NY A01688

Expands the State Insurance Fund's purposes to allow it to offer title insurance policies and certificates of clear title to property buyers

Creates a separate "title insurance fund" within the State Insurance Fund to hold premiums, securities, and interest earned from the title insurance program

Directs the Superintendent of Financial Services to establish a Title Insurance Bureau within the Insurance Department to implement the program

Authorizes the Superintendent of Financial Services to prescribe, amend, and withdraw rules and regulations governing the new title insurance program

Takes effect immediately upon passage