Texas Insurance Code Title 11, Chapter 2651 - Title Insurance Agents And Direct Operations
SUBCHAPTER A TITLE INSURANCE AGENT'S LICENSE
- Texas Section 2651.001 - License And Bond Or Deposit Required
(a) An individual, firm, association, or corporation may not act in this state as a title insurance agent for a title insurance company unless the...
- Texas Section 2651.002 - License Application
(a) Before an initial license is issued to an individual, firm, association, or corporation to act as an agent in this state for a title...
- Texas Section 2651.0021 - Professional Training Program
(a) The commissioner shall adopt by rule a professional training program for a title insurance agent and the management personnel of the title insurance agent....
- Texas Section 2651.003 - License And Renewal Fees
(a) The department shall prescribe the license fee in an amount not to exceed $50. (b) License fees, and renewal fees collected under this subchapter,...
- Texas Section 2651.004 - License Issuance
The department shall issue a license if the department determines, based on the application and the department's investigation, that the requirements of Section 2651.002 are...
- Texas Section 2651.005 - Duplicate License
(a) The department shall collect in advance a fee from a title insurance agent who requests a duplicate license. (b) The department shall prescribe the...
- Texas Section 2651.006 - License Term
Unless a system of staggered license renewal is adopted under Section 4003.002, a license issued under this subchapter expires on June 1 after the second...
- Texas Section 2651.007 - License Renewal
(a) A title insurance agent may renew a license by: (1) filing a completed license renewal application form with the department; and (2) paying the...
- Texas Section 2651.008 - Records Of Agents
The department shall maintain a record of the name and address of each title insurance agent licensed by the department in a manner that ensures...
- Texas Section 2651.009 - Multiple Appointments
(a) A licensed title insurance agent may be appointed to represent additional title insurance companies. (b) Any additional title insurance company must notify the department...
- Texas Section 2651.010 - Suspension Of License
The department shall suspend the license of a title insurance agent during any period in which the agent does not have a valid appointment. The...
- Texas Section 2651.011 - Privileged Communications; Financial Information
(a) Any information, including a document, record, or statement, and including information provided to or received from the commissioner under Subsection (b) or (c), or...
- Texas Section 2651.012 - Unencumbered Assets
(a) In this section: (1) "Principal office" means a principal office of the business organization, unincorporated association, sole proprietorship, or partnership in this state in...
- Texas Section 2651.0121 - Solvency Account
(a) An agent may maintain a solvency account to accrue and hold unencumbered assets as provided by this section. (b) An account under this section...
SUBCHAPTER B DIRECT OPERATION LICENSE
- Texas Section 2651.013 - Division Of Premium Held In Trust; Rules
(a) The funds held by a title insurance agent that are owed to a title insurance company, another title insurance agent, or a direct operation...
- Texas Section 2651.051 - License Required
(a) A title insurance company may not own or lease and operate an abstract plant or participate in a bona fide joint abstract plant operation...
- Texas Section 2651.052 - License Application
(a) Before a direct operation license is issued to a title insurance company, the company must file an application for a direct operation license on...
- Texas Section 2651.053 - License And Renewal Fees
(a) The department shall prescribe the license fee in an amount not to exceed $50. (b) License fees, and renewal fees collected under this subchapter,...
- Texas Section 2651.054 - License Term
Unless a system of staggered license renewal is adopted, a license issued under this subchapter expires on the second June 1 following the date of...
- Texas Section 2651.055 - License Renewal
(a) On or before the expiration date of a license issued under this subchapter, a title insurance company may renew the license by: (1) certifying...
- Texas Section 2651.056 - Ceasing Operation Of Abstract Plant; Request For License Cancellation
If a title insurance company ceases to operate a licensed abstract plant, the company shall immediately notify the department in writing and request cancellation of...
- Texas Section 2651.057 - Automatic Termination Of Licenses
If a title insurance company surrenders the company's certificate of authority or if the certificate of authority is revoked by the department, all licenses of...
- Texas Section 2651.058 - Records Of Direct Operations
The department shall maintain a record of the county and address of each location at which a title insurance company operates an abstract plant in...
SUBCHAPTER C BOND AND DEPOSIT REQUIREMENTS
- Texas Section 2651.059 - Use Of Agents Not Prohibited
This subchapter does not prohibit a title insurance company from issuing title insurance through a licensed title insurance agent. Added by Acts 2003, 78th Leg.,...
- Texas Section 2651.101 - Bond Required
(a) Each licensed title insurance agent and direct operation shall make, file, and pay for a surety bond payable to the department and issued by...
- Texas Section 2651.102 - Alternative To Bond
(a) Instead of the bond required by Section 2651.101, a title insurance agent or direct operation may deposit with the department: (1) cash; (2) irrevocable...
- Texas Section 2651.103 - Examination Of Loss Covered By Bond Or Deposit
(a) At any time it appears that a loss covered by a bond or deposit has occurred, the department may require the title insurance agent...
SUBCHAPTER D ANNUAL AUDIT
- Texas Section 2651.104 - Investigation By Attorney General
(a) On receipt of a written statement under Section 2651.103, the attorney general shall investigate the charges and, on determining that a loss covered by...
- Texas Section 2651.151 - Annual Audit Of Trust Fund Accounts: Title Insurance Agents And Direct Operations
(a) Each title insurance agent and direct operation shall have an annual audit made of trust fund accounts. The agent or direct operation shall pay...
- Texas Section 2651.152 - Annual Audit Of Trust Fund Accounts: Title Insurance Companies
(a) Each title insurance company shall have an annual audit made of trust fund accounts for each county in which it operates in its own...
- Texas Section 2651.153 - Rules
The commissioner by rule shall adopt: (1) the standards for an audit; and (2) the form of the required audit report. Added by Acts 2003,...
- Texas Section 2651.154 - Performance Of Audit By Public Accountant
An audit required under this subchapter must be performed by an independent certified public accountant or licensed public accountant, or a firm composed of either....
- Texas Section 2651.155 - Confidentiality Of Audit
The commissioner may classify an audit report that is filed with the department by a title insurance company under this subchapter as confidential and privileged....
- Texas Section 2651.156 - Failure To Receive Audit Report From Agents Or Direct Operations
If a title insurance company fails to receive an audit report from any of the company's agents or direct operations in the specified period required...
- Texas Section 2651.157 - Enforcement; Hearing
(a) After notice and hearing, the department may revoke the license or certificate of authority of a title insurance agent, direct operation, or title insurance...
SUBCHAPTER E GENERAL REGULATION OF TITLE INSURANCE AGENTS AND DIRECT OPERATIONS
- Texas Section 2651.158 - Certification Of Unencumbered Assets
(a) Unless the agent has elected to make a deposit with the department under Section 2651.012(f), the annual audit of escrow accounts must be accompanied...
- Texas Section 2651.201 - License Surrender Or Forfeiture
(a) A title insurance agent or direct operation may voluntarily surrender at any time a license issued under this chapter by giving notice to: (1)...
- Texas Section 2651.202 - Trust Fund Account Disbursements
(a) A title insurance company, title insurance agent, or direct operation may not disburse funds from a trust fund account until good funds related to...
- Texas Section 2651.203 - Disclosure Of Ownership And Premium Information
(a) A title insurance agent who receives a portion of a premium shall disclose to each purchaser of a title insurance policy or other title...
- Texas Section 2651.204 - Continuing Education
(a) To protect the public and to preserve and improve the competence of license holders, the department shall require as a condition of holding a...
- Texas Section 2651.205 - Title Agent Records
(a) A landlord or storage facility, including electronic storage, that accepts possession of an agent's guaranty file or other records takes possession subject to: (1)...
SUBCHAPTER F TITLE INSURANCE COMPANY POWERS AND DUTIES REGARDING TITLE INSURANCE AGENTS
- Texas Section 2651.206 - Examination Reports
(a) An audit, review, or examination conducted under this chapter or Chapter 2602 must be conducted in accordance with rules adopted by the commissioner. The...
- Texas Section 2651.251 - Examination Of Trust Fund Accounts By Title Insurance Company
(a) A title insurance company may examine, at any time, the trust fund accounts and related records of the company's title insurance agents through the...
- Texas Section 2651.252 - Special Reports
A title insurance company may require special reports from the company's title insurance agents regarding any of its transactions. Added by Acts 2003, 78th Leg.,...
SUBCHAPTER G LICENSE DENIAL AND DISCIPLINARY ACTION
- Texas Section 2651.253 - Audit Of Unused Forms
(a) A title insurance company shall periodically audit the unused forms in the possession of each of the company' s title insurance agents to determine...
- Texas Section 2651.301 - Grounds For License Denial Or Disciplinary Action
The department may deny an application for a license or discipline a title insurance agent or direct operation under Sections 4005.102, 4005.103, and 4005.104 if...
- Texas Section 2651.3015 - Prohibited Grounds For Rejection, Delay, Or Denial
(a) Except as provided by Subsection (b) or (c), the department may not reject, delay, or deny a notice of appointment under Section 2651.009 based...
- Texas Section 2651.302 - License Application After Denial, Refusal, Or Revocation
(a) An applicant whose license application has been denied or refused or a license holder whose license has been revoked under this subchapter may not...
- Texas Section 2651.303 - Notice Of Disciplinary Or Enforcement Action; Automatic Dismissal
(a) The department shall notify a license holder in writing of a disciplinary or enforcement action against the license holder not later than the 30th...
Last modified: September 28, 2016