15 U.S.C. § 6713 — Title insurance activities of national banks and their affiliates

(a) General prohibition. A national bank may not engage in any activity involving the underwriting or sale of title insurance.nn(b) Nondiscrimination parity exception. (1) In general. Despite any other law, including section 6701 of this title, if State^*-law banks in a State are authorized to sell title insurance as agents, a national bank may sell title insurance as an agent in that State. But it may do so only in the same way, to the same extent, and under the same restrictions that apply to those State banks. (2) Coordination with the “wildcard” provision. A State law that authorizes State banks to engage in any activity in that State in which a national bank may engage is not treated, for purposes of paragraph (1), as a law that authorizes State banks to sell title insurance as agents.nn(c) Grandfathering with consistent regulation. (1) In general. Despite subsections (a) and (b), and except as provided in paragraphs (2) and (3), a national bank and a subsidiary of a national bank may conduct title-insurance activities that the national bank or subsidiary was actively and lawfully conducting before November 12, 1999. (2) Insurance affiliate. If a national bank has an affiliate that provides insurance as principal and is not a subsidiary of the bank, the national bank and any subsidiary of the national bank may not underwrite title insurance under paragraph (1). (3) Insurance subsidiary. If a national bank has a subsidiary that provides insurance as principal and has no affiliate other than a subsidiary that provides insurance as principal, the national bank may not directly engage in any activity involving the underwriting of title insurance.nn(d) “Affiliate” and “subsidiary” defined. In this section, “affiliate” and “subsidiary” have the same meanings as in section 1841 of title 12.nn(e) Rule of construction. No provision of this Act or any other Federal law may be interpreted as replacing or affecting a State law that was in effect before November 12, 1999, and that prohibits any person from offering, providing, or selling title insurance in that State, or from underwriting title insurance for real property in that State.