A Title Insurance Commitment Is a Contract to Issue Insurance

question 36

True/False

A title insurance commitment is a contract to issue insurance once the transaction has been closed.

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Definitions:

Interpretive Rules

Regulations issued by administrative agencies to clarify the meaning of existing laws or procedures.

Compliance

The act of adhering to laws, regulations, guidelines, and standards set by governmental bodies or industry organizations.

Administrative Law Judge

An official who presides over government agency hearings and makes decisions on disputes involving administrative law.

U.S. Supreme Court

The U.S. Supreme Court is the highest court in the United States, holding ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law.