Illinois General Assembly - Bill Status for HB4941

Amends the Title Insurance Act. Provides for the licensure of title insurance agents (instead of registration of title insurance agents by title insurance companies). Makes changes in the definition of "financial interest". Defines "core title agent services". Sets forth requirements for licensure, including examination and educational requirements. Sets forth exemptions from the examination and educational requirements. Provides that it is unlawful for any person, firm, partnership, association, corporation, or other legal entity to act as or hold itself out to be a title insurance agent unless first procuring from the Secretary a license. Provides that no person, firm, association, partnership, or corporation may operate as a pre-licensing or continuing education provider or administer examinations unless the provider holds a certification issued by the Department of Financial and Professional Regulation. Sets forth provisions concerning the Department's approval of applications for a certificate. Makes other changes. Effective immediately.

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