Texas Insurance Code Title 11, Chapter 2652 - Escrow Officers
SUBCHAPTER A GENERAL PROVISIONS
- Texas Section 2652.001 - License And Bond Or Deposit Required
An individual may not act as an escrow officer unless the individual: (1) holds a license issued by the department; (2) is covered by a...
- Texas Section 2652.002 - Employment Of Escrow Officer
(a) A title insurance agent or direct operation may not employ an individual as an escrow officer unless the individual: (1) holds a license issued...
- Texas Section 2652.003 - Attorney Acting As Escrow Officer
(a) Notwithstanding Section 2652.001, an attorney is not required to be licensed as an escrow officer to perform the duties of an escrow officer as...
- Texas Section 2652.004 - Trust Fund Account Disbursements
(a) An escrow officer may not disburse funds from a trust fund account until good funds related to the transaction have been received and deposited...
- Texas Section 2652.005 - Escrow Account Audit
Each escrow account used by a licensed escrow officer for closing a transaction is subject to the audit requirements of Subchapter D, Chapter 2651. Added...
SUBCHAPTER B LICENSE APPLICATION AND RENEWAL
- Texas Section 2652.006 - Record Of Escrow Officers; Public Information
(a) The department shall maintain a record of each escrow officer licensed by the department in a manner that ensures that the escrow officers employed...
- Texas Section 2652.051 - License Application
(a) Before an initial license is issued to an individual to act as an escrow officer in this state for a title insurance agent or...
- Texas Section 2652.052 - License And Renewal Fees
(a) The department shall prescribe the license fee in an amount not to exceed $50. (b) License and renewal fees collected under this chapter and...
- Texas Section 2652.053 - 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 2652.051 are...
- Texas Section 2652.054 - Duplicate License
(a) The department shall collect in advance a fee from a title insurance agent or direct operation that requests a duplicate license. (b) The department...
- Texas Section 2652.055 - License Term
Unless a system of staggered license renewal is adopted or required under Chapter 4003, a license expires on the second June 1 following the date...
- Texas Section 2652.056 - Procedure For License Renewal
An individual may renew an unexpired escrow officer license by: (1) submitting to the department on a form provided by the department a completed application,...
- Texas Section 2652.057 - License Surrender Or Forfeiture
(a) An escrow officer may voluntarily surrender the escrow officer's license at any time by giving notice to the department. (b) Repealed by Acts 2015,...
- Texas Section 2652.058 - 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 an...
SUBCHAPTER C BOND AND DEPOSIT REQUIREMENTS
- Texas Section 2652.059 - Denial Of License Application Or License Renewal; Approval
(a) Not later than the 20th business day after the date the department receives a license application or a license renewal under this chapter, the...
- Texas Section 2652.101 - Bond Required
(a) A title insurance agent or direct operation shall obtain, at its own expense, a bond for its escrow officers appointed under Section 2652.1511 payable...
- Texas Section 2652.102 - Alternative To Bond
(a) Instead of the bond required by Section 2652.101, a title insurance agent or direct operation may deposit with the department: (1) cash; (2) irrevocable...
- Texas Section 2652.103 - Amount Of Bond Or Deposit
(a) The amount of the bond or deposit required under this subchapter is determined by multiplying the number of escrow officers employed by the title...
- Texas Section 2652.104 - 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 escrow officer to...
SUBCHAPTER D DUTIES OF TITLE INSURANCE AGENTS AND DIRECT OPERATIONS REGARDING ESCROW OFFICERS
- Texas Section 2652.105 - Investigation By Attorney General
(a) On receipt of a written statement under Section 2652.104, the attorney general shall investigate the charges and, on determining that a loss covered by...
- Texas Section 2652.151 - List Of Escrow Officers
(a) A title insurance agent or direct operation shall certify to the department, not later than the expiration date of the title insurance agent's or...
- Texas Section 2652.1511 - Appointment Of Escrow Officer
(a) An escrow officer may be employed and appointed by more than one title insurance agent or direct operation. (b) Before an escrow officer may...
SUBCHAPTER E LICENSE DENIAL AND DISCIPLINARY ACTION
- Texas Section 2652.153 - Notice Of Termination
A title insurance agent or direct operation that terminates the employment of a licensed escrow officer shall: (1) immediately notify the department in writing of...
- Texas Section 2652.201 - Grounds For License Denial Or Disciplinary Action
(a) The department may deny an application for a license or discipline an escrow officer under Sections 4005.102, 4005.103, and 4005.104 if the department determines...
- Texas Section 2652.2015 - Prohibited Grounds For Delay Or Denial
(a) Except as provided by Subsection (b) or (c), the department may not delay or deny a license application or a license renewal based wholly...
- Texas Section 2652.202 - 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 2652.203 - Notice Of Disciplinary Or Enforcement Action; Automatic Dismissal
(a) The department shall notify a license holder of a disciplinary action or enforcement action against the license holder not later than the 30th business...
Last modified: September 28, 2016