To Amend The Arkansas Title Insurance Act; And To Regulate Access To Public Records By A Title Agent And A Title Company.
Summary
HB1367 amends the Arkansas Title Insurance Act to require cities, counties, and state government offices that maintain real-property records electronically to provide those records in their electronic format to title insurance agents, title insurance agencies, and persons affiliated with title insurance agencies. If the records are not kept electronically, the bill requires the government entity to provide a mechanical reproduction of the records instead. The bill also requires that the records be provided without any watermark or notation that does not appear on the original record.
The bill sets a fee cap of $150 per month for providing these records under the new access provisions. It applies to instruments of record affecting real property and is aimed at standardizing and facilitating access to public land and property records used in title work, closing transactions, and related real estate services.
Impact
HB1367 changes Arkansas law governing access to public records under the Title Insurance Act by creating a specific disclosure obligation for government custodians of real-property records. It expands the practical access rights of title industry participants to electronic records and, where electronic records are unavailable, to mechanical reproductions, while limiting the fee that may be charged for this access. The bill primarily affects local and state record custodians, title insurers, title agents, title agencies, and affiliated service providers involved in real estate transactions.
Sentiment
The bill appears to have been broadly supported. It passed the House unanimously on third reading and later passed the Senate with only three nays, suggesting general agreement that the measure improves access to property records for the title industry. The lack of committee transcript material limits insight into detailed debate, but the voting history indicates a largely favorable reception.
Contention
The main points of potential contention are the mandated disclosure of electronic records to private title industry actors, the prohibition on added watermarks or notations, and the monthly fee cap, which could be viewed by public record custodians as limiting cost recovery or administrative control. Any concerns would likely come from government entities responsible for maintaining records or from those wary of preferential access for title-related businesses, though the recorded votes show little organized opposition.