31.16.03.06

.06 Annual Reports.

A. Filing. Each title insurer or title insurance producer who maintains a separate MAHT account shall file an annual report with the Commissioner and MAHT.

B. Forms. The annual report shall be prepared on a form approved by the Commissioner and shall include the following information:

(1) A list of all MAHT accounts and other bank accounts maintained by the title insurer or title insurance producer in which trust money was deposited at any time during the year, which list shall include the:

(a) Name of the account holder;

(b) Names of all persons who have access to the account;

(c) Financial institution in which the account is maintained;

(d) Account number; and

(e) Purpose of the account;

(2) Gross and net interest earned on each account;

(3) A list of the types and amounts charged for services provided to each account, together with the total amount charged for services for each account; and

(4) Any other information the Commissioner considers necessary.

C. Date of Filing. A title insurer or title insurance producer shall file the annual report with the Commissioner and MAHT on or before March 31 for the immediately preceding year ending December 31.