If by reason of any cause, other than depreciation in the market value of investments, the amount of the assets of a title insurer held as investments of its unearned premium reserve should on any date be less than the amount required to be maintained by law in such reserve, and the deficiency shall not be promptly cured, such title insurer shall forthwith give written notice thereof to the director and shall issue no further title insurance policies, whether of policy insurance, reinsurance or coinsurance, until the deficiency shall have been eliminated and until it shall have received written approval from the director authorizing it again to issue such policies.

Terms Used In Arizona Laws 20-1570

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Title insurance: means insuring, guaranteeing or indemnifying owners of real property or others interested therein against loss or damage suffered by reason of liens, encumbrances upon, defects in or the unmarketability of the title to such property, guaranteeing, warranting or otherwise insuring the correctness of searches relating to the title to real property, or doing any business in substance equivalent to any of the foregoing. See Arizona Laws 20-1562
  • Title insurer: means any domestic company organized under the provisions of this title for the purpose of insuring titles to real property, any title insurance company organized under the laws of another state and licensed to insure titles to real estate within this state pursuant to the provisions of this article, and any domestic or foreign company having the power and authorized to insure titles to real estate within this state as of January 1, 1968 which meet the requirements of this article. See Arizona Laws 20-1562
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