§ 12396. — 12396. (Added by Stats. 1989, Ch. 344, Sec. 1.)

California § 12396.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 2.: DIVISION 2. CLASSES OF INSURANCE
• Part 6.: PART 6. INSURANCE COVERING LAND
• Ch. 1.: CHAPTER 1. Title Insurance
• Art. 4.5.: ARTICLE 4.5. Business Plans

Text

(a)
For purposes of this article, “controlled business source” means an affiliate, as defined in subdivision (a) of Section 1215, of any title insurer, controlled escrow company, or underwritten title company.
(b)
For purposes of this article:
(1)
“License” means a securities permit issued to a title insurance entity, a license to operate as an underwritten title company, or a certificate of authority to act as a title insurer.
(2)
“Licensee”
means the holder of a license.
(c)
For purposes of this article, a title order shall be deemed to emanate from a controlled business source if the controlled business source is acting in the capacity of a principal, lender, representative, or agent of any of the parties to the transaction, or any other person or entity with which the reporting entity has an agreement, written or otherwise, whereby title orders are traded or otherwise exchanged in order to achieve compliance with this article.

Legislative History

Added by Stats. 1989, Ch. 344, Sec. 1.