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Title 26 Insurance Code

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Change 1

What to do with it
As published

26-23-322. Rebates and inducements prohibited.

(a) No title insurer or title agent shall: (i) Pay in any manner to any person any commission, any part of its premiums, fees or other charges or any other consideration as inducement or compensation for the referral of title business or for performance of any escrow or other service by the title insurer or title agent; (ii) Issue any title insurance policy or perform any service in connection with any transaction in which it has paid or intends to pay any commission, rebate or inducement which it knows to be in violation of this section. (b) No person shall knowingly receive or accept in any manner, any commission, rebate or inducement referred to in subsection (a) of this section. (c) Nothing in this section shall be construed as prohibiting reasonable payments, other than for the referral of title insurance business, for services actually rendered to either a title insurer or a title agent in connection with title insurance business.

Your change, as a redline

26-23-322. Rebates and inducements prohibited.

(a) No title insurer or title agent shall: (i) Pay in any manner to any person any commission, any part of its premiums, fees or other charges or any other consideration as inducement or compensation for the referral of title business or for performance of any escrow or other service by the title insurer or title agent; (ii) Issue any title insurance policy or perform any service in connection with any transaction in which it has paid or intends to pay any commission, rebate or inducement which it knows to be in violation of this section. (b) No person shall knowingly receive or accept in any manner, any commission, rebate or inducement referred to in subsection (a) of this section. (c) Nothing in this section shall be construed as prohibiting reasonable payments, other than for the referral of title insurance business, for services actually rendered to either a title insurer or a title agent in connection with title insurance business.

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Who it helps, what it costs, what it fixes. It is what persuades people to support it.

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