20-1581. Title insurance agents; books;
records; revocation of license
A. Every title insurance agent shall keep books of account, records and vouchers
pertaining to the business of title insurance in such a manner that the director may
readily ascertain from time to time whether the agent has complied with all applicable
provisions of law.
B. A title insurance agent may engage in the business of handling escrows of real
property transactions so long as it maintains a separate record of all receipts and
disbursements of escrow funds and does not commingle any such funds with its own funds or
with funds held by it in any other capacity.
C. If at any time the director determines that a title insurance agent has failed
to comply with any applicable provision of law other than any provision of title 6,
chapter 7, has been guilty of fraudulent conduct toward the public or any title insurer,
or has violated any applicable insurance law, he may, after notice and hearing, revoke
the license of such agent.
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