Sec. 21.66.290. Title insurance limited producer replies to director inquiries.
A title insurance limited producer shall reply in writing promptly, with a copy of the reply mailed to each title insurance company for which the licensee is acting, to an inquiry of the director relating to the licensee’s acts as a title insurance limited producer. In addition to any other penalty provided by law, failure […]
Sec. 21.66.085. Quarterly statement.
(a) The director may require an insurer to file quarterly financial statements. If required, the statements must follow the format specified in AS 21.66.080(a). (b) A quarterly financial statement, if required, is due 45 days after the end of the quarter to which it applies. (c) An insurer shall pay to the division $100 for […]
Sec. 21.66.090. Application for certificate of authority.
(a) Every company, before engaging in a title insurance business in this state, shall apply to the director for a certificate of authority to transact business under AS 21.09. (b) With the filing of the application, the company shall pay a fee set under AS 21.06.250 and, in addition, shall pay all expenses incurred in […]
Sec. 21.66.110. Annual tax on title insurance premiums.
(a) Each title insurance company shall pay a tax of one percent of the amount of gross title insurance premiums received by it, including as premium income received from guaranteed certificates of title and other guarantees of title covering property in this state, as shown by its annual statement to the director. The director shall […]
Sec. 21.66.120. Examination by director.
(a) The director is authorized to examine the books, accounts, assets, and title plants of a company authorized to write title insurance hereunder to determine that there has been no impairment of capital and that the company has complied with the provisions of this chapter. (b) [Repealed, § 223 ch 67 SLA 1992.]
Sec. 21.66.170. Determination of insurability required.
(a) A policy or contract of title insurance may not be written until the title insurance company has, through a licensed title insurance limited producer, conducted a reasonable search and examination of the title and the company has made a determination of insurability of title in accordance with its established underwriting practices. Evidence of the […]
Sec. 21.66.180. General powers.
A title insurance company may (1) do business as defined in AS 21.66.480; (2) do any act, directly or through a title insurance limited producer, incidental to making a contract or policy of title insurance, including conducting or holding an escrow, settlement, or closing of a transaction; and (3) provide other services relative or incidental […]
Sec. 21.66.190. Limitations on powers.
(a) An insurer that transacts any class or kind of insurance other than title insurance is not eligible for the issuance or renewal of a certificate of authority to transact the business of title insurance in this state. (b) A title insurance company may not engage in the business of guaranteeing the payment of the […]
Sec. 21.66.200. Title plant requirements.
A title insurance company shall own and maintain in the recording district in which its principal office in the state is located a title plant consisting of adequate maps and fully indexed records showing all instruments of record affecting all land within the recording district for a period of at least 25 years immediately before […]
Sec. 21.66.210. Joint plant companies.
(a) Two or more title insurance companies or two or more title insurance limited producers, or a combination of title insurance companies and title insurance limited producers, may apply to the director of insurance to form an association, corporation, or other legal entity, for the purpose of engaging in the business of preparing abstracts of […]