House Sponsors: BUGIELSKI-HASSERT-FRITCHEY-MEYER. Senate Sponsors: WALSH,T-WALSH,L Short description: TITLE INSURANCE RATES Synopsis of Bill as introduced: Amends the Title Insurance Act. Provides that the Director of Financial Institutions shall prescribe policy forms, endorsements, and underwriting contracts. Requires the Director to establish the minimum rate for title insurance and escrow and settlement services. Authorizes the Director to collect a fee not exceeding 0.10% of gross title insurance premium on policies written in Illinois by all title insurers. Effective immediately. HOUSE AMENDMENT NO. 1. Authorizes the Director of Financial Institutions to collect a fee of 0.25%, rather than 0.10%, of gross title insurance premiums. Subjects title insurance agents to various fees. FISCAL NOTE, H-AM 1 (Department of Financial Institutions) Initial cost would be $177,038 which fee revenues would cover. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status