SOUTHLAND TITLE SETTLES WITH STATE.Byline: Daily News A Burbank-based title company agreed Friday to pay $2 million to settle allegations that it lavished gifts on real estate licensees in exchange for business. Southland Title Corp., Southland Title of Orange County and Southland Title of San Diego each agreed to pay $500,000, and other costs, without admitting or denying the allegations in a 13-page California Department of Insurance The California Department of Insurance (CDI), established in 1868, is the angency charged with overseeing the regulation of insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in the state complaint, Insurance Commissioner Harry Low said. The state department began its investigation in April 1999 after receiving numerous letters and telephone calls reporting kickback The seller's return of part of the purchase price of an item to a buyer or buyer's representative for the purpose of inducing a purchase or improperly influencing future purchases. activity, according to the complaint. CDI CDI compact disc interactive: a system for storing a mix of software, data, audio, and compressed video for interactive use under processor control accused the title company of giving illegal rebates - in the form of gift certificates, concert and event tickets, vacation packages, funding for holiday parties and payment for business support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services - as inducements for agents and others to throw business the companies' way. |
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