Kansas Statutes 40-1141. Same; violations and penalties
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Terms Used In Kansas Statutes 40-1141
- agent: means an authorized person, other than a bona fide employee of the title insurer who, on behalf of the title insurer, performs the following acts, in conjunction with the issuance of a title insurance report or policy:
(1) Determines insurability and issues title insurance reports or policies, or both, based upon the performance or review of a search, or an abstract of title;
(2) collects or disburses premiums, escrow or security deposits or other funds;
(3) handles escrow, settlements or closings;
(4) solicits or negotiates title insurance business; or
(5) records closing documents. See Kansas Statutes 40-1136
- Commissioner: means the commissioner of insurance of the state of Kansas. See Kansas Statutes 40-1136
- Person: means a natural person, partnership, association, cooperative, corporation, trust or other legal entity. See Kansas Statutes 40-1136
If the commissioner determines that the title insurance agent or any other person has violated this act, or any rules and regulation or order promulgated thereunder, after notice and opportunity to be heard, the commissioner may order that such person be subject to the penalties provided in Kan. Stat. Ann. § 40-2406 et seq., and amendments thereto.