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Pennsylvania Statutes Title 40 P.S. Insurance § 910-24. Agents; defined

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(a) A title insurance agent means an authorized person, firm, association, corporation, partnership or other legal entity, other than a bona fide employe of the title insurer, who on behalf of the title insurer performs the following acts, in conjunction with the issuance of a title insurance report or policy:

(1) determines insurability and issues title insurance reports or policies, or both, based upon the performance or review of a search, or an abstract of title; and

(2) performs one or more of the following functions:

(i) collects or disburses premiums, escrow or security deposits or other funds;

(ii) handles escrow, settlements or closings;

(iii) solicits or negotiates title insurance business; or

(iv) records closing documents.

The word “agent” shall not include approved attorneys, nor shall it include officers and salaried employes of any title insurance company authorized to do a title insurance business within this Commonwealth.

(b) Deleted.

Cite this article: - Pennsylvania Statutes Title 40 P.S. Insurance § 910-24. Agents; defined - last updated January 01, 2022 |

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