Indiana Code 27-7-3-3. Title insurance business; authorization of domestic and foreign corporations; application of business corporation law
(1) among its purposes the insuring against loss or damage on account of encumbrances upon or defects in the title to real estate; and
Terms Used In Indiana Code 27-7-3-3
- company: shall mean and include any corporation, domestic or foreign, to which this chapter is applicable. See Indiana Code 27-7-3-2
- 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.
- department: shall mean the department of insurance of the state of Indiana. See Indiana Code 27-7-3-2
- title insurance: means a contract of insurance against loss or damage on account of encumbrances upon or defects in the title to real estate. See Indiana Code 27-7-3-2
is hereby authorized to organize under IC 23-1, and any foreign corporation, having among its purposes the insuring against loss or damage on account of encumbrances upon or defects in the title to real estate, is hereby authorized to and may be admitted to do business in this state under IC 23-1. Any domestic or foreign corporation, organized or admitted to do business before or after June 7, 1937, as provided in this section, may engage in business as a title insurance company by complying with the provisions of this chapter.
(b) A domestic corporation admitted to do business as described in subsection (a) shall provide written notice to the department of insurance and all policyholders of a change in location of the domestic corporation’s physical office in Indiana, including the address and telephone number of the new location.
Formerly: Acts 1937, c.104, s.3. As amended by P.L.252-1985, SEC.249; P.L.11-2011, SEC.28.