The Oklahoma Legislature passed legislation to direct title insurance producers or title insurers to provide certain requested document copies at no charge at a modified time frame. The bill, HB 1506, awaits the governor’s signature.
The bill would amend 36 O.S. 2021, Section 5001(D) to state, “If the current owner or insured, or the owner’s or insured’s authorized agent requests, in writing, a copy of any previously issued owner’s policy, the title insurance producer or the title insurer that issued the policy shall provide the requesting party with a copy of the schedules in the previously issued policy, at no charge, within three business days, unless there exists an unavoidable delay.”
If adopted, the bill would go into effect Nov. 1.