Sec. 303. TITLE INSURANCE ACTIVITIES OF NATIONAL BANKS AND THEIR AFFILIATES
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## SEC. 303 TITLE INSURANCE ACTIVITIES OF NATIONAL BANKS AND THEIR AFFILIATES **[**[15 U.S.C. 6713](/us/usc/t15/s6713)**]** ###
(a)General Prohibition No national bank may engage in any activity involving the underwriting or sale of title insurance. ###
(b)Nondiscrimination Parity Exception ####
(1)In general Notwithstanding any other provision of law (including section 104 of this Act), in the case of any State in which banks organized under the laws of such State are authorized to sell title insurance as agent, a national bank may sell title insurance as agent in such State, but only in the same manner, to the same extent, and under the same restrictions as such State banks are authorized to sell title insurance as agent in such State. ####
(2)Coordination with “wildcard” provision.—A State law which authorizes State banks to engage in any activities in such State in which a national bank may engage shall not be treated as a statute which authorizes State banks to sell title insurance as agent, for purposes of paragraph (1). ###
(c)Grandfathering With Consistent Regulation ####
(1)In general Except as provided in paragraphs
(2)and
(3)and notwithstanding subsections
(a)and (b), a national bank, and a subsidiary of a national bank, may conduct title insurance activities which such national bank or subsidiary was actively and lawfully conducting before the date of the enactment of this Act. ####
(2)Insurance affiliate In the case of a national bank which has an affiliate which provides insurance as principal and is not a subsidiary of the bank, the national bank and any subsidiary of the national bank may not engage in the underwriting of title insurance pursuant to paragraph (1). ####
(3)Insurance subsidiary In the case of a national bank which has a subsidiary which provides insurance as principal and has no affiliate other than a subsidiary which provides insurance as principal, the national bank may not directly engage in any activity involving the underwriting of title insurance. ###
(d)“Affiliate” and “Subsidiary” Defined For purposes of this section, the terms “**affiliate**” and “subsidiary” have the same meanings as in section 2 of the Bank Holding Company Act of 1956. ###
(e)Rule of Construction No provision of this Act or any other Federal law shall be construed as superseding or affecting a State law which was in effect before the date of the enactment of this Act and which prohibits title insurance from being offered, provided, or sold in such State, or from being underwritten with respect to real property in such State, by any person whatsoever.
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Sec. 303
TITLE INSURANCE ACTIVITIES OF NATIONAL BANKS AND THEIR AFFILIATES
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