NY Ins L § 2139 (2021)
2021 New York Laws ISC - Insurance Article 21 - Agents, Brokers, Adjusters, Consultants and Intermediaries 2139 - Title Insurance Agents; Licensing.

§  2139. Title insurance agents; licensing. (a) The superintendent may issue a license to any person, firm, association or corporation that has complied with the requirements of this chapter, authorizing the licensee to act as a title insurance agent  of  any  authorized  title  insurance corporation.  (b)  Any  such license issued to a firm or association shall authorize only the members thereof, named in such license as sub-licensees, to act individually as title insurance agents thereunder, and any such  license issued  to a corporation shall authorize only the officers and directors thereof, named in such license as sub-licensees, to act individually  as title  insurance  agents  thereunder. Every sub-licensee acting as title insurance agent pursuant to such a license shall be authorized so to act only in the name of the licensee. At least one  designated  sub-licensee must have a financial or other beneficial interest in the licensee.  (c)  Every  individual  applicant for a license under this section and every proposed licensee shall be eighteen years of age or older  at  the time of the issuance of such license.  (d)  Before  any  original  title insurance agent's license is issued, there  shall  be  on  file  in  the  office  of  the  superintendent  an application  by  the  prospective  licensee  in  such  form or forms and supplements thereto, along with a fee in the amount of forty dollars for each year or fraction of a year in which the license shall be valid, and containing information the superintendent prescribes.  (e) The superintendent shall, in order to determine the competency  of every  individual  applicant  and of every proposed sub-licensee for the title insurance agent license, require such individual to  submit  to  a personal written examination and to pass the same to the satisfaction of the  superintendent.  The  examination  shall  be held at such times and places as the superintendent shall from time to  time  determine.  Every individual  applying  to take any written examination shall, at the time of applying therefor, pay to the superintendent or, at the discretion of the superintendent, directly to any organization that is under  contract to provide examination services, an examination fee of an amount that is the  actual documented administrative cost of conducting said qualifying examination as certified by the superintendent from  time  to  time.  An examination  fee  represents  an administrative expense and shall not be refundable.  The  superintendent  may  accept,  in  lieu  of  any   such examination,  the  result  of any previous written examination, given by the  superintendent,  which  in  the   superintendent's   judgment,   is equivalent to the examination for which it is substituted.  (f)  Every  individual  seeking  to  qualify to obtain a license under subsection (b) of this section shall be required to  pass  the  type  or types  of  examination  prescribed  by the superintendent. An individual shall not be  deemed  qualified  to  take  the  examination  unless  the individual  has  successfully completed a course or courses, approved as to  method  and  content  by  the  superintendent,  covering  the  title insurance business and requiring not less than twenty hours of classroom work  or  the  equivalent in correspondence work or similar instruction. Such course or courses shall have been given by an  institution  meeting the  standards  prescribed  by  subparagraph  (A)  of  paragraph  one of subsection (c) of section two thousand one hundred four of this article.  (g) No such written examination or pre-licensing  education  shall  be required of any:  (1)  applicant  who files an application under this section within one year after the effective date of this subsection and who demonstrates to the satisfaction of  the  superintendent  that  such  applicant  or  its prospective   sub-licensee  has,  without  interruption,  regularly  and continuously performed the functions of a title insurance  agent  for  a  period  of  at least five years immediately preceding the filing of such application and is competent and trustworthy to act as a title insurance agent;  (2)  applicant  who  has  passed  the written examination given by the superintendent for a title insurance agent's license and was licensed as such, or of an applicant who was licensed as a title insurance agent but did not pass such an examination, provided the applicant applies  within two  years following the date of termination of the applicant's license; or  (3) applicant seeking to obtain a license as a title insurance  agent, when such applicant is a licensed attorney-at-law in this state provided that such attorney is in good standing with the New York state office of court administration.  (h)  The  superintendent  may  refuse to issue to an applicant a title insurance agent's license if,  in  the  superintendent's  judgment,  the proposed licensee or any sub-licensee:  (1) is not trustworthy and competent to act as such agent;  (2)  has  given  cause  for  the  revocation  or  suspension of such a license; or  (3) has failed to comply with any prerequisite  for  the  issuance  of such license.  (i)  (1)  Every  license  issued  to  a  business  entity  pursuant to subsection (a) of  this  section  shall  expire  on  June  thirtieth  of odd-numbered years.  (2) Every license issued to an individual born in an odd-numbered year shall  expire  on  the  individual's birthday in each odd-numbered year. Licenses issued to individuals born in even-numbered years shall  expire on the individual's birthday in each even-numbered year.  (3) Every license may be renewed for the ensuing period of twenty-four months  upon  the  filing  of  an  application  in  conformity with this subsection.  (4) The license may be issued for all of such two year terms, or  upon application made during any such term, for the balance thereof.  (5)  Any  license  shall  be  considered  in  good standing within the license term unless:  (A) revoked or  suspended  by  the  superintendent  pursuant  to  this article; or  (B)  if at the expiration date of the license term, the licensee fails to file a renewal application, provided the license was in good standing during the term.  (6) Before the renewal of any title insurance agent's license shall be issued, the licensee shall have:  (A) filed a completed renewal application in such form or  forms,  and supplements   thereto,   and   containing   such   information   as  the superintendent may prescribe; and  (B) paid such fees as are prescribed in this section.  (7) If an application for a renewal license shall have been filed with the superintendent before the  expiration  of  such  license,  then  the license  sought  to  be  renewed shall continue in full force and effect either until the issuance by the superintendent of the  renewal  license applied  for  or  until  five  days  after the superintendent shall have refused to issue such renewal license and shall  have  given  notice  of such  refusal to the applicant and to each proposed sub-licensee. Before refusing to renew any such license, except on the ground of  failure  to pass   a  written  examination,  the  superintendent  shall  notify  the applicant of the superintendent's intention to do so and shall give  the applicant a hearing.  (8)  The  superintendent  may,  in issuing a renewal license, dispense with the requirements  of  a  verified  application  by  any  individual licensee or sub-licensee who, by reason of being engaged in any military service  for  the  United States, is unable to make personal application for such renewal license, upon the filing of an application on behalf of such  individual, in such form as the superintendent shall prescribe, by some person or persons who in his or her judgment have knowledge of  the facts  and  who  make  affidavit  showing  such military service and the inability of such title insurance agent to make personal application.  (9) An individual licensee or sub-licensee who  is  unable  to  comply with  license renewal procedures due to other extenuating circumstances, such as a long-term medical disability, may request  a  waiver  of  such procedures,  in  such  form  as  the superintendent shall prescribe. The licensee or sub-licensee may also request a waiver  of  any  examination requirement  or any other fine or sanction imposed for failure to comply with renewal procedures.  (10) An application for the renewal of a license shall be  filed  with the  superintendent  not  less  than  sixty  days  prior to the date the license expires or the applicant shall be subject to a  further  fee  of ten dollars for late filing.  (11)  No  license  fee shall be required of any person who served as a member of the armed forces of the United States at any time, and who (A) shall  have  been  discharged  therefrom  under  conditions  other  than dishonorable,  or  (B) has a qualifying condition, as defined in section three hundred fifty of the executive law, and has received  a  discharge other  than  bad  conduct or dishonorable from such service, or (C) is a discharged LGBT veteran, as defined in section three  hundred  fifty  of the  executive  law, and has received a discharge other than bad conduct or dishonorable from such service, in a current licensing period for the duration of such period.  (12) Except where a corporation, association or  firm  licensed  as  a title  insurance  agent is applying to add a sub-licensee or the date of the expiration of the license is changed, there shall be no fee required for the issuance of an amended license.  (13)  The  superintendent  may  issue  a  replacement  license  for  a currently  in-force license that has been lost or destroyed. Before such replacement license shall be issued, there  shall  be  on  file  in  the office  of the superintendent a written application for such replacement license, affirming under penalty of perjury that  the  original  license has been lost or destroyed, together with a fee of fifteen dollars.  (j)  The  superintendent  may  refuse  to  issue  a license or renewal license, as the case may be, to  any  applicant  if  the  superintendent finds that the applicant has been or will be:  (1)  receiving  any  benefit  or advantage in violation of section six thousand four hundred nine of this chapter; or  (2) acting in a manner inconsistent with:  (A)  regulations  by  the  superintendent  which  are  promulgated  in accordance  with  the  relevant  provisions  of  the federal real estate settlement procedures act of 1974, as amended; or  (B) section twenty-one hundred thirteen of this article.  (k) For the purposes of this chapter, any person or entity  performing any activity related to the procurement or issuance of a title insurance policy,  as  the  result  of an authorization or request from a licensed title agent or title insurance corporation,  shall  be  presumed  to  be acting  under  the  authority  of such licensed agent or title insurance corporation, for the purpose of performing such activity  so  authorized or requested.