On Apr. 16, OKL LEG passed bill re title insurance copy requests.
OKL LEG passed Bill HB 1506 to amend OKL INS 36-5001 on issuance of policies.
Directs title insurance producer and title insurer to provide requested copies for free.
Insured individuals muse be provided with a copy of the schedules from any previously issued owner's policy at no charge within three business days upon document request.
Legislative History
On Feb. 6, 2023, bill introduced in House; on Mar. 6, 2024, bill was passed in House.
On Mar. 7, 2024, bill introduced in Senate; on Apr. 15, 2024, bill was passed in Senate.
On Apr. 16, 2024 bill returned to House; on Apr. 16, bill sent to governor for action.
Effectiveness
Act becomes effective as of Nov. 1, 2024.
Apr. 18, 2024 Governor Approval
On Apr. 18, 2024, OKL LEG reported governor approved HB 1506, effect Nov. 1, 2024.
Regulators
OKL LEG
Entity Types
CNSM; IB; Ins
Reference
Bill, 4/18/2024; Bill, HB1506, 4/16/2024; Citation: OKL INS 36-5001;
