§ 20-1561 Law governing title insurers
§ 20-1562 Definitions
§ 20-1563 Qualifications
§ 20-1564 Investments
§ 20-1565 Additional powers
§ 20-1566 Taxation of title insurers
§ 20-1567 Determination of insurability required
§ 20-1568 Unearned premium reserve
§ 20-1569 Amount of unearned premium reserve; release
§ 20-1570 Maintenance of the unearned premium reserve
§ 20-1571 Use of the unearned premium reserve on liquidation, dissolution or insolvency
§ 20-1572 Reserve for unpaid losses and loss expense
§ 20-1573 Net retained liability
§ 20-1574 Power to reinsure
§ 20-1575 Foreign title insurers; resident agent required
§ 20-1576 Mergers and consolidations of title insurers
§ 20-1577 Corporate acquisitions other than by merger or consolidation
§ 20-1578 Purchase or acquisition of controlling stock
§ 20-1580 Title insurance agents to be licensed
§ 20-1581 Title insurance agents; books; records; revocation of license
§ 20-1582 Title insurance agents; replies to inquiries by director
§ 20-1583 Title insurance agents; certain names prohibited
§ 20-1584 Commissions; right to pay
§ 20-1585 Commissions; other considerations prohibited
§ 20-1586 Rebates or reduced fees
§ 20-1587 Personal or controlled insurance
§ 20-1588 Examination of records; order; notice
§ 20-1589 Violations; classification
§ 20-1590 Permitted division of fees
§ 20-1591 Forms of policies and other contracts of title insurance; approval or disapproval
§ 20-1592 Records
§ 20-1593 Joint examination; department of financial institutions; powers and duties

Terms Used In Arizona Laws > Title 20 > Chapter 6 > Article 9

  • Abstract of title: means a written representation that is provided pursuant to a written or oral contract that is intended to be relied on by the person who has contracted for the receipt of the representation. See Arizona Laws 20-1562
  • Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Business of title insurance: shall be deemed to be:

    (a) The making as insurer, guarantor or surety, or proposing to make as insurer, guarantor or surety, of any contract or policy of title insurance. See Arizona Laws 20-1562

  • commission: means the department of insurance. See Arizona Laws 20-101
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Fiduciary: A trustee, executor, or administrator.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Net retained liability: means the total liability retained by a title insurer under any policy or contract of insurance, or under a single insurance risk as defined in or computed in accordance with paragraph 7, after the purchase of reinsurance. See Arizona Laws 20-1562
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
  • personal or controlled insurance: means a policy of title insurance where the insured or one of the insureds under such policy is, or the loss thereunder is payable to:

    1. See Arizona Laws 20-1587

  • Personal property: includes money, goods, chattels, things in action and evidences of debt. See Arizona Laws 1-215
  • Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
  • Property: includes both real and personal property. See Arizona Laws 1-215
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Single insurance risk: means the insured amount of any policy or contract of title insurance issued by a title insurer unless two or more policies or contracts are simultaneously issued on different estates in identical real property, in which event, it means the sum of the insured amounts of all such policies or contracts, except that any such policy or contract that insures a mortgage interest or a vendor's interest that is excepted in a fee or leasehold policy or contract, and which does not exceed the insured amount of such fee or leasehold policy or contract, shall be excluded in computing the amount of a single insurance risk. See Arizona Laws 20-1562
  • 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
  • Title insurance plant: means a set of records in which an entry has been made of all documents or matters which under the law impart constructive notice of matters affecting title to real property or any interest therein or encumbrance thereon and which have been filed or recorded in the county for which such title plant is maintained for a period of not less than the immediately preceding twenty years. See Arizona Laws 20-1562
  • Title insurance policy: means a written instrument or contract by means of which title insurance liability is accepted. 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
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
  • Writing: includes printing. See Arizona Laws 1-215