Sec. 7. Every company described in section 3 of this chapter, before engaging in business, shall deposit with the department the sum of fifty thousand dollars ($50,000) either out of its capital or surplus. The deposit shall be known as the title insurance fund and must be deposited in securities of the kind and character designated by IC 27-1-13-3(b).
Formerly: Acts 1937, c.104, s.7. As amended by P.L.252-1985, SEC.253; P.L.159-1986, SEC.5; P.L.161-1986, SEC.2; P.L.184-1996, SEC.3.
Structure Indiana Code
Article 7. Special Types of Insurance
Chapter 3. Abstract and Title Insurance
27-7-3-3.5. Requirements Applicable to Issuers of Title Insurance
27-7-3-4. Corporate Rights; Powers and Privileges
27-7-3-6. Certificate of Authority; Requirements; Issuance; Necessity to Do Business
27-7-3-7. Deposits; Title Insurance Fund
27-7-3-8. Additional Deposit to Meet Requirements of Another State; Withdrawal
27-7-3-9. Title Insurance Reserve Fund
27-7-3-10. Deficiency in Title Insurance Reserve Fund
27-7-3-11. Interest on Deposited Securities
27-7-3-13. Examination of Company; Appointment of Examiners; Report of Examination
27-7-3-14. Annual Financial Statement; Effect of Certification by Certified Public Accountant
27-7-3-15. Collection of Charges, Fees, and Taxes; Disposition
27-7-3-18. Exemptions From Chapter
27-7-3-19. Construction of Chapter
27-7-3-20. Limitation on Risks