55-525.29 - (Effective October 1, 2010) Accounting by title insurance companies.
§ 55-525.29. (Effective October 1, 2010) Accounting by title insurancecompanies.
A title insurance company domiciled in the Commonwealth or acting in thecapacity of a settlement agent pursuant to this chapter shall account forfunds held and income derived from escrow, closing, or settlement services inaccordance with the applicable instructions of, and the accounting practicesand procedures manuals adopted by, the Association when filing the annualstatements and reports required under Chapter 13 (§ 38.2-1300 et seq.) ofTitle 38.2.
(1997, c. 716, § 6.1-2.25; 2004, cc. 336, 597; 2010, c. 794.)