Bulletin: MO000006

Dear Associates:

Section 381.031(17), Revised Statutes of Missouri defines a "title agent" or "title insurance agent" as:

"...any authorized agent of a title insurer or representative of the title agent or agency who acts as a title agent in the solicitation of negotiation for, or procurement or making of any title insurance contract. The following persons are not title agents or title insurance agents:

(a) Approved Attorneys;

(b) Salaried offices or employees of title insurers, title agents or title insurance agencies who do not do any of the following:

a. Establish premiums for policies of title insurance;
b. Determine insurability; or
c. Issue commitments, policies or other contracts of title insurance"

The State of Missouri Department of Insurance (the "Department") interprets this section to include anyone employed by an agent who determines insurability. Further, the Department construes determining insurability to include the job functions of title searcher, title examiner, and any closing activity where an employee discusses coverage issues and modifies the insurance contract by deleting or adding matters to the title commitment.

In light of the foregoing, we suggest that you review the status of each of your employee's job duties and functions, and verify that all associates who fall within the definition of Section 38.031(17) are properly licensed.