Missouri Revised Statutes
Chapter 381 - Title Insurance Law
Section 381.045 - Violations, penalties.

Effective - 01 Jan 2008
381.045. Violations, penalties. — 1. If the director determines that a person has engaged, is engaging, or has taken a substantial step toward engaging in an act, practice, omission or course of business constituting a violation in this chapter or a rule adopted or order issued pursuant thereto, or a person has materially aided or is materially aiding an act, practice, omission, or course of business constituting a violation in this chapter or a rule adopted or order issued pursuant thereto, the director may issue such administrative orders as authorized under section 374.046. The director may also suspend or revoke the license of a producer under section 375.141 or the certificate of authority of any title insurer as authorized under section 374.047 for any such willful violation.
2. If the director believes that a person has engaged, is engaging, or has taken a substantial step toward engaging in an act, practice, omission or course of business constituting a violation in this chapter or a rule adopted or order issued pursuant thereto, or that a person has materially aided or is materially aiding an act, practice, omission, or course of business constituting a violation in this chapter or a rule adopted or order issued pursuant thereto, the director may maintain a civil action for relief authorized under section 374.048.
3. Nothing contained in this section shall affect the right of the director to impose any other penalties provided for in the laws relating to the business of insurance.
4. Nothing contained in this chapter is intended to or shall in any other manner limit or restrict the rights of policyholders, claimants, and creditors.
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(L. 2000 S.B. 894, A.L. 2007 S.B. 66)
Effective 1-01-08

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XXIV - Business and Financial Institutions

Chapter 381 - Title Insurance Law

Section 381.011 - Citation of law — purpose statement.

Section 381.015 - Title insurance commitment, required statement, when — lender's insurance policy without owner's title insurance, notice given when, contents, retention — penalty for violation.

Section 381.018 - Written contract with title insurer required for commitment or policy issuance, statement of financial condition when, contents, review and notification requirements, inventory, proof of licensure, penalty for violation.

Section 381.019 - Required disclosures.

Section 381.022 - Title insurer, agency or agent not affiliated with a title agency may operate as an escrow, security, settlement or closing agent, when, penalty for violations.

Section 381.023 - Underwriting claims and escrow practices, review of, required when — standards for review.

Section 381.024 - Denial of access and failure to cooperate prohibited, penalty.

Section 381.025 - Consideration for referrals, when, penalty.

Section 381.026 - Recording of deeds and security instruments.

Section 381.029 - Affiliated business — definitions — requirements — rules — violations.

Section 381.038 - Retention of records required, limitation, penalty for violation.

Section 381.042 - Rules, authority, procedure.

Section 381.045 - Violations, penalties.

Section 381.048 - Court actions authorized, when.

Section 381.052 - Persons authorized to conduct title insurance business.

Section 381.055 - Powers of title insurer.

Section 381.058 - License required for insurer to transact business of title insurance, exclusive to other types of insurance business, limitations — closing or settlement protection authorized.

Section 381.062 - Establishment and maintenance of minimum paid-in capital and paid-in initial surplus necessary for insurance business license.

Section 381.065 - Net retained liability limits, maximum amount — reinsurance allowed — waiver by director of risk, when.

Section 381.068 - Investment in title plant, amount restricted, considered asset.

Section 381.071 - Insurer's duties, policies — examination of title, determination of insurability — showing of liens against title — records kept, duration — exceptions to requirements.

Section 381.072 - Reserve requirements, reserve to cover all known claims — unearned premium reserve, amount, actuarial certification required, supplemental reserve, amount, deadline.

Section 381.075 - Additional insurance laws applicable to title insurers, insurer's supervision, rehabilitation and liquidation act, exceptions — liquidation or insolvency, treatment of security and escrow funds, filing of claims, cancellation of pol...

Section 381.085 - Forms, director to approve before use — contents concerning coverage of policy, when included — disapproval by director, procedure.

Section 381.112 - Premium tax, premium income defined.

Section 381.115 - Licensing required for title agencies and title agents, exceptions — delegation of title searches to third party, rules — violations, penalty.

Section 381.118 - Examination required — education requirements, exemptions — approved courses and programs — teaching credit — credits may be carried forward — extensions and waivers — certification to director of completion — nonresidents — rules —...

Section 381.122 - Director authorized to inspect books and records.

Section 381.161 - Contract of title insurance through specific agent, agency, or insurer prohibited.

Section 381.400 - Definitions.

Section 381.403 - Title insurance companies and agents may enter into construction escrow agreements and issue insured closing letters.

Section 381.405 - Construction and guaranty agreements not authorized for title insurance companies — title insurance against mechanic liens and insured closing letters, authorized.

Section 381.410 - Definitions.

Section 381.412 - Settlement agents, accepting funds, exemption — title insurer, deposit of funds — violation, fine.