Favored producer of title insurer; buyer’s right to choose.
A title insurer shall not participate in any transaction in which it knows that a title insurance producer or other person requires, directly or indirectly, or through any trustee, director, officer, producer, employee, or affiliate, as a condition precedent to selling or furnishing any other person a loan, or loan extension, credit, sale, property, contract, lease, or service, that the other person shall place a title insurance policy of any kind with the title insurer or through a particular title insurance producer. No seller of property shall require, directly or indirectly, that the buyer purchase title insurance from any particular title producer or insurer.
Annotations
Sept. 24, 2010, D.C. Law 18-223, § 2157, 57 DCR 6242 Nov. 5, 2013, D.C. Law 20-40, § 5(g), 60 DCR 12304 For temporary (90 day) addition, see § 2157 of Fiscal Year 2011 Budget Support Emergency Act of 2010 (D.C. Act 18-463, July 2, 2010, 57 DCR 6542). The 2013 amendment by DC Law 20-40 designated the existing text as (a); substituted “producer” for “agent” throughout (a); and added (b).
Sourced from the DC Council Open Law Library (public domain).
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