Missouri § 381.018 - Written contract with title insurer required for commitment or policy issuance, statement of financial condition when, contents, review and notification requirements, inventory, proof of licensure, penalty for violation.
Full text of Missouri Revised Statutes of Missouri § 381.018 — Written contract with title insurer required for commitment or policy issuance, statement of financial condition when, contents, review and notification requirements, inventory, proof of licensure, penalty for violation., with citation guidance and answers to common questions.
§ 381.018. Written contract with title insurer required for commitment or policy issuance, statement of financial condition when, contents, review and notification requirements, inventory, proof of licensure, penalty for violation.
1. The title insurer shall not allow the issuance of its commitments or policies by a title agency or title agent not affiliated with a title agency unless there is in force a written contract between the parties.
2. The title insurer shall maintain an inventory of all policy numbers allocated to each title agency or title agent not affiliated with a title agency.
3. The title insurer shall have on file proof that the title agency or title agent is licensed by this state at the time a written contract is entered into or before it becomes effective.
4. The title insurer shall establish the underwriting guidelines and, where applicable, limitations on title claims settlement authority to be incorporated into contracts with its title agencies and title agents not affiliated with a title agency.
5. If a title insurer terminates its contract with a title agency licensed under this chapter, the insurer shall, within seven days of the termination, notify the director of the reasons for termination, including any information that is required to be reported under subsection 5 of section 375.022.
6. A violation of any provision under this section is a level two violation under section 374.049.
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(L. 2000 S.B. 894, A.L. 2007 S.B. 66)
Effective 1-01-08
---- end of effective 01 Jan 2008 ----
Frequently Asked Questions About Missouri § 381.018
What does Revised Statutes of Missouri § 381.018 cover?
Section 381.018 ("Written contract with title insurer required for commitment or policy issuance, statement of financial condition when, contents, review and notification requirements, inventory, proof of licensure, penalty for violation.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 381.018?
A common citation format is "Revised Statutes of Missouri § 381.018" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 381.018 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.