(a) A person that purchases a title insurance policy shall pay to the title insurer that issues the title insurance policy a fee of five dollars ($5) as a fee for the title insurance enforcement fund at the time of payment for the title insurance policy.(b) A title insurer shall:(1) retain two dollars ($2) of the fee collected under subsection (a) as an administrative fee; and(2) pay to the department three dollars ($3) of the fee collected under subsection (a) for deposit in the title insurance enforcement fund.As added by P.L.171-2006, SEC.5.
Indiana Legal Code