Louisiana 2011 2011 Regular Session

Louisiana Senate Bill SB36 Enrolled / Bill

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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2011	ENROLLED
SENATE BILL NO. 36
BY SENATOR MORRISH 
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
AN ACT1
To amend and reenact R.S. 22:512(1) and 17(b)(vi)(introductory paragraph) and R.S.2
37:212(A)(2)(d), relative to abstracts of title; to provide definitions; to provide3
relative to title insurance; to provide relative to abstracts of title and title examination4
and opinions; to provide relative to the practice of law; to provide definitions, terms,5
procedures, conditions, and requirements; to provide for an effective date; and to6
provide for related matters.7
Be it enacted by the Legislature of Louisiana:8
Section 1. R.S. 22:512(1) and 17(b)(vi)(introductory paragraph) are hereby amended9
and reenacted to read as follows: 10
§512. Definitions11
As used only in this Subpart, the following words are defined as:12
(1)(a) "Abstract of title" or "abstract" shall mean a written history, synopsis,13
or summary of the recorded instruments affecting the title to movable or immovable14
property a written history, synopsis, or summary of the recorded instruments in15
the public records affecting the title to immovable property that: (i) is prepared16
and certified by the abstractor in accordance with the minimum search periods17
and requirements of a title opinion as set forth in Paragraph (17) of this Section;18
(ii) includes a photocopy or electronic copy of such recorded instruments, or19
extracts of such recorded instruments prepared by the abstractor who20
personally reviewed such recorded instruments; and (iii) is dated and signed by21
the abstractor and presented to an attorney duly licensed and authorized to22
practice law in Louisiana, as set forth in Paragraph (17) of this Section and R.S.23
37:212, for examination.24
(b) For the purpose of this Paragraph, "public records" shall mean all25
instruments, including actual attachments thereto, which are recorded in the26 SB NO. 36	ENROLLED
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words in boldface type and underscored are additions.
mortgage and conveyance records maintained by the clerk of court of the parish1
in which the property is situated, and the ad valorem property tax records for2
the parish and political subdivision in which the property is situated.3
(c) Nothing in this Section prohibits any attorney duly licensed and4
authorized to practice law in Louisiana from personally reviewing and5
examining the public records in order to certify or give an opinion as to the title6
to immovable property.7
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(17) "Title insurance business" or "business of title insurance" shall mean:9
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(b) Transacting or proposing to transact by a title insurer or a title insurance11
agent any of the following activities when conducted or performed in contemplation12
of or in conjunction with the issuance of a title insurance report or policy:13
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(vi) Examining titles; however, any title insurance report or title insurance15
policy relating to immovable property shall be based upon an examination of title16
which shall be conducted the public records or a personal examination of an17
abstract. Such examinations shall be conducted and title opinion rendered only18
by an attorneys duly licensed and authorized to practice law in Louisiana 	as19
provided in R.S. 37:212. The examination and resulting opinion, if it furnishes the20
basis of a title insurance report or title insurance policy relating to immovable21
property, shall be reduced to writing by the attorney. The title opinion shall contain22
the following:23
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Section 2. R.S. 37:212(A)(2)(d) is hereby amended and reenacted to read as follows:25
§212. "Practice of law" defined26
A. The practice of law means and includes:27
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(2) For a consideration, reward, or pecuniary benefit, present or anticipated,29
direct or indirect;30 SB NO. 36	ENROLLED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
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(d) Certifying or giving opinions, or rendering a title opinion as a basis of2
any title insurance report or title insurance policy as provided in R.S.3
22:512(17), as it relates to title to immovable property or any interest therein or as4
to the rank or priority or validity of a lien, privilege or mortgage as well as the5
preparation of acts of sale, mortgages, credit sales or any acts or other documents6
passing titles to or encumbering immovable property.7
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Section 3.  This Act shall become effective on January 1, 2012.9
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: