Title 31 — Insurance and Securities.
94 chapters · 1,236 sections in this title.
D.C. Code § 31-5041.01 Definitions
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For the purpose of this chapter, the term: (1) “Abstract of title” means a written history, synopsis, or summary of the recorded instruments affecting a title to real property. (2) “Affiliate” means, with respect to a person, another person that directly, or indirectly through on…
D.C. Code § 31-5041.02 Licensing requirements
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(a) A person shall not act in the capacity of a title insurance producer and a title insurer shall not contract with any person to act in the capacity of a title insurance producer with respect to risks located in the District unless the person is licensed as a title insurance pr…
D.C. Code § 31-5041.03 Examination of operation of title insurance producers
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(a) The Commissioner, during normal business hours, may examine, audit, and inspect any and all books and records required and maintained by a title insurance producer; provided, that trust accounts maintained by attorneys shall be subject to any privilege permitted by law and pr…
D.C. Code § 31-5041.04 Record-retention requirements
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A title insurance producer shall maintain sufficient records of its affairs, including its escrow operations, if any, and escrow trust accounts, if any, so that the Commissioner may adequately ensure that the title insurance producer is in compliance with this chapter. The Commis…
D.C. Code § 31-5041.05 Policyholder treatment
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(a) Unless otherwise agreed upon in writing, if a title insurance commitment is issued before issuing an owners title insurance policy, the title insurance producer or insurer shall furnish the title insurance commitment no later than the time of closing. The commitment shall be …
D.C. Code § 31-5041.06 Conditions for providing escrow, settlement, closing, and indemnity deposit services
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(a) All funds deposited with the title insurance producer or insurer in connection with an escrow, settlement, closing, or indemnity deposit shall be submitted for collection to or deposited in a fiduciary trust account in accordance with Chapter 24 of Title 42 [§ 42-2401 et seq.…
D.C. Code § 31-5041.07 Prohibition of rebate and fee splitting
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(a) In a real or personal property transaction, a title insurance producer, a title insurer, or any employee or representative of a title insurance producer or a title insurer, shall not pay, allow, or give, or offer to pay, allow, or give, directly or indirectly, as an inducemen…
D.C. Code § 31-5041.08 Underwriting contract required with title insurer
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A person acting in the capacity of a title insurance producer shall not place business with a title insurer 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 particu…
D.C. Code § 31-5041.09 Penalties and liabilities
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(a) If the Commissioner determines that the title insurance producer 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 th…
D.C. Code § 31-5041.10 Violations of the Real Estate Settlement Procedures Act
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The Commissioner or Attorney General for the District of Columbia may bring an action to enjoin or seek remedies for violations of RESPA.
D.C. Code § 31-5041.11 Rules
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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.
D.C. Code § 31-5041.12 Applicability; construction
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(a) This chapter shall: (1) Apply to all persons engaged in the business of title insurance in the District; (2) Supplement the provisions of Chapter 11A of this title [§ 31-1131.01 et seq.]. (b) This chapter shall not: (1) Except as otherwise provided, limit the application of a…