20-1547. Mortgage guaranty insurance as
monoline
A. A mortgage guaranty insurance company that anywhere transacts any class of
insurance other than mortgage guaranty insurance is not eligible for the issuance or
renewal of a certificate of authority to transact mortgage guaranty insurance in this
state.
B. A mortgage guaranty insurance company that anywhere transacts the classes of
insurance defined in section 20-1541, paragraph 4, subdivision (b) or (c) is not eligible
for a certificate of authority to transact in this state the class of mortgage guaranty
insurance defined in section 20-1541, paragraph 4, subdivision (a). A mortgage guaranty
insurance company that transacts a class of insurance defined in section 20-1541,
paragraph 4, subdivision (a) may write up to five per cent of its insurance in force on
residential property designed for occupancy by five or more families.
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