Section 17:46B-1.1 - Definitionsa. As used in this section: "Title search business entity" means any person or entity organized under the laws of this State or another state for the primary purpose of determining the existence of any lien, lawsuit, lease, easement, mortgage or other encumbrance or restriction, or ownership interest, on any property and regularly conducts business with any title insurance company or title insurance agent as defined in section 1 of P.L. 1975, c.106 (C.17:46B-1).
b. A title search business entity conducting business in this State shall register with and be subject to regulation by the Department of Banking and Insurance. The business entities shall also register with the Division of Revenue and Enterprise Services in the Department of the Treasury, or the county clerk, as appropriate.c. The Commissioner of Banking and Insurance may issue rules and regulations necessary to effectuate the purposes of this section. The rules and regulations shall be effective immediately upon filing with the Office of Administrative Law for a period not to exceed 18 months and may, thereafter, be amended, adopted, or readopted in accordance with the "Administrative Procedure Act," P.L. 1968, c.410 (C.52:14B-1 et seq.).Added by L. 2021, c. 371,s. 4, eff. 1/12/2022, app. retroactively to 12/10/2021.