HARRY HUGHES, Governor

1333

CONSIDERATION. THE COMMISSIONER SHALL DISAPPROVE ANY RATE
FILING IF IT IS DETERMINED THAT ANY OR ALL OF THE EXPENSE

FACTORS ARE EXCESSIVE OR UNFAIRLY DISCRIMINATORY. THE

BURDEN OF PROOF SHALL BE ON THE FILER THAT THE EXPENSE
FACTORS ARE NOT EXCESSIVE OR UNFAIRLY DISCRIMINATORY.

(6) ON SEPTEMBER 1, 1980 THE COMMISSIONER SHALL
ADVISE ALL TITLE INSURANCE COMPANIES LICENSED AND AUTHORIZED
TO WRITE TITLE INSURANCE IN THE STATE OF THE MAXIMUM RATE OF
COMMISSION THAT WILL BE PERMITTED FOR ANY CONTRACT, POLICY,
OR GUARANTEE OF TITLE INSURANCE. EVERY 2 YEARS THEREAFTER,
THE COMMISSIONER SHALL REVIEW THE ANNUAL STATEMENT AND OTHER
RELEVANT FACTORS OF ALL LICENSED AND AUTHORIZED TITLE
INSURANCE COMPANIES AND SHALL ADVISE THEM OF THE MAXIMUM
RATE OF COMMISSION FOR THE FOLLOWING 2-YEAR PERIOD.

(C) (9) AN INSURER MAY NOT MAKE OR ISSUE ANY CONTRACT,
POLICY, OR GUARANTEE OF INSURANCE AFTER JANUARY 1, 1981
UNLESS THE RATES OR PREMIUMS FOR THE CONTRACT, POLICY, OR
GUARANTEE HAVE BEEN APPROVED AFTER SEPTEMBER 1, 1980.
APPROVAL FOR THE RATES OR PREMIUMS SHALL BE FOR A PERIOD NOT
TO EXCEED 2 YEARS.

(C) (9) THE COMMISSIONER SHALL REQUIRE THAT BY
SEPTEMBER 1, 1980, ALL TITLE INSURANCE COMPANIES SUBJECT TO
THE PROVISIONS OF THIS SECTION PROVIDE ON A UNIFORM BASIS
WHATEVER FINANCIAL DATA INCLUDING RATES, TAXES, GENERAL
EXPENSES, ALLOCATED AND UNALLOCATED LOSS ADJUSTMENT
EXPENSES, LICENSES, AND FEES, AND ALL OTHER EXPENSES
RELATING TO THE PROCUREMENT OF BUSINESS NOT SPECIFICALLY
LISTED AS COMMISSIONS SUCH AS DIVIDENDS, RETAINERS, STOCK,
OFFICE SPACE, OR ANY OTHER VALUABLE CONSIDERATION AND ANY
OTHER INFORMATION THE COMMISSION REQUIRES IN THE REGULATION
OF RATES. THIS INFORMATION SHALL BE SUPPLIED ON FORMS
PROVIDED BY THE COMMISSIONER. THE COMMISSIONER, IN
COOPERATION WITH THE SECRETARY OF LICENSING AND REGULATION,
SHALL CONDUCT A STUDY BASED ON THIS INFORMATION AND SHALL
RECOMMEND TO THE 1981 SESSION OF THE GENERAL ASSEMBLY
CHANGES IN THE LAW, IF ANY, HE DEEMS NECESSARY TO REGULATE
TITLE INSURANCE COMPANIES.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July June 1, 1980.

Approved May 6, 1980.

CHAPTER 406
(House Bill 590)
AN ACT concerning

Volunteer Firemen - Death Benefits