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92_HB2207sam001
LRB9206526RCcdam01
1 AMENDMENT TO HOUSE BILL 2207
2 AMENDMENT NO. . Amend House Bill 2207 as follows:
3 on page 1, line 16, by changing "releases" to "payments"; and
4 on page 2, line 11, by inserting after "agent" the following:
5 ", or if the mortgagee or mortgage servicer does not provide
6 notice to the title insurance company or title insurance
7 agent that the amount received for a payoff was inadequate,";
8 and
9 on page 4, by replacing lines 25 through 27 with the
10 following:
11 "(c) A title insurance company may create an instrument,
12 executed by an officer of that company and acknowledged in
13 the same manner as a deed, appointing one or more title
14 insurance agents authorized to issue certificates of release
15 under this Act. This instrument shall designate the county
16 or counties in which it is to be effective and shall be
17 recorded with the recorder in each of those counties, either
18 as an original instrument or by recording a copy certified by
19 the recorder of one of the counties. A separate appointment
20 of title insurance agent"; and
21 on page 4, line 28, by deleting "each agent or"; and
-2- LRB9206526RCcdam01
1 on page 6, line 18, by inserting after "from....." the
2 following:
3 ", and there is no notice from the mortgagee or mortgage
4 servicer that the amount received was inadequate.".