58-26-1. Purpose of organization; formation; insuring closing services; premium rates; combined premiums for lenders’ coverages. (a) Companies may be formed in the manner provided in this Article for the purpose of furnishing information in relation to titles to real estate and of insuring owners and others interested therein against loss by reason of encumbrances and […]
58-26-10. Financial statements and licenses required. Title insurance companies are subject to G.S. 58-2-131, 58-2-132, 58-2-133, 58-2-134, 58-2-165, 58-2-180, and 58-6-5. The Commissioner may require title insurance companies to separately report their experience in insuring titles and in insuring closing services. The license to do business in this State issued to a title insurance company […]
58-26-15. Limitation of risk. No real estate title insurance company shall guarantee or insure in any one risk on real property located in North Carolina more than forty percent (40%) of its combined capital and surplus without first having the approval of the Commissioner, which approval shall be endorsed upon the policy. (1945, c. 386; […]
58-26-20. Statutory premium reserve. Every domestic title insurance company shall, in addition to other reserves, establish and maintain a reserve to be known as the "statutory premium reserve" for title insurance, which shall at all times and for all purposes be considered and constitute a reserve liability of the title insurance company in determining its […]
58-26-25. Amount of unearned statutory premium reserve. (a) Repealed by Sessions Laws 2018-38, s. 2.2, effective October 1, 2018. (a1) A domestic title insurance company shall establish and maintain a statutory premium reserve in an amount equal to $0.17 per $1,000 of net retained liability for each title insurance policy which is defined as the […]
58-26-45. Registration as a lien agent. (a) A title insurance company or title insurance agency authorized to do business in this State that consents to serve as a lien agent upon designation by any owner pursuant to G.S. 44A-11.1 shall register with the Department by providing the following information: (1) Name of the title insurance […]
58-26-5. Certificate of authority to do business. Before any such company may issue any policy or make any contract or guarantee of insurance, it shall file with the Commissioner a certified copy of the record or the certificate of its organization in the office of the Secretary of State, and obtain from the Commissioner his […]
58-26-6. Exemption for policies issued on property affected by boundary certification. The Commissioner of Insurance shall not take any of the following actions with respect to a real estate title insurance company that previously operated only in South Carolina and issued a policy of title insurance in compliance under South Carolina law for a parcel […]
