New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter II - Agents, Brokers And Adjusters
Part 35 - Title Insurance: Title Insurance Agents, Aflliated Relationships, And Required Disclosures
Section 35.1 - Definitions
Current through Register Vol. 46, No. 12, March 20, 2024
For purposes of this Part:
(a) Affiliated business means title insurance business that a title insurance agent or title insurance corporation generates from an affiliated person.
(b) Affiliated person means an applicant for insurance or a person who acts as an agent, representative, attorney, or employee of the owner, lessee, or mortgagee, or of the prospective owner, lessee, or mortgagee of real property or any interest therein, or the applicant's or other person's spouse, when the person or spouse directly or indirectly:
(c) Applicant for insurance or applicant means:
(d) Controls, including the terms "controlling", controlled by" and, under common control with" shall have the meaning set forth in Insurance Law section 107(a)(16).
(e) Core title services means:
(f) Person means an individual or other entity, including an estate or trust.
(g) RESPA means the federal Real Estate Settlement Procedures Act of 1974, 12 U.S.C. section 2601 et seq., as amended, and Regulation X, 12 C.F.R. Part 1024 et seq., as amended.
(h) Title insurance closer means any person who, for compensation or anything of value, represents a title insurance corporation or title insurance agent at a closing.
(i) Title insurance agent shall have the meaning set forth in Insurance Law section 2101(y).