Sec. 1. The title insurance enforcement fund is established for the following purposes:
(1) To provide supplemental funding for department operations that are related to title insurance, including any of the following:
(A) The investigation of any matter concerning title insurance transactions in Indiana, to the extent necessary to determine compliance with this title.
(B) Appropriate administrative and civil actions to redress instances of noncompliance with this title.
(C) Cooperative efforts with federal, state, and local law enforcement agencies in investigating the following:
(i) Deceptive acts in connection with title insurance transactions.
(ii) Criminal violations involving deceptive acts in connection with title insurance transactions.
(iii) Violations of the Real Estate Settlement Procedures Act (12 U.S.C. 2601 et seq.) and any other federal laws or regulations concerning title insurance transactions. To the extent authorized by federal law, the department may enforce compliance with the federal statutes or regulations described in this item or refer suspected violations of the statutes or regulations to the appropriate federal regulatory agencies.
(D) Actions to enjoin violations of 12 U.S.C. 2607, as permitted under 12 U.S.C. 2607(d) and 12 U.S.C. 2614.
(2) To pay the costs of hiring and employing staff in the area of enforcement of title insurance law.
(3) To provide funding for educational materials or services designed to provide information to consumers about residential title insurance transactions.
As added by P.L.171-2006, SEC.5. Amended by P.L.145-2008, SEC.32.
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