11 CRR-NY 35.6NY-CRR
11 CRR-NY 35.6
11 CRR-NY 35.6
35.6 Disclosure of fees and other charges.
(a)
(1) Every title insurance corporation shall publish on its website its range of charges for title insurance and any ancillary or other discretionary fees for services related to the title transaction that are not otherwise included in the rate of premium approved by the superintendent. The range of charges and fees shall be publicly available and accessible in a manner that permits an applicant or potential applicant to independently determine the applicable charges.
(2) Every title insurance agent shall conspicuously post at its place of business and on its website, if it has one, its fees for services performed in connection with the issuance of a title insurance policy. The title insurance agent shall also provide a copy of the fees to an applicant or potential applicant in a written document. Pursuant to Insurance Law section 2119(f), a title insurance agent may charge a service fee only for ancillary services not encompassed in the rate of premium approved by the superintendent and provided that the fees are based upon a written memorandum in accordance with such section and section 20.6 of this Title.
(b) At or prior to the time of closing, a title insurance agent shall provide to the applicant, or the applicant’s representative, a list of the applicant’s actual title insurance costs, including the title insurance premium, any discretionary or ancillary fees, and any other separately identifiable service charge. If no title insurance agent is used, then the title insurance corporation shall provide the information.
11 CRR-NY 35.6
Current through July 31, 2021
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