Code of Alabama - Title 27: Insurance - Chapter 25 - Title Insurance

• Section 27-25-1 Enjoining of certain acts; revocation of charter for violating same
  Repealed by Act 2001-496, §12, effective October 1, 2001.
• Section 27-25-1.1 Short title
  (a) This chapter shall be known and cited as the Alabama Title Insurance Act. (b) The purpose of this chapter is to set forth certain...
• Section 27-25-2 Applicability of chapter
  (a) This chapter shall apply to all title insurers and title agents engaged in the business of title insurance in this state. (b) Except as...
• Section 27-25-3 Definitions
  For the purposes of this chapter, the following terms shall have the following meanings: (1) ABSTRACT OF TITLE. A compilation or summary of all instruments...
• Section 27-25-4 Title insurance agent; appointment; issuance of policies
  (a) No person shall act as a title insurance agent in this state unless licensed pursuant to this chapter. Nothing herein contained shall be construed...
• Section 27-25-4.1 Title agent qualifications
  (a) The commissioner may contract with non-governmental entities, including NAIC, to perform any ministerial functions, including the collection of fees and data, related to licensing...
• Section 27-25-4.2 License; license renewal; name or address change
  (a) Unless denied licensure pursuant to Section 27-25-4.5, a person who meets the requirements of Sections 27-25-4.1 and 27-25-4.3 shall be issued a title insurance...
• Section 27-25-4.3 Prelicensing course and examination
  (a)(1) Every individual subject to the examination required in subsection (b) shall first complete a prelicensing course consisting of 20 classroom hours or equivalent individual...
• Section 27-25-4.4 Continuing education
  (a) An individual who holds a title insurance agent license shall satisfactorily complete a minimum of 24 hours of continuing education courses as may be...
• Section 27-25-4.5 License denial, non-renewal, or revocation
  (a) The commissioner may place on probation, suspend, revoke, or refuse to issue or renew the license of a title insurance agent or may levy...
• Section 27-25-4.6 Fingerprints
  (a) In order to make a determination of title insurance agent license eligibility, the commissioner may require fingerprints of initial applicants for a title insurance...
• Section 27-25-4.7 Fees
  (a) The Commissioner of Insurance shall collect in advance the following fees: (1) Title insurance agent licenses: a. Individuals: 1. Application fee (for filing of...
• Section 27-25-4.8 Implementation
  (a) The commissioner, by rule pursuant to Chapter 2, may provide for the implementation of the requirements of this chapter. (b) Each title insurance agent...
• Section 27-25-5 Duties of title insurer, etc
  No preliminary report, commitment, binder, policy, or contract of title insurance shall be issued until and unless the title insurer or the person or agent...
• Section 27-25-6 Companies to file rates
  (a) Every title insurer shall file with the commissioner its schedule of premium rates and every modification of any premium rate that it proposes to...
• Section 27-25-7 Notice of availability of owner's title insurance
  (a) In connection with any transaction involving the purchase or sale of a fee simple or possessory interest in real property in this state, the...
• Section 27-25-8 Rules and regulations
  The commissioner shall adopt rules and regulations for the purpose of implementing the provisions of this chapter in accordance with the Alabama Administrative Procedure Act.
• Section 27-25-9 Violations; enforcement of chapter; penalties
  (a) Each individual transaction which is in violation of this chapter or which does not otherwise conform to the requirements of this chapter shall be...
• Section 27-25-10 Construction of chapter
  This chapter shall not be interpreted or construed as regulating or attempting to regulate the practice of law.

Last modified: May 3, 2021