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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) In this section, “commitment for title insurance” means a title insurance form under which a title insurance company offers to issue a title insurance policy subject to stated exceptions, requirements, and terms. The term includes a mortgagee title policy binder on an interim construction loan.
(b) A commitment for title insurance constitutes a statement of the terms and conditions on which a title insurance company is willing to issue its policy. A title insurance policy or other title insurance form constitutes a statement of the terms and conditions of the indemnity under the policy or form.
(c) An abstract of title prepared from an abstract plant for a chain of title to real property described in the abstract of title is not title insurance, a commitment for title insurance, or any other title insurance form. A commitment for title insurance, title insurance policy, or other title insurance form is not an abstract of title.
(d) The commissioner may not adopt rules relating to abstracts of title.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 2701.001. Abstract of Title Distinguished; Prohibition on Regulation of Abstract of Title - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2701-001/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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