Effective date: 4/29/1996
When a title insurance agency substitutes a surety bond in place of its deposit of securities pursuant to section 626.8418(2), F.S., the bond must secure performance by the agency of its responsibilities relating to the title policies issued through the agency, including performance during the time period in which the deposit was in place, prior to the issuance of the bond. All claims made after issuance of the bond based on liability incurred prior to the issuance of the bond, must be covered by the bond.
Rulemaking authorized by Florida Statutes § 624.308. Law Implemented 624.307(1), 626.8418 FS. History—New 4-29-96, Formerly 4-186.015.