Title 41 — INSURANCE

41-2701. Scope of chapter. This chapter applies only as to title insurance, as defined in section 41-508.

41-2702. Countersignature of policies. A title insurer shall not issue a policy of title insurance or guaranteed certificate of title or other guaranty of title covering any property located within Idaho unless countersigned by a person, partnership, corporation or agency owning …

41-2703. Other provisions especially applicable. The following other provisions of this code are, among other provisions, especially applicable as to title insurers: (1) Insuring powers, sections 41-312(3) and 41-508. (2) Capital funds required, section 41-313. (3) Deposit of tit…

41-2704. Application of act — Business of title insurance. The provisions of chapter 27, title 41, Idaho Code, shall apply to all title insurance companies, title insurance rating organizations, title insurance agents, applicants for title insurance, policyholders and to all pers…

41-2705. Supervision — Policy forms — Premiums. (1) The business of title insurance shall operate in Idaho under the control and supervision of the director of the department of insurance as to the premium rates for basic classifications of policy and underwriting contracts in re…

41-2706. Title insurance rates — Justification. Title insurance premium rates for the basic classification of policies and underwriting contracts shall be those filed by a title insurer or a title insurance rating organization with justification and approved by order of the direc…

41-2707. Filing of title insurance rates — Hearings. (1) Pursuant to such regulations as the director of the department of insurance may adopt, every title insurer or rating organization shall file with the director of the department of insurance its schedule of rates, basic clas…

41-2708. Determination of insurability — Prohibited risks — Rebates. (1) Insurability. No title insurance on real property in the state of Idaho shall be issued unless and until the title insurer or its agent: (a) Owns or leases, separately or jointly with another, tract indexes …

41-2709. Personal or controlled insurance. (1) Personal or controlled insurance means a policy of title insurance where the insured or one (1) of the insureds under such policy is, or the loss thereunder is payable to: (a) the title insurer issuing such policy or to any person or…

41-2710. Requirements for agents. (1) A title insurance agent is a person owning or leasing separately or with another licensed agent a complete set of tract indexes and abstract records of each county for which policies are written and authorized in writing by a title insurer to…

41-2711. Requirements for title insurance related business — Bonds. An escrow officer is an officer or an employee of a title insurance agent whose duties include any of the following: handling escrows, settlements, closings, and funds related thereto, except there are not to be …

41-2712. Title insurance rating organization. (1) Finding. There are at the present time more than twelve (12) title insurers to which this chapter applies. Reasonable competition exists among said insurers with respect to classes of insurance written on titles. Said title insure…

41-2713. Administration — Examination costs. In the exercise of the powers of the director of the department of insurance to supervise and regulate title insurers, title insurance agents and title insurance rating organizations as provided in this chapter, as well as the powers o…

41-2714. closing or settlement protection. (1) A title insurer may issue closing or settlement protection to a buyer, borrower or lender that is a party to a transaction in which a title insurance policy will be issued. The closing or settlement protection shall be on a form file…