A. Title insurance agents shall be licensed by the director. Application for license shall be made on forms approved by the director, and the director shall issue a license upon completion and filing the application and payment of the license fee specified in section 20-167.

Terms Used In Arizona Laws 20-1580

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
  • 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 insurance agent: means a domestic or foreign stock corporation or limited liability company authorized in writing by a title insurer to solicit insurance and collect premiums and to issue or countersign policies in its behalf, except that the term "title insurance agent" shall not include officers or salaried employees of any title insurer authorized to do a title insurance business within this state. See Arizona Laws 20-1562

B. Licenses of title insurance agents shall expire quadrennially at midnight on the last day of the same month four years after the license was issued or renewed unless sooner terminated by the withdrawal by the insurer of authority in the agent, or unless revoked by the director.

C. Title insurance agents’ licenses shall be renewed quadrennially on the filing of an application containing such information as the director deems necessary.

D. The director may grant a temporary license to a corporation or limited liability company that is qualified for licensing as a title insurance agent. The license shall remain in force and effect for a period of six months. If the applicant fails to qualify for a regular title insurance agent’s license as provided in this section, no renewal or extension may be granted.

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