(a) In this article, “title insurance company” means an organization authorized to conduct the business of insuring titles to real property in this state.
(b) The following may serve as a satisfaction agent under this article:(1) a title insurance company, acting directly or through an agent authorized to sign and submit for recording an affidavit of satisfaction; or(2) an attorney licensed to practice law in this state and in good standing.
(1) a title insurance company, acting directly or through an agent authorized to sign and submit for recording an affidavit of satisfaction; or
(2) an attorney licensed to practice law in this state and in good standing.
(c) The Office of the Lieutenant Governor and the Banking Board may establish registration, bonding, and other standards for conducting business as a satisfaction agent.