Illinois House Bill 1604 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 30 2019 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Title Insurance Act. In provisions concerning choice of title insurance company, provides that it is the public policy of the State that parties to a contract for the sale of residential real property who are obligated to pay for certain products and services related to title insurance (rather than title insurance) have the right to also choose the independent escrowee that will provide those products and services. Makes conforming changes. Provides that for a county with a population not less than 500,000, a transaction for the sale and purchase or residential real property, the title insurance company issuing the owner's title insurance policy shall issue the lender's title insurance policy for that transaction if the policy is required by the lender. Provides an exception to that if the buyer and seller agree otherwise or the buyer or seller is offered a discount of fees as an inducement to split the title insurance policies, unless the title insurance company issuing the owner's policy agrees to offer the same discount of fees.

TITLE INS-CHOICE OF COMPANY

Rep. Ann Williams [D]

Rep. Sam Yingling [D]

Date	Chamber	Action
2020-06-23	House	Rule 19(b) / Re-referred to Rules Committee
2020-02-11	House	To Commercial Law Subcommittee
2020-02-04	House	Assigned to Judiciary - Civil Committee
2019-03-29	House	Rule 19(a) / Re-referred to Rules Committee
2019-03-26	House	Added Co-Sponsor Rep. Sam Yingling
2019-02-15	House	To Commercial Law Subcommittee
2019-02-13	House	Assigned to Judiciary - Civil Committee
2019-02-01	House	Referred to Rules Committee
2019-02-01	House	First Reading
2019-01-30	House	Filed with the Clerk by Rep. Ann M. Williams

Chapter	Article	Section	Citation Type	Statute Text
215	155	18.1	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1604&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB1604.htm