Senate Bill 1042 (SB1042) originally addressed the addition of "natural organic reduction" as a method of cremation and modified related definitions. However, the House of Representatives adopted a strike-everything amendment that significantly changed the bill's focus.
The amended bill now outlines the enforceability of agreements to indemnify title insurers against risks arising from properly recorded instruments. Such agreements must be in writing and meet one of the following conditions: the instrument was not of record when the agreement was executed, the instrument is specifically described in the agreement, it is shown as an exception in the title insurance policy, it secures a monetary obligation and remains an outstanding debt (excluding improvement district assessments), or it indemnifies against liens from work done or services/materials provided on the insured property. The bill also clarifies that these agreements must be separate from the title insurance policy and do not affect the enforceability of title warranties in deeds or mortgages.
Statutes affected: Introduced Version: 32-1301, 32-1398, 32-1365.02, 32-1391.06, 36-831
Senate Engrossed Version: 32-1301, 32-1398, 32-1365.02, 32-1391.06, 36-831
House Engrossed Version: 20-1591
Chaptered Version: 20-1591