A. A title insurer that is not incorporated under the laws of this state, but is authorized to transact business herein, shall not make, write, place or cause to be made, written or placed any policy or contract of insurance covering real property in this state except:

Terms Used In Arizona Laws 20-1575

  • Contract: A legal written agreement that becomes binding when signed.
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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

1. Through a title insurance agent as defined in section 20-1562.

2. Through a bona fide branch office located in this state and under the direction and control of such title insurer, all expenses of which branch office, including compensation of all employees, are paid by such title insurer.

3. Through a subsidiary title insurer.

B. This section does not apply to contracts of reinsurance or excess coinsurance.

 

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