Bill Type
Congress Name
Long Title
AN ACT CREATING THE FIELD OF LAND TITLE INSURANCE, AMENDING FOR THE PURPOSE PRESIDENTIAL DECREE NO. 612, OTHERWISE KNOWN AS THE INSURANCE CODE OF 1978, AS AMENDED BY PRESIDENTIAL DECREE NOS. 1455 AND 1460 AND BATAS PAMBANSA BLG. 874
Date filed
July 24, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 1301, 12th Congress of the Republic |
| FULL TITLE : AN ACT CREATING THE FIELD OF LAND TITLE INSURANCE, AMENDING FOR THE PURPOSE PRESIDENTIAL DECREE NO. 612, OTHERWISE KNOWN AS THE INSURANCE CODE OF 1978, AS AMENDED BY PRESIDENTIAL DECREE NOS. 1455 AND 1460 AND BATAS PAMBANSA BLG. 874 |
| ABSTRACT : Rationale: Title insurance is a new field country. There is a need for legislation to implement this provision and to encourage insurance companies to go into this venture. There is an urgency to implement title insurance system since title fraud became a very serious problem. In order to implement a system of title insurance, there is a need to amend the Insurance Code of 1978 or PD 612 as amended, by adding the necessary provisions creating the field of title insurance. |
| PRINCIPAL AUTHOR/S : ZIALCITA, EDUARDO C. |
| DATE FILED : 2001-07-24 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Syjuco (010 ) |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2001-07-30 |
Abstract
Rationale: Title insurance is a new field country. There is a need for legislation to implement this provision and to encourage insurance companies to go into this venture. There is an urgency to implement title insurance system since title fraud became a very serious problem. In order to implement a system of title insurance, there is a need to amend the Insurance Code of 1978 or PD 612 as amended, by adding the necessary provisions creating the field of title insurance.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.