HCS SCS SB 57 -- TITLE INSURANCE

SPONSOR:  Klindt (Wilson, 130)

COMMITTEE ACTION:  Voted "do pass" by the Committee on Local
Government by a vote of 13 to 1.

This substitute exempts escrow processors, clerical staff, and
technical support employees who work for a title agency or title
insurer from title insurance licensing requirements as long as
they do not quote or negotiate rates or coverage.

FISCAL NOTE:  No impact on General Revenue Fund in FY 2006, FY
2007, and FY 2008.  Estimated Cost on Other State Funds of $7,500
in FY 2006, FY 2007, and FY 2008.

PROPONENTS:  Supporters say that the bill clarifies who is
required to hold a license.

Testifying for the bill were Senator Klindt; Missouri Land Title
Association; and Cendant Corporation.

OPPONENTS:  There was no opposition voiced to the committee.

Julie Jinkens McNitt, Legislative Analyst

Missouri House of Representatives
93rd General Assembly, 1st Regular Session
Last Updated August 25, 2005 at 1:21 pm