Texas Insurance Code 2652.051 – License Application
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(a) Before an initial license is issued to an individual to act as an escrow officer in this state for a title insurance agent or direct operation, the individual must file an application for an escrow officer’s license with the department on forms provided by the department and the title insurance agent or direct operation must file an appointment of the escrow officer under Section 2652.1511.
(b) The application must be:
(1) accompanied by a nonrefundable license fee; and
(2) signed and sworn to by the title insurance agent or direct operation and by the proposed escrow officer.
Terms Used In Texas Insurance Code 2652.051
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
- sworn: includes affirm or affirmed. See Texas Government Code 312.011
(c) The completed application must state that:
(1) the proposed escrow officer is an individual who is a bona fide resident of:
(A) this state; or
(B) a state adjacent to this state;
(2) the proposed escrow officer is an attorney or is a bona fide employee of:
(A) an attorney licensed as an escrow officer; or
(B) a title insurance agent or direct operation;
(3) the proposed escrow officer has reasonable experience or instruction in the field of title insurance;
(4) the title insurance agent or direct operation does not know of any fact or condition that disqualifies the proposed escrow officer from receiving a license; and
(5) the proposed escrow officer is a bona fide employee of a title insurance agent or direct operation with an office in this state.
(d) Notwithstanding Sections 406.004 and 406.020, Government Code, a person qualified under this section as an escrow officer may hold a license and operate as a notary public under Chapter 406, Government Code.