ENROLLED
ACT No. 82021 Regular Session
HOUSE BILL NO. 65
BY REPRESENTATIVE ECHOLS AND SENATORS CATHEY, JACKSON, AND
MORRIS
1 AN ACT
2 To amend and reenact R.S. 22:526, relative to mandatory audits of title insurance producers
3 by title insurers; to provide for periodic audits; to provide for audit requirements; to
4 make technical changes; and to provide for related matters.
5 Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 22:526 is hereby amended and reenacted to read as follows:
7 ยง526. Title insurer; audit
8 A. The title insurer shall, at least once every three years, conduct an on-site
9 audit of the escrow and settlement practices, escrow accounts, security arrangements,
10 files, underwriting and claims practices, and policy inventory of the producer. If the
11 title insurance producer fails to maintain separate escrow or trust accounts for each
12 title insurer it represents, the title insurer shall verify that the funds related to
13 closings in which the title insurer's policies are issued are reasonably ascertainable
14 from the books of account and records of the title insurance producer.
15 B. The department commissioner may promulgate regulations setting forth
16 the standards of audit and the form of audit required. The department commissioner
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HB NO. 65 ENROLLED
1 may also require the title insurer to provide a copy of its audit reports to the
2 department.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.