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.
(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.)
Such insurer also may:
(a)Act as registrar or transfer agent of this State, or of any political subdivision or district therein, or of any private or public corporation.
(b)Transfer or countersign any evidences of indebtedness which it may insure.
(c)Transfer or countersign certificates of stock of any private or public corporation.
(Enacted by Stats. 1935, Ch. 145.)
A title insurer, as to its title insurance department, shall be subject to and shall comply with all the requirements of the insurance laws and the rules and regulations of the commissioner. It may invest its assets apportioned to its title insurance department, and the accumulations therefrom, in the manner in which the assets of title insurers are allowed by the laws of this state to be invested.
(Amended by Stats. 1999, Ch. 187, Sec. 2. Effective January 1, 2000.)