Title 31, Insurance and Securities.

Before being licensed to do an insurance business in the District, a title insurer shall establish and maintain a minimum paid-in capital of not less than $500,000 and paid-in initial surplus of at least $500,000, for a total minimum capital and surplus total of at least $1 milli…

(a) The net retained liability of a title insurer for a single risk in regard to property, whether assumed directly or as reinsurance, shall not exceed the aggregate of 50% of surplus as regards policyholders, plus the statutory premium reserve less the company’s investment in ti…

In determining the financial condition of a domestic title insurer doing business under this chapter, the general investment provisions of the Chapter 13A of this title [§ 31-1371.01 et seq. ], shall apply; provided, that: (1) An investment in a title plant or plants in an amount…

(a) In determining the financial condition of a title insurer doing business under this chapter, the general provisions of the acts relating to insurance which are codified in this title requiring the establishment of reserves sufficient to cover all known and unknown liabilities…

(a) Except as otherwise provided in this section, the IRLA shall apply to all domestic title insurers subject to this chapter. In applying the provisions of the IRLA, the court shall consider the unique aspects of title insurance and shall have broad authority to fashion relief t…

A domestic title insurer shall only declare or distribute a dividend to shareholders without the prior written approval of the Commissioner as would be permitted under § 31-706, for insurers other than life insurers.

(a) Without the prior written approval of the Commissioner, a domestic title insurer shall not accept: (1) Additional business from a title insurance producer that is not an affiliated company with the insurer if, when added to other business written through the title insurance p…

(a) If a title insurance commitment includes an offer to issue an owner’s policy covering the resale of owner-occupied property, the title insurance commitment shall be furnished to the purchaser-mortgagor or its representative no later than the time of closing. If the report can…

(a) The title insurer shall not accept business from a title insurance producer unless there is in force a written contract between the parties which sets forth the responsibilities of each party and, if both parties share responsibility for a particular function, specifies the d…

(a) A title insurer may operate as an escrow, indemnity, settlement, or closing agent, if: (1) All funds deposited with the title insurer in connection with any escrow, settlement, closing, or indemnity deposit shall be submitted for collection to or deposited in a fiduciary trus…

A title insurer or other person shall not give or receive, directly or indirectly, any consideration for the referral of title insurance business or escrow or other service provided by a title insurer.

(a) A title insurer shall not participate in any transaction in which it knows that a title insurance producer or other person requires, directly or indirectly, or through any trustee, director, officer, producer, employee, or affiliate, as a condition precedent to selling or fur…

(a) A title insurer or title insurance producer may charge any rates regulated by the District of Columbia after January 1, 2011; provided, that in accordance with the premium rate schedule and manual filed by the title insurer with and approved by the Commissioner in accordance …

(a)(1) The Commissioner may require that all policy forms used by every company covering title risks in the District be filed with the Commissioner. The Commissioner shall have authority to disapprove, within 60 days after the date of the receipt of a filing, the use in the Distr…

(a) A title insurer may satisfy its obligation to file premium rates, rating manuals, and forms as required by this chapter if: (1) It becomes a member of, or a subscriber to, a rate service organization, organized and licensed under the provisions of acts relating to insurance w…

Evidence of the examination of title and determination of insurability for business written by a title insurer or title insurance producer and records relating to escrow and indemnity deposits shall be preserved and retained by the insurer or producer for as long as appropriate t…

(a) If the Commissioner determines that the title insurer or any other person has violated this chapter, or any rule or order promulgated under this chapter, after notice and opportunity to be heard, the Commissioner may order: (1) A penalty not exceeding $2,500 for the 1st viola…

The Commissioner or Attorney General may bring an action in a court of competent jurisdiction to enjoin or seek remedies for violations of the Real Estate Settlement Procedures Act of 1974, approved December 23, 1974 (88 Stat. 1724; 12 U.S.C. § 2601 et seq.).

(a) The Commissioner, through the Mayor, pursuant to subchapter I of Chapter 5 of Title 2 [§ 2-501 et seq.], may issue rules to implement the provisions of this chapter. (b) The Commissioner may issue orders to implement the provisions of this chapter.

(a) This chapter shall: (1) Apply to all persons engaged in the business of title insurance in the District; and (2) Supplement the provisions of Chapter 25 of this title [§ 31-2501.01 et seq.]. (b) This chapter shall not: (1) Except as otherwise provided, limit the application o…