1. The Commissioner shall establish by regulation the fees to be paid by title agents and title insurers for their supervision and examination by the Commissioner or a representative of the Commissioner.
2. In establishing the fees pursuant to subsection 1, the Commissioner shall consider:
(a) The complexity of the various examinations to which the fees apply;
(b) The skill required to conduct such examinations;
(c) The expenses associated with conducting such examinations and preparing reports; and
(d) Any other factors the Commissioner deems relevant.
3. The Commissioner shall, with the approval of the Commissioner of Financial Institutions, adopt regulations prescribing the standards for determining whether a title insurer or title agent has maintained adequate supervision of a title agent or escrow officer pursuant to the provisions of this chapter.