SB 86: Title Insurance Procedures - STATUS: PASSED - Effective June 1, 2009 for regulations and October 1, 2009 for bonding requirements.

Clarifies that trust money given to a title insurance producer must be given to either a licensed title insurer or a law firm.  We successfully sought clarification that only trust money given to a title insurer was affected by the bill, rather than all trust money connected to a real estate transaction.  The legislation also increases the bonding or letter of credit required for title insurance producers from $100,000 to $150,000.