381.024. Denial of access and failure to cooperate prohibited, penalty. - Missouri Statutes

Denial of access and failure to cooperate prohibited, penalty.

381.024. 1. It is unlawful for any title agency or title agent notaffiliated with an agency to unreasonably deny access or fail to cooperatewith its underwriters in the title insurers' reviews of the agency's oragent's escrow, settlement, closing and security deposit accounts.

2. It is unlawful for any title agency or title agent not affiliatedwith an agency, appointed by two or more title insurers, to deny any of thetitle insurers access to the fiduciary trust accounts in connection withproviding escrow or closing settlement services, and any or all of thesupporting account information in order to ascertain the safety andsecurity of the funds held by the title agency or title agent.

3. A violation of any provision under this section is a level twoviolation under section 374.049, RSMo.

(L. 2007 S.B. 66)

Effective 1-01-08