Article 28.--EXAMINATION, REGISTRATION, LICENSING AND BONDING OF ABSTRACTERS
58-2802.Bond and insurance requirements;liabilities, limitations;abstracting of certain rights-of-way and easements; additional bond; certainacts prohibited.(a) No license shall be issued to any applicant until theapplicant fileswith the board a bond and a policy ofinsurance as provided in this section. The bond shall be in an amountestablishedby the board of not less than $25,000. Such insurance shall be a policy oferrors and omissions in an amount not less than $25,000, with a deductiblepermitted of not to exceed 10% of the amount of the insurancecoverage, as determined by the abstracters' board of examiners, and shallbe issued by a company authorized to transact business in thestate of Kansas.
(b) If the $25,000liability insurance is unavailable to any applicant, the abstracters'board of examiners may issue a license to the applicant upon (1) theapplicant furnishing a bond in the amount of the total of both theinsurance coverage required under subsection (a) and the amount of the bond requiredfrom the applicant by the board of examiners under subsection (a). Suchbond may be furnished in lieu of filing both the insurancepolicy and the bond required under subsection (a). The applicant shall filea copy of such bond, certified by the chairperson of the board as true andcorrect, with the county clerk of the county for which the bond wasgiven. The bond shall be executed by a surety company authorized to transactbusiness in this state; or (2) the applicant furnishinga bond signed by a sufficient surety to be approved by the board ofexaminers. The bond shall be in the penal sum ofnot less than $5,000 conditioned for paymentby the applicant of any and all actual damages that may be sustained or mayaccrue to any person, firm, corporation or body politic byreason of or on account of any error, deficiency or mistake in anyabstract or continuation thereof made and issued by the applicant. A causeof action for such damages shall not be deemed to have accrueduntil the error, deficiency or mistake giving rise to the cause ofaction first causes substantial injury or, if the fact of injury is notreasonably ascertainable until some time after the initial error,deficiency or mistake, the period of limitation shall not commenceuntil the fact of injury becomes reasonably ascertainable to the injuredparty. In no event shall the period of limitation be extended more than15 years beyond the time of the act giving rise to the cause of action.
(c) In cases where there is filed of record a right-of-way or othereasement grant over or under lands for public utility or private orcommon carrier purposes if the title ofthe instrument or proceeding in condemnation granting or creatingright-of-way or easement, together with a description of the character thereof,the names of the parties thereto,and index and date of recording, is shown onthe abstract, it shall not be necessary to show on the abstract (1) any subsequentmortgages, deeds of trust or other encumbrances of the right-of-way oreasement rights or of fixtures located thereon owned by the holder ofthe right-of-way or easement, or (2) any subsequent releases of such mortgages,deeds of trust or encumbrances, or (3) any documents showing the corporatecharacter of such owner or of any mortgagee or trustee of suchright-of-way or easement. It shall not be necessary to showon the abstract anyprivileged or confidential document or proceeding which is not open forinspection on file or of record in the district court and a failureto show such matters shall not be deemed incompleteness, imperfection orerror on the part of those compiling the abstract. Noabstracter shall be held liable for notshowing such matters and, if the abstracterdoes show them, the abstracter shall not bepermitted to charge compensation therefor unless express request toshow any or all of such matters is made in writing to the abstracter.
(d) Any licensee doing business in more than one county shall furnish anadditional bond for each county where the licensee does business to beexecuted, approved and filed as required by the board. Any license issuedunder the provisions of this act shall be in a form approved by theboard except that such form shall recite that such bond has been filedand approved. No licensee, unless duly licensed to practice law,shall for hire examine and furnish an opinion on an abstract oftitle nor draw wills or other legal instruments not in connection with thelicensee's own business, and for violation thereof,the license shall berevoked.
History: L. 1941, ch. 348, § 3; L. 1945, ch. 259, § 1; L. 1967,ch. 307, § 1; L. 1972, ch. 214, § 1; L. 1973, ch. 224, § 1; L.1976, ch. 145, § 208; L. 1977, ch. 192, § 1; L. 1983, ch. 186, § 2;L. 1989, ch. 166, § 1;L. 2006, ch. 124, § 5; July 1.
Article 28.--EXAMINATION, REGISTRATION, LICENSING AND BONDING OF ABSTRACTERS
58-2802.Bond and insurance requirements;liabilities, limitations;abstracting of certain rights-of-way and easements; additional bond; certainacts prohibited.(a) No license shall be issued to any applicant until theapplicant fileswith the board a bond and a policy ofinsurance as provided in this section. The bond shall be in an amountestablishedby the board of not less than $25,000. Such insurance shall be a policy oferrors and omissions in an amount not less than $25,000, with a deductiblepermitted of not to exceed 10% of the amount of the insurancecoverage, as determined by the abstracters' board of examiners, and shallbe issued by a company authorized to transact business in thestate of Kansas.
(b) If the $25,000liability insurance is unavailable to any applicant, the abstracters'board of examiners may issue a license to the applicant upon (1) theapplicant furnishing a bond in the amount of the total of both theinsurance coverage required under subsection (a) and the amount of the bond requiredfrom the applicant by the board of examiners under subsection (a). Suchbond may be furnished in lieu of filing both the insurancepolicy and the bond required under subsection (a). The applicant shall filea copy of such bond, certified by the chairperson of the board as true andcorrect, with the county clerk of the county for which the bond wasgiven. The bond shall be executed by a surety company authorized to transactbusiness in this state; or (2) the applicant furnishinga bond signed by a sufficient surety to be approved by the board ofexaminers. The bond shall be in the penal sum ofnot less than $5,000 conditioned for paymentby the applicant of any and all actual damages that may be sustained or mayaccrue to any person, firm, corporation or body politic byreason of or on account of any error, deficiency or mistake in anyabstract or continuation thereof made and issued by the applicant. A causeof action for such damages shall not be deemed to have accrueduntil the error, deficiency or mistake giving rise to the cause ofaction first causes substantial injury or, if the fact of injury is notreasonably ascertainable until some time after the initial error,deficiency or mistake, the period of limitation shall not commenceuntil the fact of injury becomes reasonably ascertainable to the injuredparty. In no event shall the period of limitation be extended more than15 years beyond the time of the act giving rise to the cause of action.
(c) In cases where there is filed of record a right-of-way or othereasement grant over or under lands for public utility or private orcommon carrier purposes if the title ofthe instrument or proceeding in condemnation granting or creatingright-of-way or easement, together with a description of the character thereof,the names of the parties thereto,and index and date of recording, is shown onthe abstract, it shall not be necessary to show on the abstract (1) any subsequentmortgages, deeds of trust or other encumbrances of the right-of-way oreasement rights or of fixtures located thereon owned by the holder ofthe right-of-way or easement, or (2) any subsequent releases of such mortgages,deeds of trust or encumbrances, or (3) any documents showing the corporatecharacter of such owner or of any mortgagee or trustee of suchright-of-way or easement. It shall not be necessary to showon the abstract anyprivileged or confidential document or proceeding which is not open forinspection on file or of record in the district court and a failureto show such matters shall not be deemed incompleteness, imperfection orerror on the part of those compiling the abstract. Noabstracter shall be held liable for notshowing such matters and, if the abstracterdoes show them, the abstracter shall not bepermitted to charge compensation therefor unless express request toshow any or all of such matters is made in writing to the abstracter.
(d) Any licensee doing business in more than one county shall furnish anadditional bond for each county where the licensee does business to beexecuted, approved and filed as required by the board. Any license issuedunder the provisions of this act shall be in a form approved by theboard except that such form shall recite that such bond has been filedand approved. No licensee, unless duly licensed to practice law,shall for hire examine and furnish an opinion on an abstract oftitle nor draw wills or other legal instruments not in connection with thelicensee's own business, and for violation thereof,the license shall berevoked.
History: L. 1941, ch. 348, § 3; L. 1945, ch. 259, § 1; L. 1967,ch. 307, § 1; L. 1972, ch. 214, § 1; L. 1973, ch. 224, § 1; L.1976, ch. 145, § 208; L. 1977, ch. 192, § 1; L. 1983, ch. 186, § 2;L. 1989, ch. 166, § 1;L. 2006, ch. 124, § 5; July 1.
Article 28.--EXAMINATION, REGISTRATION, LICENSING AND BONDING OF ABSTRACTERS
58-2802.Bond and insurance requirements;liabilities, limitations;abstracting of certain rights-of-way and easements; additional bond; certainacts prohibited.(a) No license shall be issued to any applicant until theapplicant fileswith the board a bond and a policy ofinsurance as provided in this section. The bond shall be in an amountestablishedby the board of not less than $25,000. Such insurance shall be a policy oferrors and omissions in an amount not less than $25,000, with a deductiblepermitted of not to exceed 10% of the amount of the insurancecoverage, as determined by the abstracters' board of examiners, and shallbe issued by a company authorized to transact business in thestate of Kansas.
(b) If the $25,000liability insurance is unavailable to any applicant, the abstracters'board of examiners may issue a license to the applicant upon (1) theapplicant furnishing a bond in the amount of the total of both theinsurance coverage required under subsection (a) and the amount of the bond requiredfrom the applicant by the board of examiners under subsection (a). Suchbond may be furnished in lieu of filing both the insurancepolicy and the bond required under subsection (a). The applicant shall filea copy of such bond, certified by the chairperson of the board as true andcorrect, with the county clerk of the county for which the bond wasgiven. The bond shall be executed by a surety company authorized to transactbusiness in this state; or (2) the applicant furnishinga bond signed by a sufficient surety to be approved by the board ofexaminers. The bond shall be in the penal sum ofnot less than $5,000 conditioned for paymentby the applicant of any and all actual damages that may be sustained or mayaccrue to any person, firm, corporation or body politic byreason of or on account of any error, deficiency or mistake in anyabstract or continuation thereof made and issued by the applicant. A causeof action for such damages shall not be deemed to have accrueduntil the error, deficiency or mistake giving rise to the cause ofaction first causes substantial injury or, if the fact of injury is notreasonably ascertainable until some time after the initial error,deficiency or mistake, the period of limitation shall not commenceuntil the fact of injury becomes reasonably ascertainable to the injuredparty. In no event shall the period of limitation be extended more than15 years beyond the time of the act giving rise to the cause of action.
(c) In cases where there is filed of record a right-of-way or othereasement grant over or under lands for public utility or private orcommon carrier purposes if the title ofthe instrument or proceeding in condemnation granting or creatingright-of-way or easement, together with a description of the character thereof,the names of the parties thereto,and index and date of recording, is shown onthe abstract, it shall not be necessary to show on the abstract (1) any subsequentmortgages, deeds of trust or other encumbrances of the right-of-way oreasement rights or of fixtures located thereon owned by the holder ofthe right-of-way or easement, or (2) any subsequent releases of such mortgages,deeds of trust or encumbrances, or (3) any documents showing the corporatecharacter of such owner or of any mortgagee or trustee of suchright-of-way or easement. It shall not be necessary to showon the abstract anyprivileged or confidential document or proceeding which is not open forinspection on file or of record in the district court and a failureto show such matters shall not be deemed incompleteness, imperfection orerror on the part of those compiling the abstract. Noabstracter shall be held liable for notshowing such matters and, if the abstracterdoes show them, the abstracter shall not bepermitted to charge compensation therefor unless express request toshow any or all of such matters is made in writing to the abstracter.
(d) Any licensee doing business in more than one county shall furnish anadditional bond for each county where the licensee does business to beexecuted, approved and filed as required by the board. Any license issuedunder the provisions of this act shall be in a form approved by theboard except that such form shall recite that such bond has been filedand approved. No licensee, unless duly licensed to practice law,shall for hire examine and furnish an opinion on an abstract oftitle nor draw wills or other legal instruments not in connection with thelicensee's own business, and for violation thereof,the license shall berevoked.
History: L. 1941, ch. 348, § 3; L. 1945, ch. 259, § 1; L. 1967,ch. 307, § 1; L. 1972, ch. 214, § 1; L. 1973, ch. 224, § 1; L.1976, ch. 145, § 208; L. 1977, ch. 192, § 1; L. 1983, ch. 186, § 2;L. 1989, ch. 166, § 1;L. 2006, ch. 124, § 5; July 1.
