Whenever the laws or regulations of any other state impose upon a title insurance company incorporated by or organized under the laws of this state, or upon any agents of a title insurance company, any taxes, licenses or other fees, in the aggregate, or any fines, penalties, deposit requirements or other material obligations, prohibitions or restrictions, in excess of those imposed by the then existing laws of this state for similar purposes on similar companies of other states doing business in this state then, in every case, all title insurance companies, and all agents of the state, doing business or establishing an agency or agencies in this state, shall in this state be subject to the same fines, penalties, deposit requirements and other material obligations, prohibitions and restrictions, and shall be required to pay in this state the same taxes, licenses, or other fees as are applicable under the laws of the foreign state to Tennessee title insurance companies, or agencies of the Tennessee title insurance companies, doing business in the foreign state.