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§ 910-24. Agents; defined

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. InsuranceEffective: September 9, 2002

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 P.S. Insurance (Refs & Annos)
Chapter 2. Insurance Companies (Refs & Annos)
Article VII. Title Insurance Companies (Refs & Annos)
Effective: September 9, 2002
40 P.S. § 910-24
§ 910-24. Agents; defined
Currentness
(a) A title insurance agent means an authorized person, firm, association, corporation, partnership or other legal entity, other than a bona fide employe of the title insurer, who on behalf of the title insurer performs the following acts, in conjunction with the issuance of a title insurance report or policy:
(1) determines insurability and issues title insurance reports or policies, or both, based upon the performance or review of a search, or an abstract of title; and
(2) performs one or more of the following functions:
(i) collects or disburses premiums, escrow or security deposits or other funds;
(ii) handles escrow, settlements or closings;
(iii) solicits or negotiates title insurance business; or
(iv) records closing documents.
The word “agent” shall not include approved attorneys, nor shall it include officers and salaried employes of any title insurance company authorized to do a title insurance business within this Commonwealth.
(b) Deleted.

Credits

1921, May 17, P.L. 682, art. VII, § 724, added 1963, Aug. 14, P.L. 922, § 3. Amended 1995, Dec. 21, P.L. 714, No. 79, § 5, effective in 60 days; 2002, July 10, P.L. 749, No. 110, § 4, effective in 60 days.
40 P.S. § 910-24, PA ST 40 P.S. § 910-24
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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