California Insurance Code 12390 – Every domestic title insurer may issue title policies and may also …
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Every domestic title insurer may issue title policies and may also insure:
(a) The identity, due execution, and validity of any note or bond secured by mortgage.
Terms Used In California Insurance Code 12390
- 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.
- Domestic: means organized under the laws of this State, whether or not admitted. See California Insurance Code 26
- Mortgage: includes a trust deed, "mortgagor" includes a trustor under such trust deed, "mortgagee" includes a beneficiary under such trust deed, or a trustee exercising powers or performing duties granted to or imposed upon him thereunder, and "lien" in respect to real or personal property includes a charge or incumbrance arising out of a trust deed. See California Insurance Code 29
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
(b) The identity, due execution, validity and recording of any such mortgage.
(c) The identity, due execution and validity of evidences of indebtedness issued by this State, or by any political subdivision or district therein, or by any private or public corporation.
(Enacted by Stats. 1935, Ch. 145.)