Raised Bill No. 399 is a legislative proposal that mandates the Department of Consumer Protection to conduct a study on the licensing and regulatory requirements for individuals who perform title searches of real property in the state. The bill requires the Commissioner of Consumer Protection to evaluate the potential establishment of such requirements and to submit a report on the findings to the joint standing committees of the General Assembly that oversee matters related to general law and insurance. The report is due by January 1, 2025.

The bill is effective upon passage and introduces a new section to the statutes, as indicated by the insertion tags. The purpose of the bill is to explore the need for formal licensing and regulation of professionals who conduct title searches, which are critical in determining the legal status of real estate ownership. The bill does not include any deletions from the current law, as indicated by the absence of deletion tags and the note explaining that proposed deletions would be enclosed in brackets.