26.1-20-05. Title evidence - Examination.
123 words·~1 min read·
/nd/title-26-1/chapter-26-1-20/26-1-20-05·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A domestic corporation organized for the purpose of insuring title to real property in this state or of insuring against loss by reason of defective titles to real property, or encumbrances on real property, or a foreign corporation authorized to do business in this state, may not issue any policy, binder, or certificate unless it has secured from a person, firm, or corporation holding a certificate of authority under chapter 43-01 the record title evidence of the title to be insured, and the title evidence has been examined by a person duly admitted to the practice of law as provided by chapter 27-11.
The certificate of authority of any corporation violating this section must be revoked as provided by chapter 26.1-02 or 26.1-11.