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Legislative Update – 2011 September 8, 2011

Legislative Update – 2011 September 8, 2011. Provided by: National Investors Title Insurance Company Presented by: Bruce D. Liesman , CTIA, CAEA Chief Texas Counsel 210-225-6666 or 877-256-8089 bruce.liesman@nititle.com. Legislative Update - 2011. Texas Department of Insurance (TDI)

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Legislative Update – 2011 September 8, 2011

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  1. Legislative Update – 2011September 8, 2011 Provided by: National Investors Title Insurance Company Presented by: Bruce D. Liesman, CTIA, CAEA Chief Texas Counsel 210-225-6666 or 877-256-8089 bruce.liesman@nititle.com

  2. Legislative Update - 2011 • Texas Department of Insurance (TDI) HB 2408 • Rebating clarification on education Effective: September 1, 2011 • Renewal of agency license Effective: September 1, 2011 • Limiting and defining the procedures and results of a TDI disciplinary action Effective: September 1, 2011 • Rate & rule hearing procedures Effective: September 1, 2011 but subject to TDI finalizing new hearing rules HB 2604 • agency solvency/agent capitalization relief Effective: June 17, 2011 but subject to TDI finalizing applicable rules

  3. Legislative Update - 2011 • Minerals HB 2408 Effective: January 1, 2012 • Payoff Statements HB 558 Effective: September 1, 2011 – but not actually effective until the form is promulgated by the State Finance Commission.

  4. Legislative Update - 2011 • Acknowledgement of foreign persons SB 1320 Effective: September 1, 2011 • Private Transfer Fees (a.k.a Freehold estates) HB 8 Effective: June 17, 2011

  5. Legislative Update - 2011 • HOA/POA resale certificates HB 1821 Effective: September 1, 2011 • Correction Deeds SB 1496 Effective: September 1, 2011

  6. Legislative Update - 2011 • Mechanic Lien issues • Lien waivers & release of mechanic’s liens HB 1456 Effective: January 1, 2012 – but only applies to original contracts entered into on or after January 1, 2012. • Creation of lien for landscaping HB 1456 Effective Date: January 1, 2012 • Revision of time periods and notices regarding retainage HB 1390 Effective Date: September 1, 2011, but applies only to a lien claim for labor or materials furnished under a subcontract where the original contract was entered into, on or after September 1, 2011.

  7. Legislative Update - 2011 • LisPendens – when it effects property SB 1187 Effective: September 1, 2011 • Prohibition on requiring deed to later avoid foreclosure SB 1496 Effective: September 1, 2011

  8. Legislative Update - 2011 • Other interesting legislation • You can look up any bill by number at: www.legis.state.tx.us/billlookup/billnumber.aspx   choose the “enrolled” version

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