Requiring title agents to make their audit reports available for inspection instead of submitting such reports annually, requiring the amount of surety bonds filed with the commissioner of insurance to be $100,000 and eliminating the controlled business exemption in certain counties.

Summary

The bill changes how title insurance agents handle oversight and financial security. It stops the annual filing of audit reports, requiring agents to supply the reports to the commissioner of insurance whenever asked. It also sets a $100,000 minimum for surety bonds or irrevocable letters of credit and eliminates a previously existing controlled‑business exemption in certain counties.

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