§36-5002. Investments of title insurers.
212 words·~1 min read·
/ok/title-36-insurance/36-5002·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. A domestic title insurer shall invest its capital accumulations, up to the sum of One Hundred Thousand Dollars ($100,000.00), in capital investments as defined in Section 1606 of Article 16 (Investments), but subject to the exception in subsection B of this section, below.
B. A domestic title insurer may invest its capital and accumulations in excess of One Hundred Thousand Dollars ($100,000.00) in such investments as are made eligible for funds of domestic insurers by Article 16; except, that any such insurer may invest an amount not exceeding fifty percent (50%) of its combined capital and surplus in the preparation and purchase of material or
plants or both necessary to enable it to engage in the business of title insurance, and such materials and plants shall be deemed to be capital funds investments and shall be valued as the actual cost thereof.
C. Domestic title insurers shall not be subject to the limitations as to amount invested in real estate for home office and branch office purposes contained in paragraph 1 of Section 1624 of Article 16. Added by Laws 1957, p. 407, § 5002, operative July 1, 1957. Amended by Laws 2008, c. 184, § 21, eff. July 1, 2008; Laws 2009, c. 176, § 35, eff. Nov. 1, 2009.