CHAPTER 2701. GENERAL PROVISIONS - Texas Statutes

INSURANCE CODE

TITLE 11. TITLE INSURANCE

SUBTITLE E. THE BUSINESS OF TITLE INSURANCE

CHAPTER 2701. GENERAL PROVISIONS

Sec. 2701.001. ABSTRACT OF TITLE DISTINGUISHED; PROHIBITION ON

REGULATION OF ABSTRACT OF TITLE. (a) In this section,

"commitment for title insurance" means a title insurance form

under which a title insurance company offers to issue a title

insurance policy subject to stated exceptions, requirements, and

terms. The term includes a mortgagee title policy binder on an

interim construction loan.

(b) A commitment for title insurance constitutes a statement of

the terms and conditions on which a title insurance company is

willing to issue its policy. A title insurance policy or other

title insurance form constitutes a statement of the terms and

conditions of the indemnity under the policy or form.

(c) An abstract of title prepared from an abstract plant for a

chain of title to real property described in the abstract of

title is not title insurance, a commitment for title insurance,

or any other title insurance form. A commitment for title

insurance, title insurance policy, or other title insurance form

is not an abstract of title.

(d) The commissioner may not adopt rules relating to abstracts

of title.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1,

2005.

Sec. 2701.002. CONSTRUCTION OF CHAPTER 601, BUSINESS &

COMMERCE CODE. Chapter 601, Business & Commerce Code, is a

consumer protection law when construed in connection with a title

insurance policy issued in this state.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1,

2005.

Amended by:

Acts 2007, 80th Leg., R.S., Ch.

885, Sec. 2.22, eff. April 1, 2009.