September 16, 2008
SB 133, crafted with the cooperation of the California Department of Insurance (CDI), is a piece of landmark legislation that will allow California to lead the country in title insurance marketing reform by creating the first registration program for title marketing representatives in the nation. The bill has encountered no opposition and has had bi-partisan support in both houses of the state legislature.
SB 133 is a very pro-consumer bill that will create a registration/licensing program for title marketing representatives employed by title companies, whose primary duties are to market title insurance. The certification/licensing requirements provided by SB 133 will enhance consumer protection by creating clear marketing rules for title marketing representatives while also increasing competition in the title insurance marketplace in California today.
The bill, which is currently sitting at the Senate Desk, will soon be sent to the Governor for signature and could arrive on his desk as early as this week. While SB 133 has been passed out of the legislature since late August, CLTA had parked the bill at the Senate Desk while waiting for the State Legislature to finalize a budget, which the Governor had insisted was necessary in order for him to sign any further bills.