An Express Article from the California Land Title Association
Bulletin 2005/06 –111 - March 28, 2006
The Legislature’s bill introduction deadline was February 22nd and the CLTA now has an idea of what we face in 2006. The Legislative Committee met in March and reviewed bills identified as impacting the title industry, including the following:
Private Child Support Collectors
Private child support collectors would be regulated and could have the same rights and remedies as the obligee to collect their fees under AB 2781 (PDF).
Community Investment Reporting
Biennial reporting would be required by insurers on their community investments starting in 2007 if AB 925 (PDF) becomes law.
Flood Insurance Requirement
A lender would be prohibited from making a loan on property in a flood levee protection/inundation zone unless there was flood insurance under AB 1898 (PDF).
AB 3022 (PDF) would require disclosures if property was inside a 100 year flood plain; SB 1809 (PDF) would require disclosures if property was located in a redevelopment area and the redevelopment plan did not prohibit the use of eminent domain; and AB 2228 (PDF) requires a disclosure on the availability of a report on environmental hazards.
State funded housing with re-sale restrictions could have a new recorded document entitled a “Request for Notification of Re-sales” under AB 2922 (PDF).
Legislation has been introduced to deal with the sale of telephone calling patterns or records (SB 1666) (PDF), to provide free credit monitoring in cases of security breaches (SB 1744) (PDF) and to protect personal information of victims of domestic violence (SB 1491) (PDF).