Section 910-24 - Agents; defined(a) A title insurance agent means an authorized person, firm, association, corporation, partnership or other legal entity, other than a bona fide employe of the title insurer, who on behalf of the title insurer performs the following acts, in conjunction with the issuance of a title insurance report or policy: (1) determines insurability and issues title insurance reports or policies, or both, based upon the performance or review of a search, or an abstract of title; and(2) performs one or more of the following functions:(i) collects or disburses premiums, escrow or security deposits or other funds;(ii) handles escrow, settlements or closings;(iii) solicits or negotiates title insurance business; or(iv) records closing documents. The word "agent" shall not include approved attorneys, nor shall it include officers and salaried employes of any title insurance company authorized to do a title insurance business within this Commonwealth.
1921, May 17, P.L. 682, art. VII, § 724, added 1963, Aug. 14, P.L. 922, § 3. Amended 1995, Dec. 21, P.L. 714, No. 79, § 5, effective in 60 days; 2002, July 10, P.L. 749, No. 110, § 4, effective in 60 days.