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 35.6 - Disclosure of fees and other charges
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 35.6
Current through Register Vol. 46, No. 12, March 20, 2024
(a)
(1)
Every title insurance corporation shall publish on its website its range of
charges for title insurance and any ancillary or other discretionary fees for
services related to the title transaction that are not otherwise included in
the rate of premium approved by the superintendent. The range of charges and
fees shall be publicly available and accessible in a manner that permits an
applicant or potential applicant to independently determine the applicable
charges.
(2) Every title insurance
agent shall conspicuously post at its place of business and on its website, if
it has one, its fees for services performed in connection with the issuance of
a title insurance policy. The title insurance agent shall also provide a copy
of the fees to an applicant or potential applicant in a written document.
Pursuant to Insurance Law section
2119(f), a title insurance
agent may charge a service fee only for ancillary services not encompassed in
the rate of premium approved by the superintendent and provided that the fees
are based upon a written memorandum in accordance with such section and section
20.6
of this Title.
(b) At or prior to the time of closing, a title insurance agent shall provide to the applicant, or the applicant's representative, a list of the applicant's actual title insurance costs, including the title insurance premium, any discretionary or ancillary fees, and any other separately identifiable service charge. If no title insurance agent is used, then the title insurance corporation shall provide the information.
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