2005 Regular Session
To: Banking and Financial Services
By: Representative Snowden
AN ACT TO REQUIRE THE DISCLOSURE OF TITLE INSURANCE OPTIONS RELATED TO LOAN CLOSINGS IN THE SALE OF REAL PROPERTY; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Any person, firm, financial institution or corporation that offers title insurance related to a loan closing in the sale of real property shall inform the person considering the title insurance of all options which are available as to who issues the title insurance. Such disclosure shall identify the most cost-effective means available to the consumer.
SECTION 2. This act shall take effect and be in force from and after July 1, 2005.