Bill Text: CA AB762 | 2017-2018 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Title insurers: finances and investments.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2018-02-01 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB762 Detail]

Download: California-2017-AB762-Introduced.html

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CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Assembly Bill

No. 762

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Introduced by Assembly Member Waldron

February 15, 2017

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An act to amend Section 12340.1 of the Insurance Code, relating to insurance.

LEGISLATIVE COUNSEL'S DIGEST

AB 762, as introduced, Waldron. Title insurance.

Existing law defines title insurance as insuring, guaranteeing, or indemnifying an owner of real or personal property or the holder of liens or encumbrances or others who have interests in the property against loss or damage due to liens, encumbrances, or defects in the title to the insured property, defects in liens or encumbrances, or defects in title searches.

This bill would make technical, nonsubstantive changes to those provisions.

Digest Key

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

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Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 Section 12340.1 of the Insurance Code is amended to read:

12340.1.

 “Title insurance” means insuring, guaranteeing guaranteeing, or indemnifying owners of real or personal property or the holders of liens or encumbrances thereon or others interested therein against loss or damage suffered by reason of: of the following:

(a) Liens or encumbrances on, or defects in in, the title to said property; the property.

(b) Invalidity or unenforceability of any liens or encumbrances thereon; or on the property.

(c) Incorrectness of searches relating to the title to real or personal property.