reglab/housing_qa huggingface dataset:
TX Ins Code § 2651.013 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.013. Division of Premium Held in Trust; Rules

Sec. 2651.013.  DIVISION OF PREMIUM HELD IN TRUST; RULES.  (a)  The funds held by a title insurance agent that are owed to a title insurance company, another title insurance agent, or a direct operation arising from a division of premium, whether as determined under rules adopted by the commissioner or by agreement among the parties, are considered to be held in trust for the title insurance company, other title insurance agent, or direct operation.(b)  This section does not require, and the commissioner may not require by rule, that funds described by Subsection (a) be held in a separate account subject to an external audit.  This section does not affect the department's or association's authority to examine or audit a title agent or direct operation.|Added by Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338), Sec. 14, eff. September 1, 2009.|
TX Ins Code § 2651.051 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter B. Direct Operation License|Section 2651.051. License Required

Sec. 2651.051.  LICENSE REQUIRED.  (a)  A title insurance company may not own or lease and operate an abstract plant or participate in a bona fide joint abstract plant operation in a county in this state unless the company holds a license as a direct operation issued by the department for that county.(b)  A title insurance company may not write, sign, or deliver title insurance in a county in which the company operates an abstract plant until the department has issued a direct operation license to the company.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.052 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter B. Direct Operation License|Section 2651.052. License Application

Sec. 2651.052.  LICENSE APPLICATION.  (a)  Before a direct operation license is issued to a title insurance company, the company must file an application for a direct operation license on forms provided by the department.(b)  The application must be:(1)  accompanied by a nonrefundable license fee;  and(2)  signed and sworn to by the title insurance company.(c)  The completed application must state that:(1)  the title insurance company is a Texas corporation or a foreign corporation holding a certificate of authority to insure titles to real property in this state and meets the requirements of this title;  and(2)  the abstract plant to be licensed:(A)  complies with department requirements relating to abstract plants;  and(B)  has been approved by the department.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.053 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter B. Direct Operation License|Section 2651.053. License and Renewal Fees

Sec. 2651.053.  LICENSE AND RENEWAL FEES.  (a)  The department shall prescribe the license fee in an amount not to exceed $50.(b)  License fees, and renewal fees collected under this subchapter, shall be deposited to the credit of the Texas Department of Insurance operating account to be used by the department to enforce this chapter and the laws of this state that regulate title insurance agents and title insurance companies.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.054 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter B. Direct Operation License|Section 2651.054. License Term

Sec. 2651.054.  LICENSE TERM.  Unless a system of staggered license renewal is adopted, a license issued under this subchapter expires on the second June 1 following the date of issuance.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.055 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter B. Direct Operation License|Section 2651.055. License Renewal

Sec. 2651.055.  LICENSE RENEWAL.  (a)  On or before the expiration date of a license issued under this subchapter, a title insurance company may renew the license by:(1)  certifying to the department each county and address at which the company operates the abstract plant for each license to be renewed;(2)  filing a completed renewal application;  and(3)  paying a nonrefundable license renewal fee for each license.(b)  The department shall provide the forms used under this section.(c)  The department shall prescribe the license renewal fee in an amount not to exceed $50.(d)  If a license has been expired for 90 days or less, the license holder may renew the license by paying to the department the required nonrefundable renewal fee and a nonrefundable fee equal to one-half of the original license fee.(e)  If a license has been expired for more than 90 days, the license may not be renewed.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.056 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter B. Direct Operation License|Section 2651.056. Ceasing Operation of Abstract Plant; Request for License Cancellation

Sec. 2651.056.  CEASING OPERATION OF ABSTRACT PLANT;  REQUEST FOR LICENSE CANCELLATION.  If a title insurance company ceases to operate a licensed abstract plant, the company shall immediately notify the department in writing and request cancellation of the license.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.057 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter B. Direct Operation License|Section 2651.057. Automatic Termination of Licenses

Sec. 2651.057.  AUTOMATIC TERMINATION OF LICENSES.  If a title insurance company surrenders the company's certificate of authority or if the certificate of authority is revoked by the department, all licenses of the company's abstract plants automatically terminate.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.058 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter B. Direct Operation License|Section 2651.058. Records of Direct Operations

Sec. 2651.058.  RECORDS OF DIRECT OPERATIONS.  The department shall maintain a record of the county and address of each location at which a title insurance company operates an abstract plant in a manner that ensures that the abstract plants may be conveniently ascertained and inspected by any person on request.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.059 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter B. Direct Operation License|Section 2651.059. Use of Agents Not Prohibited

Sec. 2651.059.  USE OF AGENTS NOT PROHIBITED.  This subchapter does not prohibit a title insurance company from issuing title insurance through a licensed title insurance agent.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.101 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter C. Bond and Deposit Requirements|Section 2651.101. Bond Required

Sec. 2651.101.  BOND REQUIRED.  (a)  Each licensed title insurance agent and direct operation shall make, file, and pay for a surety bond payable to the department and issued by a corporate surety company authorized to write surety bonds in this state.  The bond shall obligate the principal and surety to pay for any pecuniary loss sustained by:(1)  any participant in an insured real property transaction through an act of fraud, dishonesty, theft, embezzlement, or wilful misapplication by a title insurance agent or direct operation;  or(2)  the department as a result of any administrative expense incurred in a receivership of a title insurance agent or direct operation.(b)  The amount of the bond must be the greater of:(1)  $10,000;  or(2)  an amount equal to 10 percent of the gross premium written by the title insurance agent or direct operation in accordance with the latest statistical report to the department but not to exceed $100,000.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.102 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter C. Bond and Deposit Requirements|Section 2651.102. Alternative to Bond

Sec. 2651.102.  ALTERNATIVE TO BOND.  (a)  Instead of the bond required by Section 2651.101, a title insurance agent or direct operation may deposit with the department:(1)  cash;(2)  irrevocable letters of credit issued by a financial institution in this state that is insured by an agency of the United States;  or(3)  securities approved by the department.(b)  The cash, letters of credit, or securities deposited under this section are subject to the conditions required for a bond under Section 2651.101.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.103 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter C. Bond and Deposit Requirements|Section 2651.103. Examination of Loss Covered by Bond or Deposit

Sec. 2651.103.  EXAMINATION OF LOSS COVERED BY BOND OR DEPOSIT.  (a)  At any time it appears that a loss covered by a bond or deposit has occurred, the department may require the title insurance agent or direct operation to appear in Travis County, with records the department determines to be proper, for an examination.(b)  The department shall specify a date for the examination that is not earlier than the 10th day or later than the 15th day after the date of service of notice of the requirement to appear.(c)  If after the examination the department determines that a loss covered by the bond or deposit has occurred, the department shall immediately notify the surety on the bond, if applicable, and prepare a written statement of the facts of the loss and deliver the statement to the attorney general.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.104 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter C. Bond and Deposit Requirements|Section 2651.104. Investigation by Attorney General

Sec. 2651.104.  INVESTIGATION BY ATTORNEY GENERAL.  (a)  On receipt of a written statement under Section 2651.103, the attorney general shall investigate the charges and, on determining that a loss covered by the bond or deposit has occurred, shall enforce the liability by collecting against the deposited cash or securities or by filing suit on the bond.(b)  A suit brought under this section shall be filed in the name of the department in Travis County for the benefit of all parties who have suffered any loss covered by the bond or deposit.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.151 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter D. Annual Audit|Section 2651.151. Annual Audit of Trust Fund Accounts: Title Insurance Agents and Direct Operations

Sec. 2651.151.  ANNUAL AUDIT OF TRUST FUND ACCOUNTS:  TITLE INSURANCE AGENTS AND DIRECT OPERATIONS.  (a)  Each title insurance agent and direct operation shall have an annual audit made of trust fund accounts.  The agent or direct operation shall pay for the audit.(b)  Not later than the 90th day after the date of the end of the agent's or direct operation's fiscal year, the agent or direct operation shall send by certified mail, postage prepaid, to the department one copy of the audit report with a transmittal letter.  The agent shall also send a copy of the audit report and transmittal letter to each title insurance company that the agent represents.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.152 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter D. Annual Audit|Section 2651.152. Annual Audit of Trust Fund Accounts: Title Insurance Companies

Sec. 2651.152.  ANNUAL AUDIT OF TRUST FUND ACCOUNTS:  TITLE INSURANCE COMPANIES.  (a)  Each title insurance company shall have an annual audit made of trust fund accounts for each county in which it operates in its own name.  The company shall pay for the audit.(b)  Not later than the 90th day after the date of the end of the title insurance company's fiscal year, the company shall send by certified mail, postage prepaid, to the department one copy of the audit report.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.153 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter D. Annual Audit|Section 2651.153. Rules

Sec. 2651.153.  RULES.  The commissioner by rule shall adopt:(1)  the standards for an audit;  and(2)  the form of the required audit report.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.154 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter D. Annual Audit|Section 2651.154. Performance of Audit by Public Accountant

Sec. 2651.154.  PERFORMANCE OF AUDIT BY PUBLIC ACCOUNTANT.  An audit required under this subchapter must be performed by an independent certified public accountant or licensed public accountant, or a firm composed of either.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.155 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter D. Annual Audit|Section 2651.155. Confidentiality of Audit

Sec. 2651.155.  CONFIDENTIALITY OF AUDIT.  The commissioner may classify an audit report that is filed with the department by a title insurance company under this subchapter as confidential and privileged.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.156 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter D. Annual Audit|Section 2651.156. Failure to Receive Audit Report From Agents or Direct Operations

Sec. 2651.156.  FAILURE TO RECEIVE AUDIT REPORT FROM AGENTS OR DIRECT OPERATIONS.  If a title insurance company fails to receive an audit report from any of the company's agents or direct operations in the specified period required by Section 2651.151, the company shall report that failure to the department not later than the 30th day after the expiration of the specified period.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.157 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter D. Annual Audit|Section 2651.157. Enforcement; Hearing

Sec. 2651.157.  ENFORCEMENT;  HEARING.  (a)  After notice and hearing, the department may revoke the license or certificate of authority of a title insurance agent, direct operation, or title insurance company that:(1)  fails to furnish an audit report in the time required;  or(2)  furnishes an audit report that reveals any irregularity, including a shortage, or any practice not in keeping with sound, honest business practices.(b)  The notice must be provided to the agent, the direct operation, or each title insurance company involved.(c)  At a hearing under this section, the agent, direct operation, or title insurance company may offer evidence explaining or excusing a failure or irregularity.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.158 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter D. Annual Audit|Section 2651.158. Certification of Unencumbered Assets

Sec. 2651.158.  CERTIFICATION OF UNENCUMBERED ASSETS.  (a)  Unless the agent has elected to make a deposit with the department under Section 2651.012(f), the annual audit of escrow accounts must be accompanied by a certification by the title insurance agent or direct operation that the title insurance agent has the appropriate unencumbered assets in excess of liabilities, exclusive of the value of its abstract plants, as required by Section 2651.012.(b)  The commissioner by rule shall establish  the method by which the certification required by this section must be made, which shall not include an audit of operating accounts or a certification by a certified public accountant.|Added by Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338), Sec. 15, eff. September 1, 2009.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 536 (H.B. 2604), Sec. 4, eff. June 17, 2011.|
TX Ins Code § 2651.201 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter E. General Regulation of Title Insurance Agents and Direct Operations|Section 2651.201. License Surrender or Forfeiture

Sec. 2651.201.  LICENSE SURRENDER OR FORFEITURE.  (a)  A title insurance agent or direct operation may voluntarily surrender at any time a license issued under this chapter by giving notice to:(1)  the department;  and(2)  the affected title insurance company.(b)  A title insurance agent or direct operation that terminates the agency contract with a title insurance company automatically forfeits the license under that company.(c)  A surrender or forfeiture of a license under this section does not affect the culpability of the license holder for conduct committed before the effective date of the surrender or forfeiture.  The department may institute a disciplinary proceeding against the former license holder for conduct committed before the effective date of the surrender or forfeiture.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.202 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter E. General Regulation of Title Insurance Agents and Direct Operations|Section 2651.202. Trust Fund Account Disbursements

Sec. 2651.202.  TRUST FUND ACCOUNT DISBURSEMENTS.  (a)  A title insurance company, title insurance agent, or direct operation may not disburse funds from a trust fund account until good funds related to the transaction have been received and deposited in the account in amounts sufficient to fund any disbursements from the transaction.(b)  A title insurance company, title insurance agent, or direct operation is not liable for a violation of this section if the violation:(1)  was not intentional;  and(2)  resulted from a bona fide error despite the maintenance of procedures reasonably adopted to avoid the error.(c)  The commissioner shall adopt rules and definitions to implement this section.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.203 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter E. General Regulation of Title Insurance Agents and Direct Operations|Section 2651.203. Disclosure of Ownership and Premium Information

Sec. 2651.203.  DISCLOSURE OF OWNERSHIP AND PREMIUM INFORMATION.  (a)  A title insurance agent who receives a portion of a premium shall disclose to each purchaser of a title insurance policy or other title insurance form the following:(1)  each shareholder, owner, or partner owning or controlling at least one percent of the agent;(2)  each shareholder, owner, or partner owning or controlling at least 10 percent of an entity that owns or controls at least one percent of the agent;(3)  each person who is not a full-time employee of the agent and who receives a portion of the premium for services performed on behalf of the agent in connection with the issuance of a title insurance form;  and(4)  the amount of premium that a person disclosed in Subdivision (3) receives.(b)  The department shall prescribe the form of the disclosure required by this section.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|