2020 Regular Session ENROLLED
SENATE BILL NO. 180
BY SENATOR MORRIS
1 AN ACT
2 To amend and reenact R.S. 22:512(16), 513, 519, 1545(C)(2), and 1571(E)(1), relative to
3 title insurers; to provide definitions; to provide for qualifications and licensing of
4 individual and agency title insurers; and to provide for related matters.
5 Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 22:512(16), 513, 519, 1545(C)(2), and 1571(E)(1) are hereby
7 amended and reenacted to read as follows:
8 §512. Definitions
9 As used only in this Subpart, the following words are defined as:
10 * * *
11 (16) (a) "Title Individual title insurance producer" or "individual producer"
12 shall mean a licensed natural person who is either a resident of this state or a
13 nonresident individual who is employed by a resident licensee, authorized on
14 behalf of the title insurer to issue title insurance reports or policies.
15 (b) "Agency title insurance producer" or "agency producer" shall mean
16 a business entity appointed to represent a title insurer, whose principal place of
17 business is physically located in this state, or who has designated a resident
18 licensed individual producer employed by the business entity as responsible for
19 complying with the requirements of this Section.
20 * * *
21 §513. Title insurers and producers; qualifications
22 A. Only those persons authorized as a title insurer or producer insurers or
23 producers pursuant to this Title shall be qualified to issue a title insurance policy
24 policies or reports or otherwise transact the business of title insurance.
25 Notwithstanding any other law to the contrary, all title insurance policies and reports
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1 covering any insurable interest in title to immovable property located in this state
2 shall be signed by a producer licensed in this state under this Subpart or by an
3 employee of a title insurer issuing the title insurance policies and reports when such
4 the employee is a producer licensed in this state under this Subpart.
5 B. The qualifications for each individual title insurance producer shall
6 be as follows:
7 (1) Shall be a natural person at least eighteen years of age.
8 (2) Shall be a resident of this state or be a full-time employee of a
9 licensed agency producer whose principal place of business is physically located
10 in this state.
11 (3) Shall hold a high school diploma, a diploma for completion of a home
12 study program approved by the State Board of Elementary and Secondary
13 Education, or a high school equivalency diploma issued after successfully
14 completing the test of general educational development.
15 (4) Shall be able to read, write, speak, and be sufficiently knowledgeable
16 of the English language.
17 (5) Shall receive a passing score on the title insurance examination
18 administered by the department.
19 (6) Shall complete the required hours of prelicensing education under
20 R.S. 22:1545 and 1571 related to Louisiana property law and title insurance,
21 within the one-year period prior to application.
22 C. The qualifications for each agency title insurance producer shall be
23 as follows:
24 (1) Shall be a Louisiana entity whose principal place of business is
25 physically located in this state, or a foreign entity registered to do business in
26 this state whose principal place of business within Louisiana is suitable for
27 conducting the business of title insurance and real estate closing.
28 (2) Shall employ at least one licensed individual producer designated
29 with responsibility for ensuring compliance with the requirements of this
30 Section.
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1 (3) Shall maintain its appointment to represent a title insurer, along with
2 affiliation of the individual producer designated in Paragraph (2) of this
3 Subsection.
4 (4) The entity and its designated individual producer shall not have had
5 an agency producer license, or its equivalent or an individual producer license,
6 or its equivalent, suspended, revoked, or refused in any other state, province,
7 district, or territory.
8 * * *
9 §519. Title insurance producers; examination
10 A. The department or title insurer may during normal business hours
11 examine, audit, and inspect any and all books, records, files, and escrow and
12 operating accounts related to the title insurance business maintained by a title
13 insurance producer its successor in interest, transferee, or receiver as provided under
14 this Subpart.
15 B. In order to comply with the provisions of this Section, a producer shall
16 maintain records in legible format, readily accessible to the department, and in
17 a location fully accessible from or physically existing in Louisiana.
18 * * *
19 §1545. Examination
20 * * *
21 C.(1) * * *
22 (2) This Subsection shall not apply to any applicant seeking authorization to
23 write industrial fire, limited life, health and accident, surety, title, surplus lines, or
24 credit insurance business only.
25 * * *
26 §1571. Registered insurance producer and bail bond producer prelicensing program
27 * * *
28 E.(1) Each registered insurance producer prelicensing program for lines other
29 than bail bonds shall provide instruction by a qualified instructor in a structured
30 setting or by verifiable approved self-study with a minimum of twenty hours of
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1 supervised instruction or self-study, including instruction in applicable insurance
2 principles, state laws and regulations, and ethical practices, for each of the following
3 lines of authority a license is sought: life, health and accident, property, casualty,
4 title, and personal lines.
5 * * *
6 Section 2. This Act shall become effective on January 1, 2021.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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