FIRST REGULAR SESSION
HOUSE BILL NO. 654
93RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES WILSON (130) (Sponsor),
YATES AND GOODMAN (Co-sponsors).
Read 1st time February 28, 2005 and copies ordered printed.
STEPHEN S. DAVIS, Chief Clerk
To amend chapter 381, RSMo, by adding thereto two new sections relating to title insurance.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 381, RSMo, is amended by adding thereto two new sections, to be known as sections 381.012 and 381.059, to read as follows:
381.012. An employee of a title agency or title insurer is not required to be licensed if:
(1) The employee is an escrow processor whose primary responsibility is to obtain and prepare figures for closing real estate transactions and does not quote or negotiate title insurance rates nor determines title insurance policy coverages;
(2) The employee's primary duties are limited to clerical functions such as typing, filing, or performing bookkeeping duties and does not quote or negotiate title insurance rates nor determines title insurance policy coverages;
(3) The employee's primary duties are limited to providing technical support or advice regarding business systems, software, or other equipment used in the operation of the business and does not quote or negotiate title insurance rates or determine title insurance policy coverages.
381.059. 1. Notwithstanding the provisions of section 375.015 or 375.017, RSMo, any resident of this state applying for or renewing a license to sell, solicit, or negotiate title insurance shall pay a license fee in the sum of sixty dollars. Notwithstanding section 375.018, RSMo, the biennial renewal fee for such a license shall be sixty dollars.
2. The provisions of this section shall not apply to a nonresident person who applies for or renews a license to sell, solicit, or negotiate title insurance.