Notice of authorization
Sec. 12. (a) A title insurance company may authorize an appointed
agent of the title insurance company to execute certificates of release
under this chapter by recording a notice of authorization in the office
of the county recorder for each county in which the duly appointed
agent is authorized to execute and record certificates of release on
behalf of the title insurance company. The notice of authorization
must state the following:
(1) The name of the title insurance company that is authorizing
an appointed agent to execute certificates of release on behalf
of the title insurance company.
(2) The identity of the person who is an appointed agent of the
title insurance company and who is authorized to execute and
record certificates of release in accordance with the
requirements of this chapter on behalf of the title insurance
company.
(3) That the appointed agent has full authority to execute and
record certificates of release in accordance with the
requirements of this chapter on behalf of the title insurance
company.
(b) The notice of authorization must be executed and
acknowledged in the same manner as required by law in Indiana for
the execution and acknowledgment of a deed.
(c) A single notice of authorization recorded in the office of a
county recorder under this section constitutes the authority of the
appointed agent to execute and record certificates of release in that
county on behalf of the title insurance company. A separate notice of
authority is not required for each certificate of release recorded by an
appointed agent.
(d) The authority granted to an appointed agent by a title
insurance company under this section continues until a revocation of
the notice of authorization is recorded in the office of the county
recorder for the county in which the notice of authorization was
recorded.
(e) The delegation of authority to an appointed agent by a title
insurance company under this section does not relieve the title
insurance company of any liability for damages for the wrongful or
erroneous execution and recording of a certificate of release by the
appointed agent.
As added by P.L.2-2002, SEC.14.
Last modified: May 24, 2006