Page 17 (pdf)
    627.778 Limit of risk. Page 18 (pdf)
    627.782 Adoption of rates. Page 18 (pdf)
    627.7845 Determination of insurability required; preservation of evidence of title search and examination. Page 18 (pdf)

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  • CS/SB 570, Committee Substitute 1 Posted 2/5/2014 at 2:16 PM

    Bill Text:   Web Page | PDF
    Analyses:   Judiciary (Pre-Meeting) 3/10/2014 (pdf)
    Judiciary (Post-Meeting) 3/12/2014 (pdf)

    Related Bills (5)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 321 (c2) Title Insurance Passidomo Similar Last Action: 6/13/2014 Chapter No. 2014-112, companion bill(s) passed, see CS/CS/HB 805 (Ch. 2014-132)
    Location: Became Law     		Track This Bill
    H 471 Insurance Boyd Compare Last Action: 1/8/2014 H Withdrawn prior to introduction, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -HJ 40
    Location: Withdrawn from consideration     		Track This Bill
    H 565 (c1) Insurance Santiago Compare Last Action: 5/2/2014 S Died in returning Messages, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104)
    Location: In returning messages from House     		Track This Bill
    S 462 Title Insurance Rates Bradley Compare Last Action: 5/2/2014 S Died in Banking and Insurance, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112)
    Location: In committee/council (BI)     		Track This Bill
    S 1260 Insurance Brandes Compare Last Action: 5/1/2014 S Laid on Table, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/HB 7005 (Ch. 2014-216), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -SJ 913
    Location: Laid on Table     		Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    624016 - Amendment
    Before line 29 insert:     		Judiciary
    (Lee)     		3/10/2014
    1:38 PM     		Replaced by Committee Substitute
    3/12/2014     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    3/11/2014 1:30 PM Judiciary 8 Yeas - 0 Nays

    Citations - Statutes (9)

    Citation Catchline Location in Bill Location In Bill Help
    626.8412 License and appointments required. Page 1 (pdf)
    626.8413 Title insurance agents; certain names prohibited. Page 2 (pdf)
    626.8417 Title insurance agent licensure; exemptions. Page 2 (pdf)
    626.8418 Application for title insurance agency license. Page 4 (pdf)
    626.8419 Appointment of title insurance agency. Page 6 (pdf)
    626.8437 Grounds for denial, suspension, revocation, or refusal to renew license or appointment. Page 7 (pdf)
    627.778 Limit of risk. Page 8 (pdf)
    627.782 Adoption of rates. Page 8 (pdf)
    627.7845 Determination of insurability required; preservation of evidence of title search and examination. Page 9 (pdf)

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  • SB 570, Original Filed Version Posted 1/2/2014 at 8:25 AM

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Pre-Meeting) 1/31/2014 (pdf)
    Banking and Insurance (Post-Meeting) 2/5/2014 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 321 (c1) Title Insurance Passidomo Similar Last Action: 6/13/2014 Chapter No. 2014-112, companion bill(s) passed, see CS/CS/HB 805 (Ch. 2014-132)
    Location: Became Law     		Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    464906 - Amendment
    Delete line 215 and insert:     		Banking and Insurance
    (Richter)     		2/3/2014
    11:10 AM     		Replaced by Committee Substitute
    2/4/2014     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    2/4/2014 2:00 PM Banking and Insurance 12 Yeas - 0 Nays

    Citations - Statutes (8)

    Citation Catchline Location in Bill Location In Bill Help
    626.8412 License and appointments required. Page 1 (pdf)
    626.8413 Title insurance agents; certain names prohibited. Page 2 (pdf)
    626.8417 Title insurance agent licensure; exemptions. Page 2 (pdf)
    626.8418 Application for title insurance agency license. Page 4 (pdf)
    626.8419 Appointment of title insurance agency. Page 6 (pdf)
    626.8437 Grounds for denial, suspension, revocation, or refusal to renew license or appointment. Page 7 (pdf)
    627.778 Limit of risk. Page 8 (pdf)
    627.7845 Determination of insurability required; preservation of evidence of title search and examination. Page 8 (pdf)

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