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1996 SESSION

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HB 613 Title insurance; loss reserves.

Introduced by: John Watkins | all patrons    ...    notes | add to my profiles

SUMMARY:

Title insurance; loss reserves. Establishes a statutory formula for determining required loss reserves for title insurance companies. Under the bill, reserve adequacy is based on an actuarial comparison of total recorded reserves to a projection of ultimate losses not yet paid. Methods for determining additional reserves for both domestic and foreign or alien title insurance companies are also established in the bill.


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