SLS 201ES-292 ORIGINAL
2020 First Extraordinary Session
SENATE CONCURRENT RESOL UTION NO. 26
BY SENATOR TALBOT
INSURERS. Suspends certain provisions of law relative to on-site audits of title insurance
producers. (Item #25)
1 A CONCURRENT RESOL UTION
2 To suspend until sixty days after final adjournment of the 2021 Regular Session of the
3 Legislature of Louisiana the provisions of R.S. 22:526(A) relative to on-site audits
4 of title insurance producers by title insurers.
5 WHEREAS, Article III, Section 20 of the Constitution of Louisiana provides that
6 only the legislature may suspend a law; and
7 WHEREAS, R.S. 22:526(A) provides, in part, that a title insurer shall, at least once
8 every three years, conduct an on-site audit of the escrow and settlement practices, escrow
9 accounts, security arrangements, files, underwriting and claims practices, and policy
10 inventory of its title insurance producers; and
11 WHEREAS, the current public health emergency caused by COVID-19 has led to
12 public orders for social distancing, and to businesses imposing travel restrictions and
13 implementing work-from-home plans in order to combat the spread of the virus; and
14 WHEREAS, current technology makes it possible for the audits of title insurance
15 accounts and records to continue through remote means without compromising the
16 thoroughness and integrity of the audits.
17 THEREFORE, BE IT RESOLVED that the Legislature of Louisiana hereby suspends
18 the provisions of R.S. 22:526(A) which require the audit of title insurance producers by title
Page 1 of 2 SCR NO. 26
SLS 201ES-292 ORIGINAL
1 insurers to be conducted on-site.
2 BE IT FURTHER RESOLVED that this suspension shall become effective upon
3 adoption of this Resolution and shall extend through the sixtieth day after final adjournment
4 of the 2021 Regular Session of the Legislature of Louisiana.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Brandi Cannon.
DIGEST
SCR 26 Original 2020 First Extraordinary Session Talbot
Suspends the provisions of R.S. 22:526(A) which require the audit of title insurance
producers by title insurers to be conducted on-site.
Present law (R.S. 22:526(A)) provides that a title insurer shall, at least once every three
years, conduct an on-site audit of the escrow and settlement practices, escrow accounts,
security arrangements, files, underwriting and claims practices, and policy inventory of the
producer. Further provides, if the title insurance producer fails to maintain separate escrow
or trust accounts for each title insurer it represents, the title insurer shall verify that the funds
related to closings in which the title insurer's policies are issued are reasonably ascertainable
from the books of account and records of the title insurance producer.
Effective through the 60th day following the 2021 Regular Session.
(Suspends portions of R.S. 22:526(A))
Page 2 of 2