§ 23-103-405. Title insurers — Limitation of authority — Powers
(a) (1) An insurer that transacts any class, type, or kind of insurance other than title insurance is not eligible for the issuance or renewal of a license to transact title insurance business in this state. (2) Title insurance shall not be transacted, underwritten, or issued by any insurer transacting or licensed to transact any […]
§ 23-103-406. Title insurance agents — Examination of records
The Insurance Commissioner or title insurer during normal business hours may examine, audit, and inspect any and all books, records, files, and escrow and operating accounts related to title insurance reports and policies maintained by a title insurance agency, its successor in interest, transferee, or receiver under this subchapter.
§ 23-103-407. Agency contracts
(a) (1) A person acting in the capacity of a title insurance agency shall not place business with a title insurer, and a title insurer shall not accept business from a title insurance agency unless a written contract exists between the title insurer and title insurance agency. (2) The written contract shall establish the responsibilities […]
§ 23-103-408. Minimum search requirements
(a) A title insurance report or title insurance policy shall not be issued unless the title insurance agency or title insurance agent has caused to be made a search of the title from the evidence prepared from a title plant or files of the county where the property is located or from the records of […]
§ 23-103-401. Title
This subchapter shall be known and may be cited as the “Arkansas Title Insurance Act”.
§ 23-103-402. Definitions
As used in this subchapter: (1) “Closing” means the collection and disbursement of funds and title insurance premiums out of escrow in connection with a transaction involving either personal or real property, including the transfer of title or creation of a lien on the title; (2) “Closing agent” means a person that facilitates a closing; […]
§ 23-103-403. Requirement for license
(a) (1) Except as provided in subdivision (a)(2) of this section and § 23-103-404, only an appointed title insurance agency licensed under § 23-64-101 et seq. shall issue title insurance policies, reports, or otherwise transact title insurance business. (2) An appointed title insurance agency licensed under § 23-64-101 et seq. shall not issue closing protection […]