What is a Texas Title Insurance Agent Bond?
The Texas Title Insurance Agent Bond is required by the State of Texas Department of Insurance in compliance with the Texas Insurance Code, Article 9.38. The bond amount is determined by Article 9.38 of the Texas Insurance Code. This bond states that the bondholder shall pay the Texas Department of Insurance to participate in an insured real estate transaction. Any transaction will be sustained through acts of fraud, dishonesty, theft, embezzlement or willful misapplication of the bondholder. The bond amount is determined by Article 9.38 of the Texas Insurance Code. The amount must be the greater of $10,000 or an amount equal to 10% of the gross premium written by the title insurance agent or direct operation. In accordance with the latest statistical report sent to the Texas Department of Insurance, but the bond should not exceed $100,000.
In addition to the bond, the applicant must also submit the following:
- Pay the $50 application fee
- Title insurance agent or direct operation appointment (Form FINT10).
- Escrow officer appointment
- Title insurance licensing biographical information (Form FINT08) for the following:
- For a sole proprietorship, the sole proprietor and each designated on-site manager.
- For a partnership, each designated on-site manager and partner who is in control.
- For an entity, each officer, director, limited liability company manager, designated on-site manager, and person who is control of the entity.
- Each controlling person of an entity or partnership who is in control of the entity or partnership applicant.
- Organizational chart that includes names and position titles for the applicant, each person that controls the applicant, and each person that controls an entity who is in control of the entity or partnership applicant.
- Title insurance agent’s unencumbered assets certification
What is the process for getting a Texas Title Insurance Agent Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). When the paperwork is finished and the premium is processed, your surety bond will be shipped. Either via USPS Priority Mail or your preferred expedited shipping method(for an additional cost).
The surety bond experts at Surety Solutions Insurance Services, Inc.(Surety1), are available to help you get bonded quickly and with ease. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.