SB1317sam002 101ST GENERAL ASSEMBLY

Sen. Don Harmon

Filed: 4/5/2019

10100SB1317sam002 LRB101 09891 AMC 59293 a

AMENDMENT TO SENATE BILL 1317

AMENDMENT NO. ______. Amend Senate Bill 1317, AS AMENDED, with reference to page and line numbers of Senate Amendment No. 1, on page 10, immediately below line 7, by inserting the following:

"(c) The Secretary or the Secretary's authorized representative shall have power and authority to compel an independent escrowee's compliance with the provisions of this Act pursuant to subsection (f) of Section 17 of this Act."; and

on page 20, line 17, by replacing "Title insurance rate." with "Rate and service fee filings."; and

on page 20, line 18, after "Rate", by inserting "and service fee"; and

on page 20, line 25, after the period, by inserting "Every title insurance company and independent escrowee shall file with the Secretary the specification of services and schedule of fees for each fee intended to be charged to the parties to a transaction pursuant to paragraph (5) of subsection (k) of this Section."; and

on page 21, line 13, by replacing "becomes effective" with "can become effective only by approval of the Secretary"; and

on page 22, line 4, after "period", by inserting ", and such rates can be effective only by approval of the Secretary"; and

on page 36, by replacing lines 3 through 12 with the following:

"(5) Subject to all other provisions of this Section regarding rate filing requirements, a filing shall also include a specification of services to be performed and schedule of fees for each fee intended to be charged to the parties to the transaction, which includes, but is not limited to, closing fees, escrow fees, settlement fees, closing protection letter fees subject to Section 16.1 of this Act, and like charges, and is applicable to services provided by an independent escrowee, which must similarly file a specification of services and schedule of fees with the Secretary."; and

on page 37, by replacing lines 12 through 15 with the following:

"(5.1) has accepted or referred a title order or performed title services with knowledge that the order was placed in exchange for the express or implicit promise that a consumer has been or will be referred to that provider for services;"; and

on page 39, line 17, by replacing "furnished" with "material furnished"; and

on page 40, line 3, by replacing "Section" with "Sections"; and

on page 41, line 1, by replacing "furnished," with "furnished"; and

on page 41, line 11, by replacing "was" with "has"; and

on page 42, line 3, by replacing "waive" with "waive,"; and

on page 50, line 17, by replacing "a independent" with "an independent"; and

on page 51, line 10, by replacing "take" with "takes".