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CS/SB 758: Title Insurer Reserves

GENERAL BILL by Banking and Insurance ; Lee

Title Insurer Reserves; Specifying that a title insurer is liable for all of its unpaid losses and claims; revising and specifying the reserves certain title insurers must set aside; specifying how such reserves will be released; specifying which state law governs the amount of the reserve when a title insurer transfers its domicile to this state, etc.

Effective Date: Upon becoming a law
Last Action: 5/1/2014 Senate - Laid on Table, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 805 (Ch. 2014-132) -SJ 938
Bill Text: Web Page | PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Commerce and Tourism (CM)

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  • Bill History

    Date Chamber Action
    1/27/2014 Senate • Filed
    2/6/2014 Senate • Referred to Banking and Insurance; Commerce and Tourism -SJ 61
    2/28/2014 Senate • On Committee agenda-- Banking and Insurance, 03/05/14, 1:30 pm, 110 Senate Office Building
    3/4/2014 Senate • Introduced -SJ 61
    3/5/2014 Senate • CS by Banking and Insurance; YEAS 11 NAYS 0 -SJ 207
    3/6/2014 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    3/10/2014 Senate • Now in Commerce and Tourism -SJ 207
    • CS by Banking and Insurance read 1st time -SJ 223
    3/26/2014 Senate • On Committee agenda-- Commerce and Tourism, 03/31/14, 4:00 pm, 110 Senate Office Building
    3/31/2014 Senate • Favorable by- Commerce and Tourism; YEAS 8 NAYS 0 -SJ 355
    4/1/2014 Senate • Placed on Calendar, on 2nd reading -SJ 355
    4/21/2014 Senate • Placed on Special Order Calendar, 04/24/14
    4/24/2014 Senate • Retained on Special Order Calendar -SJ 620
    5/1/2014 Senate • Read 2nd time -SJ 938
    • Substituted CS/CS/HB 805 -SJ 938
    • Laid on Table, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 805 (Ch. 2014-132) -SJ 938

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  • CS/SB 758, Committee Substitute 1 (Current Bill Version) Posted 4/7/2014 at 11:53 AM

    Bill Text:   Web Page | PDF
    Analyses:   Commerce and Tourism (Pre-Meeting) 3/28/2014 (pdf)
    Commerce and Tourism (Post-Meeting) 3/31/2014 (pdf)

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 321 (er) Title Insurance Passidomo Compare Last Action: 6/13/2014 Chapter No. 2014-112, companion bill(s) passed, see CS/CS/HB 805 (Ch. 2014-132)
    Location: Became Law
    H 805 (er) Title Insurer Reserves Moraitis Compare Last Action: 6/13/2014 Chapter No. 2014-132, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112), HB 5601 (Ch. 2014-38)
    Location: Became Law
    S 570 (c2) Title Insurance Galvano Compare Last Action: 4/3/2014 S Laid on Table, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 805 (Ch. 2014-132) -SJ 433
    Location: Laid on Table

    Floor Amendments (2)

    Amendment Sponsor Filed Last Floor Action Format
    765596 - Amendment
    Before line 16 insert:
    Lee 4/23/2014
    4:47 PM
    Senate: Withdrawn
    5/1/2014
    Web Page
    PDF
    388264 - Amendment
    Delete lines 225 - 236 and insert:
    Lee 4/23/2014
    4:46 PM
    Senate: No Action
    5/1/2014
    Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    3/31/2014 4:00 PM Commerce and Tourism 8 Yeas - 0 Nays

    Citations - Statutes (4)

    Citation Catchline Location in Bill Location In Bill Help
    624.407 Surplus required; new insurers. Page 10 (pdf)
    624.408 Surplus required; current insurers. Page 10 (pdf)
    625.041 Liabilities, in general. Page 1 (pdf)
    625.111 Title insurance reserve. Page 3 (pdf)

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  • SB 758, Original Filed Version Posted 1/27/2014 at 3:23 PM

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Pre-Meeting) 3/3/2014 (pdf)
    Banking and Insurance (Post-Meeting) 3/6/2014 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 805 Title Insurance Moraitis Similar Last Action: 6/13/2014 Chapter No. 2014-132, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112), HB 5601 (Ch. 2014-38)
    Location: Became Law

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    201870 - Amendment
    Delete lines 64 - 87 and insert:
    Banking and Insurance
    (Lee)
    3/3/2014
    4:22 PM
    Replaced by Committee Substitute
    3/5/2014
    Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    3/5/2014 1:30 PM Banking and Insurance 11 Yeas - 0 Nays

    Citations - Statutes (4)

    Citation Catchline Location in Bill Location In Bill Help
    624.407 Surplus required; new insurers. Page 10 (pdf)
    624.408 Surplus required; current insurers. Page 10 (pdf)
    625.041 Liabilities, in general. Page 1 (pdf)
    625.111 Title insurance reserve. Page 3 (pdf)

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