§ 26-23-324 — Favored title agent or insurer

(a) No producer or other person shall require in any
manner as a condition, agreement or understanding to selling or
furnishing any other person any loan or extension thereof,
credit, sale, property, contract, lease or service, that such
other person shall place any contract of title insurance of any
kind through any particular title agent or title insurer. No
title agent or title insurer shall knowingly participate in any
such prohibited plan or transaction. No person shall fix a price
charged for such thing or service, or discount from or rebate
upon price, on the condition, agreement or understanding that
any title insurance is to be obtained through a particular title
agent or title insurer.
(b) Any producer or other person who violates this
section, or any title insurer or title agent who accepts an
order for title insurance knowing that it is in violation of
this section, in addition to any other action which may be taken
by the regulatory authority having jurisdiction, is subject to a
fine by the commissioner in an amount equal to five (5) times
the premium for the title insurance.
(c) The commissioner may invoke the aid of the courts in
enforcing any fines imposed under this section.