Sec. 21.66.310. Rebates prohibited.

230 words·~1 min read·/ak/title-21/chapter-66/21-66-310

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A title insurer, or officer, employee, attorney, or title insurance limited producer of a title insurer, may not pay, allow, or give or offer to pay, allow, or give, directly or indirectly, as an inducement to obtaining a title insurance business, a rebate, reduction, or abatement of a rate or charge made incident to the issuance of the title insurance, a special favor or advantage, money consideration, or other inducement. A charge made incident to the issuance of the insurance is construed to include, without limitation, escrow, settlement, and closing charges.

(b)An insured named in a title insurance policy or any other person directly or indirectly connected with the transaction involving the issuance of a title insurance policy, including a mortgage lender, real estate broker, builder, or attorney, or an officer, employee, agent, representative, or solicitor of a mortgage lender, real estate broker, builder, attorney, or other person, may not knowingly receive or accept, directly or indirectly, a rebate, reduction, or abatement of a charge or premium or a special favor or advantage, or a monetary consideration or inducement.

(c)Nothing in this section prohibits

(1)the payment of fees for services actually rendered as a result of a title insurance transaction; or

(2)the payment of a commission to a legally appointed title insurance limited producer who issues the policy of title insurance.