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AL SB456
Bill
Status
5/5/2015
Primary Sponsor
Greg Albritton
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AI Summary
SB456 Summary
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Amends Section 27-25-3 of the Code of Alabama 1975 to exempt licensed attorneys from title insurance agent licensure requirements.
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Adds provision to the definition of "title agent" or "agent" excluding attorneys licensed by the Alabama State Bar from any licensure or regulation under the title insurance chapter.
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Licensed attorneys performing title insurance activities remain exempt from State Insurance Department licensing and regulatory oversight.
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Becomes effective immediately upon passage and approval by the Governor, or upon otherwise becoming law.
Legislative Description
Title Insurance, agents, attorneys exempt from licenses by Insurance Department, Sec. 27-25-3 am'd.
Attorneys
Last Action
Read for the first time and referred to the Senate committee on Banking and Insurance
5/5/2015