20-1575. Foreign title insurers; resident agent required

A. A title insurer that is not incorporated under the laws of this state, but is authorized to transact business herein, shall not make, write, place or cause to be made, written or placed any policy or contract of insurance covering real property in this state except:

1. Through a title insurance agent as defined in section 20-1562.

2. Through a bona fide branch office located in this state and under the direction and control of such title insurer, all expenses of which branch office, including compensation of all employees, are paid by such title insurer.

3. Through a subsidiary title insurer.

B. This section does not apply to contracts of reinsurance or excess coinsurance.

20-1575. Foreign title insurers; resident agent required

A. A title insurer that is not incorporated under the laws of this state, but is authorized to transact business herein, shall not make, write, place or cause to be made, written or placed any policy or contract of insurance covering real property in this state except:

1. Through a title insurance agent as defined in section 20-1562.

2. Through a bona fide branch office located in this state and under the direction and control of such title insurer, all expenses of which branch office, including compensation of all employees, are paid by such title insurer.

3. Through a subsidiary title insurer.

B. This section does not apply to contracts of reinsurance or excess coinsurance.