A. If a title protection document will be issued to the mortgagee, the mortgagee shall give to the buyer at the time of loan application written notice containing the following:
1. Whether the title protection document will provide protection to the buyer; and
2. That the buyer should seek independent, competent advice as to whether the buyer should obtain any additional title protection document. In the event said additional title protection is desired, it shall be obtained by the buyer in a timely manner in order to avoid undue delay of the closing under the terms of the contract of sale.
B. The requirements of this section shall not be subject to waiver by the buyer.
Laws 1979, c. 166, § 2.
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