IL SB3712

Requires title insurance agent registration applicants to submit a notarized affidavit affirming that the applicant and all owners, officers, directors, principals, members, or managers have never been convicted or pleaded guilty to any felony or misdemeanor involving theft or dishonesty.

Prohibits registration of any person with a conviction or guilty plea to felonies or misdemeanors involving theft or dishonesty, and bars such persons from serving as owners, officers, directors, principals, or managers of registered title insurance agents.

Adds limited liability companies to the types of entities that can be registered as title insurance agents.

Expands grounds for Secretary to suspend, revoke, or refuse registration to include fraud, misrepresentation in applications, convictions for felonies or dishonesty-related crimes, prior discipline by other states, misleading advertising, and failure to account for client money or documents.

Effective January 1, 2013.