20-1567. Determination of insurability
required
A. No policy or contract of title insurance shall be written on any risk located in
this state except by a title insurer authorized to do business in this state, nor unless
and until the title insurer has caused to be conducted a reasonable examination of the
title and has caused to be made a determination of insurability of title in accordance
with sound underwriting practices for title insurers.
B. No title insurer shall write title insurance in, nor issue any title insurance
policy with respect to risks located in, any county of this state with a population, as
shown by the latest decennial census, in excess of one hundred thousand persons, unless
the title insurer or its agent in that county maintains a title insurance plant covering
title records of such county, or unless the insurer issues its policy based on a policy
issued to it by another title insurance company, or its agent, who meets the requirements
of this section provided, however, that for the purposes of this subsection a title
insurer or title insurance agent shall be deemed to maintain a title insurance plant if
it is a lessee thereof or joint owner or has a beneficial interest in such a plant.
C. This section shall not apply to a reinsurer or an excess coinsurer, provided the
originating insurer complies with subsections A and B.
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