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AR HB1828
Bill
Status
4/7/2017
Primary Sponsor
Les Warren
Click for details
AI Summary
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Amends Arkansas Code § 23-103-408 to specify that title insurance agencies and agents act solely as agents of the title insurer and owe no duty to the insured when conducting title searches.
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Eliminates any cause of action for negligence by an insured against a title insurance agency, agent, or insurer for lack of reasonable care in searching and disclosing property title.
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Establishes that the insured's exclusive remedy for title defects not identified by the search is to file a claim against the title insurance policy subject to its terms and conditions.
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Approved April 6, 2017.
Legislative Description
Concerning The Arkansas Title Insurance Act; And To Clarify That No Cause Of Action Exists For Negligence By An Insured Against A Title Insurance Agency Or Agent For Lack Of Reasonable Care In A Title Search.
Last Action
Notification that HB1828 is now Act 1005
4/7/2017