California Insurance Code ARTICLE 1 - Definitions

• Section 12340.
  The definitions set forth in this article shall govern the construction of the terms used in this chapter, but shall not affect any other provisions...
• Section 12340.1.
  “Title insurance” means insuring, guaranteeing or indemnifying owners of real or personal property or the holders of liens or encumbrances thereon or others interested therein...
• Section 12340.2.
  “Title policy” means any written instrument or contract by means of which title insurance liability is assumed.(Added by Stats. 1973, Ch. 1130.)
• Section 12340.3.
  “Business of title insurance” includes:(a) Issuing or proposing to issue any title policy as insurer, guarantor, or indemnitor;(b) Transacting or proposing to transact any phase of title...
• Section 12340.4.
  “Title insurer” means any company issuing title policies as insurer, guarantor or indemnitor.“Domestic title insurer” means any title insurer organized under the laws of this...
• Section 12340.5.
  “Underwritten title company” means any corporation engaged in the business of preparing title searches, title examinations, title reports, certificates or abstracts of title upon the...
• Section 12340.6.
  (a) “Controlled escrow company” means any person, other than a title insurer or underwritten title company, whose principal business is the handling of escrows of real...
• Section 12340.7.
  Except as provided in Section 12401.8, and excluding miscellaneous charges, “rate” or “rates” means the charge or charges, whether denominated premium or otherwise, made to...
• Section 12340.8.
  “Advisory organization” means every person or entity (other than a title insurer, underwritten title company, or controlled escrow company) which recommends or prepares policy forms...
• Section 12340.9.
  “Willful” or “willfully” in relation to an act or omission which constitutes a violation of this chapter means with actual knowledge or belief that such...
• Section 12340.10.a.
  “Abstract of title” is a written representation, provided pursuant to a contract, whether written or oral, intended to be relied upon by the person who...
• Section 12340.11.
  “Preliminary report”, “commitment”, or “binder” are reports furnished in connection with an application for title insurance and are offers to issue a title policy subject...
• Section 12340.13.
  “Business location” means a facility or other place of business in this state where an underwritten title company or controlled escrow company engages in the...
• Section 12342.
  For purposes of this chapter, “holders of liens or encumbrances” includes, but is not limited to, the institutional third parties described in Sections 1452 and...

Last modified: October 22, 2018