Sec 20-1593. Joint examination; department of financial institutions; powers and duties

A. The director and the superintendent of financial institutions shall conduct their examinations of title insurers and title insurance agents according to the following:

1. The director shall notify the superintendent of financial institutions at least thirty days before an examination by the director of a title insurer or title insurance agent.

2. If the examination of the title insurer or title insurance agent as an escrow agent is required under section 6-122, the superintendent shall conduct that examination under section 6-122 at the same time as the director conducts his examination.

B. Beginning January 1, 1994, the department of financial institutions shall regulate all escrow activities that are regulated under this title, including the filing of escrow rates or fees for escrow services performed by a title insurer or title insurance agent that is a licensed escrow agent under title 6.