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Texas Insurance Code - INS § 2652.1511. Appointment of Escrow Officer

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) An escrow officer may be employed and appointed by more than one title insurance agent or direct operation.

(b) Before an escrow officer may act in that capacity for a title insurance agent or direct operation, the title insurance agent or direct operation must appoint the escrow officer and file the escrow officer's appointment with the department on the electronic or nonelectronic form provided by the department.

(c) The appointment form must:

(1) be accompanied by a nonrefundable appointment fee;

(2) certify that:

(A) the escrow officer is a bona fide employee of the title insurance agent or direct operation making the appointment;  and

(B) the title insurance agent or direct operation has an office in this state;

(3) be signed and sworn to by the title insurance agent or direct operation and by the escrow officer;  and

(4) acknowledge that the escrow officer is covered by a surety bond or deposit required under Subchapter C.

(d) The appointment of the escrow officer expires on the revocation, termination, or nonrenewal of the escrow officer's license or termination of the escrow officer's employment with the title insurance agent or direct operation that made the appointment.

(e) Unless otherwise notified by the department, the escrow officer may act as an escrow officer for the appointing title insurance agent or direct operation after:

(1) the second business day after the date the appointment is submitted to the department electronically;  or

(2) the eighth business day after the date the appointment is submitted to the department on a nonelectronic form.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2652.1511. Appointment of Escrow Officer - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2652-1511/

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