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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 11. TITLE INSURANCE |
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Subtitle E. THE BUSINESS OF TITLE INSURANCE |
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Chapter 2704. ISSUANCE OF POLICY OR CONTRACT; DETERMINATION OF INSURABILITY |
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Subchapter A. GENERAL PROVISIONS |
Sec. 2704.001. ISSUANCE OF POLICY OR CONTRACT
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A title insurance policy or contract may not be written unless:
(1) Sections 2502.053, 2502.054, and 2502.055 have been complied with;
(2) the policy or contract is based on an examination of title made from title evidence prepared from an abstract plant owned, or leased and operated by a title insurance agent or direct operation for the county in which the real property is located, except as provided by Section 2704.002;
(3) insurability of title has been determined in accordance with sound title underwriting practices; and
(4) evidence thereof is preserved and retained in the files of the title insurance company, title insurance agent, or direct operation for a period of not less than 15 years after the date of issuance of the policy or contract.