reglab/housing_qa huggingface dataset:
TX Ins Code § 2702.002 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2702 - Closing and Settlement|Subchapter A. Insured Closing and Settlement Letters|Section 2702.002. Insured Closing and Settlement Letter: Certain Buyers or Sellers

Sec. 2702.002.  INSURED CLOSING AND SETTLEMENT LETTER:  CERTAIN BUYERS OR SELLERS.  (a)  On written request, a title insurance company may issue to the buyer or seller of real property located in this state, the sales price of which exceeds the maximum covered claim specified by Chapter 2602, an insured closing and settlement letter in connection with the closing and settlement of the transaction by a title insurance agent or direct operation.  Only the title insurance company that is to issue an owner title insurance policy in connection with the transaction may issue the insured closing and settlement letter.(b)  An insured closing and settlement letter must be issued:(1)  at or before closing;  and(2)  in the form and manner prescribed by the commissioner.(c)  The commissioner may adopt a charge for the issuance of an insured closing and settlement letter under this section and prescribe the form and manner in which the charge must be made.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2702.003 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2702 - Closing and Settlement|Subchapter A. Insured Closing and Settlement Letters|Section 2702.003. Effect of Failure to Issue Insured Closing and Settlement Letter

Sec. 2702.003.  EFFECT OF FAILURE TO ISSUE INSURED CLOSING AND SETTLEMENT LETTER.  The failure of a title insurance company to issue an insured closing and settlement letter does not affect the company's liability under an issued title insurance policy.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2702.051 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2702 - Closing and Settlement|Subchapter B. Uniform Closing and Settlement Statements|Section 2702.051. Applicability

Sec. 2702.051.  APPLICABILITY.  This subchapter does not apply to the closing or settlement of:(1)  a residential real property transaction regulated by the Real Estate Settlement Procedures Act of 1974 (Pub.  L. No. 93-533);  or(2)  a real property transaction if the closing or settlement is not actually handled by:(A)  a title insurance company, a title insurance agent, or an attorney for a title insurance company or title insurance agent;  or(B)  a representative of a title insurance company, a title insurance agent, or an attorney for a title insurance company or title insurance agent.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2702.052 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2702 - Closing and Settlement|Subchapter B. Uniform Closing and Settlement Statements|Section 2702.052. Duty to Prescribe Uniform Closing and Settlement Statement Forms

Sec. 2702.052.  DUTY TO PRESCRIBE UNIFORM CLOSING AND SETTLEMENT STATEMENT FORMS.  (a)  The department, after notice and hearing, shall prescribe uniform closing and settlement statement forms to be used in connection with the closing and settlement of a transaction involving:(1)  the conveyance or mortgage of real property;  and(2)  the issuance of a title insurance policy by a title insurance company or title insurance agent.(b)  The department may prescribe separate forms under this section for transactions involving improved residential real property and for all other real property transactions.(c)  The department shall design the forms under this section to enable each party to the transaction to be provided with a dual or separate form identifying only the charges made to that party.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2702.053 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2702 - Closing and Settlement|Subchapter B. Uniform Closing and Settlement Statements|Section 2702.053. Content of Closing and Settlement Statement

Sec. 2702.053.  CONTENT OF CLOSING AND SETTLEMENT STATEMENT.  (a)  Each closing and settlement statement provided to a party to a transaction described by Section 2702.052(a) must state the name of any person receiving any amount from that party.(b)  Notwithstanding Subsection (a), the title insurance company or title insurance agent is required to include in the closing and settlement statement only those items of disbursement that are actually disbursed by the company or agent.(c)  If an attorney, other than a full-time employee of the title insurance company or title insurance agent, examines a title or provides any closing or settlement services, the closing and settlement statement must include:(1)  the amount of the fee for the services, shown as included in the premium;  and(2)  the name of the attorney or, if applicable, the name of the firm to which the fee was paid.(d)  The closing and settlement statement must conspicuously and clearly itemize the charges imposed on the party in connection with the closing and settlement.(e)  If a charge for title insurance is made to the party, the closing and settlement statement must state whether the title insurance premium included in the charge covers the mortgagee's interest in the real property, the borrower's interest, or both.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2702.054 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2702 - Closing and Settlement|Subchapter B. Uniform Closing and Settlement Statements|Section 2702.054. Use of Alternate Settlement Statement Form Permitted

Sec. 2702.054.  USE OF ALTERNATE SETTLEMENT STATEMENT FORM PERMITTED.  A title insurance company or title insurance agent may use the uniform settlement statement form prepared under the Real Estate Settlement Procedures Act of 1974 (Pub.  L. No. 93-533) instead of the uniform closing and settlement statement form prescribed by the department under this subchapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2702.101 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2702 - Closing and Settlement|Subchapter C. Advance Disclosure of Closing and Settlement Costs in Transactions Involving Residential Real Property|Section 2702.101. Applicability

Sec. 2702.101.  APPLICABILITY.  This subchapter does not apply to the closing or settlement of a real property transaction if the closing or settlement is not actually handled by:(1)  a title insurance company, a title insurance agent, or an attorney for a title insurance company or title insurance agent;  or(2)  a representative of a title insurance company, a title insurance agent, or an attorney for a title insurance company or title insurance agent.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2702.102 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2702 - Closing and Settlement|Subchapter C. Advance Disclosure of Closing and Settlement Costs in Transactions Involving Residential Real Property|Section 2702.102. Duty to Provide Advance Disclosure of Closing and Settlement Costs

Sec. 2702.102.  DUTY TO PROVIDE ADVANCE DISCLOSURE OF CLOSING AND SETTLEMENT COSTS.  (a)  Except as provided by Subsection (c), on the written request of the buyer, seller, or borrower before the closing and settlement of a transaction involving improved residential real property, a title insurance company or title insurance agent shall, in connection with the issuance of any kind of title insurance policy guaranteeing a lien on or the title to the property, provide to the requesting party an itemized disclosure of each charge to be made to that party that arises in connection with the closing and settlement.(b)  The itemized disclosure must be provided on a closing and settlement statement form prescribed or permitted under Subchapter B.(c)  The title insurance company or title insurance agent is required to provide the itemized disclosure only to the extent that information is available concerning each charge to be made to the party.  If information concerning a charge is not available, the title insurance company or title insurance agent shall:(1)  make a notation that the charge is to be made but that the information is not available or that the amount shown is an estimate of the charge;  and(2)  advise the party in writing as to the identity of the person or organization responsible for the charge.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2702.103 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2702 - Closing and Settlement|Subchapter C. Advance Disclosure of Closing and Settlement Costs in Transactions Involving Residential Real Property|Section 2702.103. Title Insurance Company or Title Insurance Agent Not Subject to Requirements Applicable to Lenders

Sec. 2702.103.  TITLE INSURANCE COMPANY OR TITLE INSURANCE AGENT NOT SUBJECT TO REQUIREMENTS APPLICABLE TO LENDERS.  (a)  Notwithstanding Section 2702.102, a title insurance company or title insurance agent is not required to disclose a cost or charge that a lender is required by law to disclose to a party.(b)  Section 2702.102 does not impose on a title insurance company or title insurance agent any obligation imposed on a lender by the Real Estate Settlement Procedures Act of 1974 (Pub.  L. No. 93-533).|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2703.001 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter A. General Provisions|Section 2703.001. Compliance With Title and Rules

Sec. 2703.001.  COMPLIANCE WITH TITLE AND RULES.  (a)  This section applies to a corporation organized under this title, a foreign corporation, and, to the extent that the corporation is engaged in the business of title insurance, a corporation organized under another law, including:(1)  Subdivision 57, Article 1302, Revised Statutes, before repeal of that statute;  and(2)  Chapter 861.(b)  A corporation operates in this state under the control and supervision of the commissioner and under uniform rules adopted by the commissioner relating to:(1)  forms of policies and underwriting contracts;(2)  premiums for those policies and contracts;  and(3)  underwriting standards and practices.(c)  With respect to real property located in this state, a corporation may not issue any kind of title insurance coverage, any kind of guarantee, or reinsurance of a risk assumed under a title insurance policy, except as provided by Section 2551.305 or 2551.3055, unless the corporation is authorized to engage in the business of title insurance under this title and otherwise complies with this title.  In engaging in the business of title insurance with respect to real property located in this state, the corporation shall comply with this title and rules described by Subsection (b), including when:(1)  issuing any kind of title insurance policy or an underwriting contract;(2)  reinsuring any portion of a risk assumed under a title insurance policy; and(3)  deleting a title insurance policy exclusion.(d)  Title insurance coverage, reinsurance, or a guarantee issued in violation of Subsection (c) is invalid.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2015, 84th Leg., R.S., Ch. 38 (S.B. 572), Sec. 4, eff. September 1, 2015.|
TX Ins Code § 2703.002 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter A. General Provisions|Section 2703.002. Use of Forms in General

Sec. 2703.002.  USE OF FORMS IN GENERAL.  A title insurance company or title insurance agent may not use a form required under this title to be prescribed or approved until the commissioner has prescribed or approved the form.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2703.003 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter A. General Provisions|Section 2703.003. Payment of Premiums

Sec. 2703.003.  PAYMENT OF PREMIUMS.  The premium for a title insurance policy or for another form prescribed or approved by the commissioner shall be paid in the due and ordinary course of business.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2703.051 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter B. Policy Provisions|Section 2703.051. Certain Provisions Required

Sec. 2703.051.  CERTAIN PROVISIONS REQUIRED.  A title insurance policy delivered or issued for delivery in this state to insure an owner of real property must include certain provisions, the form and content of which shall be prescribed by the commissioner, in accordance with this subchapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2703.0515 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter B. Policy Provisions|Section 2703.0515. Certain Requirements Prohibited

Sec. 2703.0515.  CERTAIN REQUIREMENTS PROHIBITED.  (a)  A title insurance company is not required to offer or provide in connection with a title insurance policy an endorsement insuring a loss from damage resulting from the use of the surface of the land for the extraction or development of coal, lignite, oil, gas, or another mineral if the policy includes a general exception or exclusion from coverage a loss from damage resulting from the use of the surface of the land for the extraction or development of coal, lignite, oil, gas, or another mineral.(b)  In this section, "general exception or exclusion" means a provision in a title insurance policy or other title insuring form that provides that title insurance coverage under the policy or form:(1)  is subject to, and the title insurer does not insure title to, and excepts from the description of the covered property, coal, lignite, oil, gas, and other minerals in and under and that may be produced from the covered property, together with related rights, privileges, and immunities; or(2)  does not cover a lease, grant, exception, or reservation of coal, lignite, oil, gas, or other minerals, or related rights, privileges, and immunities, appearing in the public records.(c)  An additional premium or other amount may not be charged for an endorsement to a loan policy of title insurance if the endorsement:(1)  insures against loss from damage to improvements or permanent buildings located on land that results from the future exercise of any right existing on the date of the loan policy to use the surface of the land for the extraction or development of coal, lignite, oil, gas, or another mineral;(2)  expressly does not insure against loss resulting from subsidence; and(3)  was promulgated by the commissioner in calendar year 2009.|Added by Acts 2011, 82nd Leg., R.S., Ch. 1011 (H.B. 2408), Sec. 8, eff. September 1, 2011.|
TX Ins Code § 2703.052 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter B. Policy Provisions|Section 2703.052. Duty of Title Insurance Company

Sec. 2703.052.  DUTY OF TITLE INSURANCE COMPANY.  (a)  On a report to a title insurance company made by an insured after a title insurance policy has been issued that a lien, encumbrance, or title defect exists that is not excepted under the policy or otherwise excluded from coverage, the company shall promptly investigate to determine whether the lien or encumbrance is valid and not barred by statute or other law.(b)  A title insurance company that concludes that a valid lien or encumbrance that is not barred by statute or other law exists or that a title defect exists shall:(1)  institute all necessary legal proceedings to clear the title to the property;(2)  indemnify the insured according to the terms of the policy;(3)  reinsure at current value the title to the property without making exception to the lien, encumbrance, or defect or indemnify another insurer for reinsuring the title without making exception to the lien, encumbrance, or defect;(4)  secure a release of the lien, encumbrance, or defect;  or(5)  take a combination of the actions described by this subsection.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2703.053 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter B. Policy Provisions|Section 2703.053. Establishment of Standards and Schedules

Sec. 2703.053.  ESTABLISHMENT OF STANDARDS AND SCHEDULES.  The commissioner by rule shall establish standards and time schedules for implementing and handling claims by title insurance companies in accordance with this subchapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2703.054 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter B. Policy Provisions|Section 2703.054. Authority of Commissioner in Implementing Subchapter

Sec. 2703.054.  AUTHORITY OF COMMISSIONER IN IMPLEMENTING SUBCHAPTER.  (a)  The commissioner may adopt, by amendment to an owner title insurance policy or by separate endorsement to an owner title insurance policy, language to implement this subchapter in a manner consistent with the terms, provisions, conditions, and stipulations of the policy or the exceptions to coverage contained in the schedules to the policy.(b)  This subchapter does not prohibit the commissioner from adopting for use in this state one or more policies in a simplified, generally more understandable, and usable form.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2703.055 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter B. Policy Provisions|Section 2703.055. Requirement of Certain Provisions Prohibited

Sec. 2703.055.  REQUIREMENT OF CERTAIN PROVISIONS PROHIBITED.  The commissioner may not require by rule, or through adoption of a title insurance policy or other insuring form, that a title insurance policy delivered or issued for delivery in this state:(1)  insure against a loss that a person with an interest in real property sustains from damage to the property by reason of severance of minerals from the surface estate; or(2)  provide insurance as to ownership of minerals.|Added by Acts 2011, 82nd Leg., R.S., Ch. 1011 (H.B. 2408), Sec. 9, eff. September 1, 2011.|
TX Ins Code § 2703.056 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter B. Policy Provisions|Section 2703.056. Exceptions; Mineral Interests

Sec. 2703.056.  EXCEPTIONS; MINERAL INTERESTS.  (a)  Subject to the underwriting standards of the title insurance company, a title insurance company may in a commitment for title insurance or a title insurance policy include a general exception or a special exception to except from coverage a mineral estate or an instrument that purports to reserve or transfer all or part of a mineral estate.(b)  A reduction to, or credit on a premium charge for, a policy of title insurance or other insuring form may not be directly or indirectly based on an exclusion of, or general or special exception to, a mineral estate in the title insurance policy.(c)  The inclusion in a title insurance policy of a general exception or a special exception described by Subsection (a) does not create title insurance coverage as to the condition or ownership of the mineral estate.|Added by Acts 2011, 82nd Leg., R.S., Ch. 1011 (H.B. 2408), Sec. 9, eff. September 1, 2011.|
TX Ins Code § 2703.151 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter D. Fixing and Promulgating Premium Rates|Section 2703.151. Fixing and Promulgating Premium Rates

Sec. 2703.151.  FIXING AND PROMULGATING PREMIUM RATES.  (a)  Except as provided by Subsection (b), the commissioner shall fix and promulgate the premium rates to be charged by a title insurance company or by a title insurance agent for title insurance policies or for other forms prescribed or approved by the commissioner.(b)  The commissioner may not fix or promulgate the premium rates for reinsurance between title insurance companies.  Title insurance companies may establish the premium rates in amounts to which the companies agree.(c)  Except for a premium charged for reinsurance, a premium may not be charged for a title insurance policy or for another prescribed or approved form at a rate different than the rate fixed and promulgated by the commissioner.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2703.152 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter D. Fixing and Promulgating Premium Rates|Section 2703.152. Factors Considered in Fixing Premium Rates

Sec. 2703.152.  FACTORS CONSIDERED IN FIXING PREMIUM RATES.  (a)  In fixing premium rates, the commissioner shall consider all relevant income and expenses of title insurance companies and title insurance agents attributable to engaging in the business of title insurance in this state.(b)  The premium rates fixed by the commissioner must be:(1)  reasonable as to the public;  and(2)  nonconfiscatory as to title insurance companies and title insurance agents.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2703.201 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle E - The Business of Title Insurance|Chapter 2703 - Policy Forms and Premium Rates|Subchapter E. Procedures Regarding Premium Rates, Policy Forms, and Other Related Matters|Section 2703.201. Hearing Required for Fixing Premium Rate

Sec. 2703.201.  HEARING REQUIRED FOR FIXING PREMIUM RATE.  Before a premium rate may be fixed and a premium charged, the department must provide reasonable notice and a hearing must be afforded to title insurance companies, title insurance agents, and the public.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|