§ 27-7-3.6-1 — Title insurance enforcement fund established; uses of fund

Indiana § 27-7-3.6-1

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 7: SPECIAL TYPES OF INSURANCE
• Ch. 3.6: Title Insurance Enforcement Fund

Text

The title insurance enforcement fund is
established for the following purposes:
(1) To provide supplemental funding for department operations
that are related to title insurance, including any of the following:
(A) The investigation of any matter concerning title insurance
transactions in Indiana, to the extent necessary to determine
compliance with this title.
(B) Appropriate administrative and civil actions to redress
instances of noncompliance with this title.
(C) Cooperative efforts with federal, state, and local law
enforcement agencies in investigating the following:
(i) Deceptive acts in connection with title insurance
transactions.
(ii) Criminal violations involving deceptive acts in
connection with title insurance transactions.
(iii) Violations of the Real Estate Settlement Procedures Act
(12 U.S.C. 2601 et seq.) and any other federal laws or
regulations concerning title insurance transactions. To the
extent authorized by federal law, the department may enforce
compliance with the federal statutes or regulations described
in this item or refer suspected violations of the statutes or
regulations to the appropriate federal regulatory agencies.
(D) Actions to enjoin violations of 12 U.S.C. 2607, as permitted
under 12 U.S.C. 2607(d) and 12 U.S.C. 2614.
(2) To pay the costs of hiring and employing staff in the area of
enforcement of title insurance law.
(3) To provide funding for educational materials or services
designed to provide information to consumers about residential
title insurance transactions.

Legislative History

As added by P.L.171-2006, SEC.5. Amended by P.L.145-2008, SEC.32.