IL HB5986 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on November 5 2018 - 25% progression
Action: 2018-11-07 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Title Insurance Act. Provides that the Secretary of Financial and Professional Regulation also may refuse to grant and may suspend or revoke a certificate of authority, registration, or license issued under the Act or impose a fine if the Secretary determines that the holder of or applicant for a certificate of authority, registration, or license: (1) is both a holder of a registration as a title insurance agent and a licensed real estate agent or licensed real estate broker and has acted as a licensed real estate agent or licensed real estate broker for any party to a real property transaction in which the person has also acted as a registered title insurance agent or (2) is both a holder of a registration as a title insurance agent and a loan originator, mortgage loan originator, loan officer, or a Nationwide Mortgage Licensing System and Registry license holder and has acted as a loan originator, mortgage loan originator, loan officer, or a Nationwide Mortgage Licensing System and Registry license holder for any party to a real property transaction in which the person has also acted as a registered title insurance agent. Effective immediately.

Tracking Information

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Title

TITLE INS-ATTORNEY

Sponsors


History

DateChamberAction
2018-11-07HouseReferred to Rules Committee
2018-11-07HouseFirst Reading
2018-11-05HouseFiled with the Clerk by Rep. Jeanne M Ives

Code Citations

ChapterArticleSectionCitation TypeStatute Text
21515521Amended CodeCitation Text

Illinois State Sources


Bill Comments

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