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NY S04920
Bill
Status
Introduced
4/29/2011
Primary Sponsor
John DeFrancisco
Click for details
AI Summary
- Title insurance providers must issue applicants a list of all applicable service charges for title services upon receipt of an application for a one-to-four family residence policy
- Service charges must be clearly itemized separately showing charges passed to third parties, charges for services rendered by the provider, and any other service charges
- Providers only required to disclose service charges based on facts known at the time of application
- Willful violations allow customers to recover the lesser of $1,500 or three times the amount of each service charge billed in violation
- Act takes effect 90 days after enactment
Legislative Description
Requires disclosure of title service charges by a title insurance provider to the customer upon receipt of an application for a title insurance policy.
Last Action
COMMITTED TO RULES
6/21/2012
Committee Referrals
Rules6/21/2012
Insurance4/29/2011
Full Bill Text
No bill text available