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 35.8 - Use of title insurance closer by title insurance agent and title insurance corporation
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 35.8
Current through Register Vol. 46, No. 39, September 25, 2024
(a) When a title insurance corporation engages or retains a title insurance closer at a closing, the title insurance corporation shall exercise due diligence to ensure that the title closer is competent and trustworthy; provided, however, that if the title insurance agent engages the title insurance closer, then the title insurance agent shall exercise such due diligence.
(b) The title insurance agent or title insurance corporation that engages or retains the title insurance closer shall be responsible for the title insurance closer's acts with respect to the issuance of a title insurance policy.
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