15 U.S. Code § 6713 - Title insurance activities of national banks and their affiliates
(a) General prohibition
No national bank may engage in any activity involving the underwriting or sale of title insurance.
(b) Nondiscrimination parity exception
(1) In general
Notwithstanding any other provision of law (including section 6701 of this title), in the case of any State in which banks organized under the laws of such State are authorized to sell title insurance as agent, a national bank may sell title insurance as agent in such State, but only in the same manner, to the same extent, and under the same restrictions as such State banks are authorized to sell title insurance as agent in such State.
(c) Grandfathering with consistent regulation
(1) In general
Except as provided in paragraphs (2) and (3) and notwithstanding subsections (a) and (b) of this section, a national bank, and a subsidiary of a national bank, may conduct title insurance activities which such national bank or subsidiary was actively and lawfully conducting before November 12, 1999.
(2) Insurance affiliate
In the case of a national bank which has an affiliate which provides insurance as principal and is not a subsidiary of the bank, the national bank and any subsidiary of the national bank may not engage in the underwriting of title insurance pursuant to paragraph (1).
(3) Insurance subsidiary
In the case of a national bank which has a subsidiary which provides insurance as principal and has no affiliate other than a subsidiary which provides insurance as principal, the national bank may not directly engage in any activity involving the underwriting of title insurance.
(d) “Affiliate” and “subsidiary” defined
(e) Rule of construction
No provision of this Act or any other Federal law shall be construed as superseding or affecting a State law which was in effect before November 12, 1999, and which prohibits title insurance from being offered, provided, or sold in such State, or from being underwritten with respect to real property in such State, by any person whatsoever.
Source(Pub. L. 106–102, title III, § 303,Nov. 12, 1999, 113 Stat. 1408.)
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