Senate Bill sb1080

    Florida Senate - 2004                                  SB 1080

    By Senator Fasano





    11-255-04

  1                      A bill to be entitled

  2         An act relating to title insurance; amending s.

  3         627.782, F.S.; providing that the premium

  4         charged for title insurance on a refinanced

  5         mortgage may not exceed the amount of the title

  6         insurance premium for the original mortgage;

  7         providing an effective date.

  8  

  9  Be It Enacted by the Legislature of the State of Florida:

10  

11         Section 1.  Subsection (9) is added to section 627.782,

12  Florida Statutes, to read:

13         627.782  Adoption of rates.--

14         (9)  The premium charged for title insurance required

15  for or obtained in conjunction with refinancing an existing

16  mortgage may not exceed the amount of the premium for the

17  original title insurance on the mortgage being refinanced when

18  such original title insurance was obtained from the same

19  insurer.

20         Section 2.  This act shall take effect July 1, 2004.

21  

22            *****************************************

23                          SENATE SUMMARY

24    Provides that the premium charged for title insurance on
      a refinanced mortgage may not exceed the amount of the
25    premium for such insurance on the original mortgage.

26  

27  

28  

29  

30  

31  

                                  1

CODING: Words stricken are deletions; words underlined are additions.