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You are here: Home . bulletins . 1995earlier . 154

BULLETIN NO. 154

April 15, 1991

 

TO: ALL TITLE INSURANCE COMPANIES LICENSED TO DO BUSINESS IN THE STATE OF TEXAS, DIRECT OPERATIONS AND AGENTS THEREOF

RE: PRELIMINARY OR SPECIMEN TITLE POLICIES

It has come to the attention of the State Board of Insurance that "preliminary title policies", "specimen policies", or things of similar import, are being issued at the request of lenders prior to recording and funding of a transaction.

Pursuant to Art. 9.07 of the Texas Insurance Code, "under no circumstances may any title insurance company or title insurance agent use any form which is required under the provisions of this Chapter to be promulgated or approved until the same shall have been so promulgated or approved by the Board."

This department finds no provision or ruling pursuant to Chapter 9 or the promulgated rules to allow for "preliminary title policies", "specimen policies", or things of similar import, either signed or unsigned. This practice shall not be permitted after the date of this bulletin and if discovered would be subject to disciplinary action.

/s/ Fabian S. Gomez, III
Fabian S. Gomez, III
Title Insurance Manager



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