(1) Each title insurer and title insurance agent shall make available to the public schedules of its currently effective title insurance premiums and fees for providing escrow services.

     (2) The schedules shall:

     (a) Be dated to show the date the title insurance premiums or fees for providing escrow services became effective;

     (b) Be made available to the public during normal business hours in each office of the title insurer and its appointed title insurance agents in this state;

     (c) Be made available on the title insurer's and title insurance agent's web site, if the title insurer or title insurance agent has a web site;

     (d) Set forth the total title insurance premium charged for the title insurance policy issued by the title insurer either by stating the premium for each title insurance policy in given amounts of coverage, or by stating the charge per unit amount of coverage, or by a combination of the two; and

     (e) Set forth the total fees for providing escrow services by clearly stating the amounts to be charged for the escrow services, the manner in which the fees for the escrow services are to be determined, and any charges that will be charged to the consumer that are not included in the total escrow fee.

     (3) Each title insurer and title insurance agent shall keep a complete file of its schedules of title insurance premiums and fees for providing escrow services and all changes and amendments to those schedules until at least one year after they have ceased to be in effect.

[2008 c 110 § 7.]