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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 381

previous next Effective - 01 Jan 2008, see footnotebottom

  381.025.  Consideration for referrals, when, penalty. — 1.  As used in this section, the term "county" or "counties" includes any city not within a county.

  2.  Nothing in sections 381.011 to 381.412 shall be construed as prohibiting the division of premiums and charges between or among a title insurer and its title agent or agency, two or more title insurers, one or more title insurers and one or more title agents or agencies, or two or more title agents or agencies, provided such division of premiums and charges does not constitute a violation of the Real Estate Settlement Procedures Act, 12 U.S.C. Section 2601, et seq., as amended.

  3.  A violation of any provision under section 381.141* is a level three violation under section 374.049.

  4.  If the director fails to initiate a proceeding to enforce section 381.141* within forty-five days following receipt of written notice of such violation, any title insurer, title agency, or title agent doing business in the same county may maintain an action for injunctive relief against a title insurer, title agency, or title agent violating any provision of this section.  In any action under this subsection, the court may award to the successful party the court costs of the action together with reasonable attorney fees.

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(L. 2000 S.B. 894, A.L. 2007 S.B. 66)

Effective 1-01-08

*Section 381.141 was repealed by S.B. 894, 2000.  S.B. 894 was declared unconstitutional as a violation of the clear title requirement of Art. III, Sec. 23.


---- end of effective   01 Jan 2008 ----

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