0001| AN ACT | 0002| RELATING TO TITLE INSURANCE; ENACTING THE TITLE INSURANCE GUARANTY | 0003| ACT; AMENDING SECTIONS OF THE NMSA 1978. | 0004| | 0005| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0006| Section 1. SHORT TITLE.--Sections 1 through 18 of this act may | 0007| be cited as the "Title Insurance Guaranty Act". | 0008| Section 2. PURPOSE.--The purpose of the Title Insurance Guaranty | 0009| Act is to provide a mechanism for continuation of coverage and payment | 0010| of covered claims under certain title insurance policies, to avoid | 0011| excessive delay in payment and avoid financial loss to policyholders | 0012| because of insolvency of a title insurer, to assist in detection and | 0013| prevention of title insurer insolvencies and to provide an association | 0014| to assess the cost of such protection among title insurers. | 0015| Section 3. SCOPE.--The Title Insurance Guaranty Act applies to | 0016| all insurers authorized to transact title insurance business in New | 0017| Mexico. | 0018| Section 4. DEFINITIONS.--As used in the Title Insurance Guaranty | 0019| Act: | 0020| A. "account" means an account created by Section 5 of the | 0021| Title Insurance Guaranty Act; | 0022| B. "association" means the title insurance guaranty | 0023| association; | 0024| C. "covered claim" means any unpaid claim of an insured in | 0025| excess of one thousand dollars ($1,000) covered under and not in | 0001| excess of the applicable limits of a title insurance policy insuring | 0002| land located in New Mexico issued by an insolvent insurer, if the | 0003| insurer is found insolvent pursuant to Paragraph (2) of Subsection D | 0004| of this section after the effective date of the Title Insurance | 0005| Guaranty Act. Subject to applicable policy limits, the association's | 0006| liability for covered claims shall not exceed two hundred fifty | 0007| thousand dollars ($250,000) per claim and does not include any amount | 0008| in excess of two hundred fifty thousand dollars ($250,000) per claim. | 0009| The total amount that may be recovered from the association by any one | 0010| claimant for all covered claims shall not exceed five hundred thousand | 0011| dollars ($500,000). "Covered claim" does not include any amount due | 0012| by or for the benefit of any reinsurer, insurer, insurance pool or | 0013| underwriting association, as subrogation recoveries or otherwise; | 0014| provided, that any such claim asserted against a person insured by an | 0015| insolvent insurer that, if it were not a claim by or for the benefit | 0016| of a reinsurer, insurer, insurance pool or underwriting association, | 0017| would be a covered claim, may be filed directly with the receiver of | 0018| the insolvent insurer. In no event may any such claim be asserted in | 0019| any legal or administrative action against the insolvent insurer's | 0020| insured unless that claim is based on the insured's fraud. "Covered | 0021| claim" does not include the amount of any claim that an insured | 0022| recovers from any person, including an agent, regardless of whether an | 0023| assignment is taken. "Covered claim" does not include supplementary | 0024| payment obligations, including but not limited to adjustment fees and | 0025| expenses, attorney's fees and expenses and court costs, nor does it | 0001| include punitive, exemplary, extracontractual or bad-faith damages | 0002| awarded by a court judgment against an insurer; | 0003| D. "insolvent insurer" means an insurer: | 0004| (1) authorized to transact title insurance business | 0005| in New Mexico at the time the title insurance policy was issued; and | 0006| (2) against which an order of liquidation with a | 0007| finding of insolvency has been entered after the effective date of the | 0008| Title Insurance Guaranty Act by a court of competent jurisdiction in | 0009| the insurer's state of domicile, or in this state, which has not been | 0010| stayed or been the subject of a writ of supersedeas or other | 0011| comparable order; | 0012| E. "member insurer" means any insurer authorized to | 0013| transact title insurance business in New Mexico; | 0014| F. "net written premiums" means gross premiums written in | 0015| this state on title insurance policies. "Net written premiums" does | 0016| not include premiums on contracts between insurers or reinsurers; | 0017| G. "person" means an individual or other legal entity; | 0018| H. "superintendent" means the superintendent of insurance; | 0019| and | 0020| I. "title insurance policy" or "policy" means those terms | 0021| as defined in Section 59A-30-3 NMSA 1978 with respect to policies | 0022| issued on land located in New Mexico. | 0023| Section 5. ORGANIZATION OF ASSOCIATION.--All member insurers | 0024| shall remain members of the association as a condition of their | 0025| authority to transact insurance in this state. The association may | 0001| take the form of any appropriate legal entity under New Mexico law, | 0002| including a corporation, partnership or unincorporated association, as | 0003| approved by the superintendent. For purposes of administration and | 0004| assessment, the association shall have two separate accounts: | 0005| A. the administrative account; and | 0006| B. the title guaranty account. | 0007| Section 6. BOARD OF DIRECTORS.-- | 0008| A. The association's board of directors shall consist of | 0009| not less than five nor more than eleven appointed members serving | 0010| terms as provided in the association's plan of operation, and the | 0011| superintendent or his designated representative as an ex-officio | 0012| member. Appointed board members shall be selected by member insurers, | 0013| subject to the superintendent's approval. A majority of the appointed | 0014| members shall be employed by member insurers. Vacancies shall be | 0015| filled for the remaining term by majority vote of the remaining board | 0016| members, subject to the superintendent's approval. | 0017| B. Board members may be reimbursed from the administrative | 0018| account for any reasonable and necessary expenses incurred in their | 0019| capacities as board members, but the amount of such reimbursement | 0020| shall not exceed guidelines provided by the approved plan of | 0021| operation. | 0022| Section 7. DUTIES AND POWERS OF THE ASSOCIATION.-- | 0023| A. The association shall: | 0024| (1) be obligated to the extent of covered claims | 0025| arising from policies of an insolvent insurer issued prior to the | 0001| finding of insolvency, except that the association shall not be | 0002| obligated as to policies replaced by another title insurance policy | 0003| that covers the claim. In no event shall the association be obligated | 0004| to a policyholder in an amount in excess of the obligation of the | 0005| insolvent insurer under the policy; | 0006| (2) be deemed the insolvent insurer to the extent of | 0007| the insurer's obligation on covered claims and to such extent shall | 0008| have all rights, duties and obligations of the insurer as if the | 0009| insurer had not become insolvent; provided that the association shall | 0010| have no liability for any past claims based on negligence of the | 0011| insurer or its agents in searching and reporting the condition of any | 0012| title, on bad faith of the insolvent insurer, on the closing of any | 0013| transaction or for exemplary or punitive damages; | 0014| (3) pay for the administration and operation of the | 0015| association from the administrative account, through proceeds received | 0016| from an annual guaranty fee to be collected in the amounts and manner | 0017| established by regulation of the superintendent; | 0018| (4) allocate claims payments, loss and adjustment | 0019| expense and administrative expense to the appropriate accounts and | 0020| assess member insurers, separately for each account, amounts necessary | 0021| to pay the association's obligations subsequent to any insolvency. | 0022| Assessments shall not be made in any year in which guaranty fee | 0023| proceeds, together with unencumbered account balances and other | 0024| assets, will be sufficient to satisfy the association's obligations. | 0025| Assessments shall be made against each member insurer in the | 0001| proportion that the member insurer's net written premiums for the last | 0002| full calendar year bears to net written premiums of all member | 0003| insurers for that calendar year. Each member insurer shall be | 0004| notified of the assessment not later than thirty days before it is | 0005| due. No member insurer may be assessed in any year an amount greater | 0006| than two percent of that member insurer's net written premiums for the | 0007| preceding calendar year. If it appears that the maximum assessment | 0008| available, together with unencumbered account balances and other | 0009| assets, will be insufficient in any year to make all necessary | 0010| payments, the association's obligations shall be paid pro rata and the | 0011| unpaid portion shall be paid as soon as additional assessment proceeds | 0012| or other funds become available. The association may pay claims in | 0013| any order that it deems reasonable, including payments as claims are | 0014| received or by groups or categories of claims. The association may | 0015| exempt or defer, in whole or in part, the assessment of any member | 0016| insurer if the assessment would cause the member insurer's financial | 0017| statement to reflect amounts of capital or surplus less than the | 0018| minimum amounts required for a certificate of authority in any | 0019| jurisdiction in which the member insurer is authorized to transact | 0020| insurance. Each member insurer acting as a servicing facility may set | 0021| off against any assessment any authorized payments made on covered | 0022| claims and expenses incurred in the payment of the claims by such | 0023| member insurer if they are chargeable to the account for which the | 0024| assessment is made; | 0025| (5) investigate claims and adjust, compromise, settle | 0001| and pay covered claims to the extent of the association's obligations, | 0002| and deny all other claims. The association may review settlements, | 0003| releases and judgments to which the insolvent insurer or its insureds | 0004| are parties to determine the extent to which such settlements, | 0005| releases and judgments may be properly contested; | 0006| (6) notify such persons as the superintendent may | 0007| direct pursuant to Section 9 of the Title Insurance Guaranty Act; | 0008| (7) receive, handle, adjust and pay claims through | 0009| its employees or through one or more insurers or other persons | 0010| designated as servicing facilities, subject to the superintendent's | 0011| approval; provided that a member insurer may decline any such | 0012| designation; | 0013| (8) reimburse each servicing facility for obligations | 0014| of the association paid by the facility and for reasonable expenses | 0015| incurred by the facility for handling claims on behalf of the | 0016| association, and pay other expenses of the association authorized by | 0017| the Title Insurance Guaranty Act; and | 0018| (9) refund excess funds in any account to member | 0019| insurers in proportion to the contribution of each member insurer to | 0020| that account, when the board of directors estimates that the assets in | 0021| the account will exceed the liabilities for the coming year. | 0022| B. The association may: | 0023| (1) employ persons or contract with servicing | 0024| facilities necessary to handle claims and to perform other association | 0025| duties; | 0001| (2) borrow funds necessary to effectuate the purposes | 0002| of the Title Insurance Guaranty Act in accordance with the plan of | 0003| operation, subject to the superintendent's approval; | 0004| (3) sue or be sued, and intervene in any court or | 0005| other forum having jurisdiction over an insolvent insurer or its | 0006| insureds; | 0007| (4) negotiate and enter into contracts necessary to | 0008| carry out the purposes of the Title Insurance Guaranty Act; and | 0009| (5) perform all other acts necessary or proper to | 0010| effectuate the purposes of the Title Insurance Guaranty Act. | 0011| Section 8. PLAN OF OPERATION.-- | 0012| A. The association shall submit to the superintendent a | 0013| plan of operation and any amendments to the plan necessary or suitable | 0014| to assure the fair, reasonable and equitable administration of the | 0015| association. The plan of operation and any amendments shall become | 0016| effective upon the superintendent's written approval. If, at any | 0017| time, the association fails to submit the plan or suitable amendments | 0018| to the superintendent, he shall, after notice and hearing, adopt | 0019| necessary or advisable regulations to effectuate the provisions of the | 0020| Title Insurance Guaranty Act. The regulations shall continue in force | 0021| until the superintendent modifies them or they are superseded by a | 0022| plan or amendments submitted by the association and approved by the | 0023| superintendent. | 0024| B. All member insurers shall comply with the association's | 0025| plan of operation. | 0001| C. The association's plan of operation, among other things, | 0002| shall establish all procedures for conducting the association's | 0003| business, for handling its assets, for receiving, handling, adjusting | 0004| and paying claims, for keeping records and for the conduct of other | 0005| activities necessary to carry out the association's powers and duties. | 0006| D. The association's plan of operation may provide that any | 0007| of the association's powers and duties, except those specified in | 0008| Paragraph (3) of Subsection A and Paragraph (2) of Subsection B of | 0009| Section 7 of the Title Insurance Guaranty Act, be delegated to a | 0010| corporation, association or other organization that performs or will | 0011| perform functions similar to those of the association in two or more | 0012| states. Such a corporation, association or organization shall be | 0013| reimbursed as a servicing facility and paid for performing any other | 0014| function. | 0015| Section 9. DUTIES AND POWERS OF SUPERINTENDENT.-- | 0016| A. The superintendent shall: | 0017| (1) promptly forward to the association a copy of any | 0018| complaint or petition seeking an order of liquidation with a finding | 0019| of insolvency against a title insurer; | 0020| (2) notify the association that a title insurer has | 0021| been found to be an insolvent insurer not later than three days after | 0022| he receives notice of the finding; and | 0023| (3) upon request of the board of directors, provide | 0024| the association with a statement of the net written premiums of each | 0025| member insurer. | 0001| B. The superintendent may: | 0002| (1) require that the association or an insolvent | 0003| insurer's licensed New Mexico agents notify the insurer's New Mexico | 0004| insureds and any other interested parties of the finding of insolvency | 0005| and of their rights under the Title Insurance Guaranty Act. | 0006| Notification shall be made by mail at the last known address; provided | 0007| that if sufficient information for notification by mail is not | 0008| available, notice by publication in one or more newspapers of general | 0009| circulation in the state shall be sufficient; | 0010| (2) suspend or revoke, after notice and hearing, any | 0011| member insurer's certificate of authority if the insurer fails to pay | 0012| any assessment within thirty days after it was due or fails to comply | 0013| with the association's plan of operation. In the alternative, the | 0014| superintendent may impose a civil penalty not to exceed five percent | 0015| of the unpaid assessment per month; provided that no civil penalty | 0016| shall be less than one hundred dollars ($100) per month; and | 0017| (3) revoke the designation of any servicing facility | 0018| if he finds that claims are not being handled satisfactorily. | 0019| Section 10. EFFECT OF PAID CLAIMS.-- | 0020| A. Any person recovering under the Title Insurance Guaranty | 0021| Act shall be deemed to have assigned his rights and claims under the | 0022| insolvent insurer's policy to the association to the extent of his | 0023| recovery from the association. Every insured seeking the protection | 0024| of the Title Insurance Guaranty Act shall cooperate with the | 0025| association to the same extent as required to cooperate with the | 0001| insurer. The association shall have no cause of action against an | 0002| insured for any sums it has paid out except such causes of action as | 0003| the insurer would have had. In the case of an insolvent insurer | 0004| operating on a plan with assessment liability, payments of claims by | 0005| the association do not operate to reduce the liability of the insured | 0006| to the receiver, liquidator or statutory successor for unpaid | 0007| assessments. | 0008| B. The court having jurisdiction shall grant claims | 0009| assigned pursuant to Subsection A of this section and the claims | 0010| expenses of the association or similar organization in another state | 0011| the same priority as the claims had before assignment. The | 0012| association may make application to the court for reimbursement of | 0013| such claims and expenses and, upon proper application, the court shall | 0014| order appropriate disbursement to be made. | 0015| C. The association shall, within the time set by the | 0016| receivership court, file with the receiver or liquidator of the | 0017| insolvent insurer, statements of paid claims and claims expense and | 0018| reserves for unpaid claims and claims expense. | 0019| Section 11. NONDUPLICATION OF RECOVERY.--Any person having a | 0020| claim under any other title insurance policy that is not an insolvent | 0021| insurer's policy, which is also a covered claim, shall first exhaust | 0022| his rights under such other title insurance policy. Any amount | 0023| payable for a covered claim shall be reduced by the amount of any | 0024| recovery under such other title insurance policy. | 0025| Section 12. PREVENTION OF INSOLVENCIES.-- | 0001| A. To aid in the detection and prevention of title insurer | 0002| insolvencies, the association's board of directors may, upon majority | 0003| vote: | 0004| (1) make recommendations to the superintendent for | 0005| the detection and prevention of insolvencies; and | 0006| (2) respond to requests by the superintendent to | 0007| discuss and make recommendations regarding the status of any member | 0008| insurer whose financial condition may be hazardous to policyholders or | 0009| the public. Recommendations pursuant to this paragraph shall not be | 0010| available for public inspection. | 0011| B. The superintendent shall report to the association's | 0012| board of directors when he has reasonable cause to believe that any | 0013| title insurer may be insolvent or in a financial condition hazardous | 0014| to its policyholders or the public. The report, and any subsequent | 0015| meetings, activities, recommendations and decisions of the board of | 0016| directors as required or permitted in this subsection, shall not be | 0017| open to the public or available for public inspection. | 0018| C. At the conclusion of any domestic title insurer | 0019| insolvency for which the association was obligated to pay covered | 0020| claims, the association's board of directors may prepare a report on | 0021| the history and causes of such insolvency, based on the information | 0022| available to the association, and submit the report to the | 0023| superintendent. The report, and any subsequent meetings, activities, | 0024| recommendations and decisions of the board of directors as required or | 0025| permitted in this section, shall not be open to the public or | 0001| available for public inspection. | 0002| Section 13. EXAMINATION OF ASSOCIATION--FINANCIAL REPORTS.--The | 0003| association is subject to the superintendent's examination and | 0004| regulation pursuant to Chapter 59A, Article 4 NMSA 1978. The board of | 0005| directors shall submit, not later than June 30 each year, a financial | 0006| report for the preceding calendar year prepared by an independent | 0007| certified public accountant acceptable to the superintendent. The | 0008| financial report shall be in a form approved by the superintendent. | 0009| Section 14. APPEALS.-- | 0010| A. Any insured whose claim is denied in whole or in part by | 0011| the association may request the receivership court, or the ancillary | 0012| receivership court in this state, to review the association's | 0013| decision. The request for review shall be filed within thirty days | 0014| after the date of denial. The receivership court and ancillary | 0015| receivership court in this state shall have exclusive jurisdiction of | 0016| all such claims. The decision of the court shall be binding on both | 0017| the claimant and the association. | 0018| B. Any member insurer may appeal to the superintendent from | 0019| any action of the association's board of directors by filing a notice | 0020| of appeal within thirty days after the date of the action appealed | 0021| from. | 0022| C. Any final order of the superintendent pursuant to | 0023| Subsection B of this section is subject to judicial review by an | 0024| action in the district court of Santa Fe county to set aside the order | 0025| as unlawful or not supported by substantial evidence. If judicial | 0001| review is not sought within thirty days after the date of the | 0002| superintendent's order, the order shall be final and not subject to | 0003| appeal. | 0004| Section 15. RECOGNITION OF ASSESSMENT IN RATES.--The title | 0005| insurance rates and premiums promulgated by the superintendent shall | 0006| include amounts sufficient to recoup within three years after | 0007| assessment a sum equal to the amounts paid to the association by the | 0008| member insurers, less any amounts returned to the member insurers by | 0009| the association. Rates shall not be deemed excessive because they | 0010| contain an amount reasonably calculated to recoup assessments paid by | 0011| the member insurers. The entire amount of any such recoupment shall | 0012| be passed through to insurers. | 0013| Section 16. IMMUNITY--CONFIDENTIALITY.-- | 0014| A. There shall be no liability on the part of, and no cause | 0015| of action of any nature shall exist against, any member insurer, the | 0016| association or its agents or employees, the board of directors, any | 0017| individual director or the superintendent or his representative for | 0018| any action taken by them in connection with carrying out their powers | 0019| and duties under the Title Insurance Guaranty Act or failure to | 0020| prevent any insolvency. The association shall defend all actions | 0021| alleging such liability except that the attorney general shall defend | 0022| any such actions against the superintendent or his representatives. | 0023| B. The meetings, activities, recommendations and decisions | 0024| of the board of directors pursuant to the Title Insurance Guaranty Act | 0025| shall not be open to the public or available for public inspection; | 0001| provided that no representative of a member insurer shall be excluded | 0002| from any meeting of the board of directors, with the exception of any | 0003| representative of an insolvent insurer. | 0004| Section 17. STAY OF PROCEEDINGS--REOPENING OF DEFAULT | 0005| JUDGMENTS.--All proceedings in which the insolvent insurer is a party | 0006| or is obligated to represent a party in any court in New Mexico shall | 0007| be stayed for not to exceed six months from the date of a finding of | 0008| insolvency to permit proper representation by the association of all | 0009| pending causes of action. As to any covered claims arising from a | 0010| judgment under any decision, verdict or finding resulting from the | 0011| default of the insolvent insurer or its failure to defend an insured, | 0012| the association, either on its own behalf or on behalf of the insured, | 0013| may apply to have the judgment, order, decision, verdict or finding | 0014| set aside by the same court, administrator or arbitrator that made it | 0015| and may defend against the claim on its merits. | 0016| Section 18. TERMINATION--DISTRIBUTION OF FUNDS.-- | 0017| A. The superintendent shall by order terminate the | 0018| operation of the association if he finds, after hearing, that there is | 0019| in effect a statutory or voluntary plan that: | 0020| (1) is a permanent plan that is adequately funded or | 0021| for which an adequate means of funding is provided; and | 0022| (2) extends or will extend, to New Mexico title | 0023| insurance policyholders and residents, protection and benefits with | 0024| respect to insolvent insurers not less favorable than the protection | 0025| provided under the Title Insurance Guaranty Act. | 0001| B. If the association's operation is terminated, the | 0002| association, as soon as possible, shall distribute the balance of | 0003| money and assets remaining, after discharge of the functions of the | 0004| association with respect to prior insurer insolvencies not covered by | 0005| another plan, to member insurers that are then writing title insurance | 0006| policies in this state, pro rata upon the basis of the aggregate of | 0007| payments and assessments made by the respective insurers during the | 0008| five years next preceding the date of the order. | 0009| Section 19. Section 59A-30-6 NMSA 1978 (being Laws 1985, Chapter | 0010| 28, Section 6) is amended to read: | 0011| "59A-30-6. PREMIUMS--AGENCY AGREEMENTS--DUTY TO FIX | 0012| RATES--EXCEPTION.-- | 0013| A. The superintendent shall promulgate the premium rates of | 0014| title insurers and title insurance agents for title insurance policies | 0015| and the percentage of premium to be retained by title insurers under | 0016| agency agreements, except that premium rates for reinsurance as | 0017| between title insurers shall not be promulgated by the superintendent. | 0018| No premium that has not been promulgated by the superintendent shall | 0019| be charged for any title insurance policy. The superintendent shall | 0020| not promulgate charges of title insurers and title insurance agents | 0021| other than premium rates for title insurance policies and the | 0022| percentage of premium to be retained by title insurers under agency | 0023| agreements. | 0024| B. The superintendent shall promulgate additional premium | 0025| rates for searches or examinations of title conducted or performed for | 0001| the purpose of issuance of a title insurance policy when the search or | 0002| examination involves more than one chain of title or other unusual | 0003| complexity. | 0004| C. Premium rates promulgated by the superintendent shall | 0005| not be excessive, inadequate or unfairly discriminatory and shall | 0006| contain an allowance permitting a profit that is not unreasonable in | 0007| relation to the riskiness of the business of title insurance. Premium | 0008| rates shall include an allowance for recoupment of assessments made | 0009| pursuant to the Title Insurance Guaranty Act." | 0010| Section 20. Section 59A-30-11 NMSA 1978 (being Laws 1985, | 0011| Chapter 28, Section 11) is amended to read: | 0012| "59A-30-11. UNDERWRITING STANDARDS AND RECORD RETENTION.-- | 0013| A. No title insurance policy may be written unless the | 0014| title insurer or its title insurance agent has caused to be conducted | 0015| a reasonable search and examination of the title using an abstract | 0016| plant meeting the requirements of Section 59A-12-13 NMSA 1978 and has | 0017| caused to be made a determination of insurability of title in | 0018| accordance with sound underwriting practices. The duty to search and | 0019| examine imposed by this section is solely for the purpose of enhancing | 0020| the financial stability of title insurers for the benefit of insureds | 0021| under title insurance policies. The New Mexico Title Insurance Law is | 0022| not intended and should not be construed to create any duty to search | 0023| and examine that runs to the benefit of, or to create any right or | 0024| cause of action in favor of, any person other than a title insurer. | 0025| B. Evidence of the examination of title and determination | 0001| of insurability shall be preserved and retained in the files of the | 0002| title insurer or its title insurance agent for a period of not less | 0003| than fifteen years after the title insurance policy has been issued. | 0004| Instead of retaining the original evidence, the title insurer or title | 0005| insurance agent may in the regular course of business establish a | 0006| system whereby all or part of the evidence is recorded, copied or | 0007| reproduced by any process that accurately and legibly reproduces or | 0008| forms a durable medium for reproducing the contents of the original. | 0009| This subsection shall not apply to: | 0010| (1) a title insurer assuming liability through a | 0011| contract of reinsurance; or | 0012| (2) a title insurer acting as coinsurer if one of the | 0013| other coinsuring title insurers has complied with this section." | 0014| Section 21. Section 59A-30-14 NMSA 1978 (being Laws 1985, | 0015| Chapter 28, Section 14) is amended to read: | 0016| "59A-30-14. OTHER PROVISIONS APPLICABLE.--To the extent not in | 0017| conflict with the New Mexico Title Insurance Law, the following | 0018| articles and provisions of the Insurance Code shall also apply to | 0019| title insurers, title insurance agents and the business of title | 0020| insurance: | 0021| Article 1. Scope of Code; Initial Definitions; General | 0022| Penalty. | 0023| Article 2. Department of Insurance. | 0024| Article 3. State Insurance Board. | 0025| Article 4. Examinations, Hearings and Appeals. | 0001| Article 5. Authorization of Insurers and General | 0002| Requirements. | 0003| Article 6. Fees and Taxes. | 0004| Article 7. Kinds of Insurance; Limits of Risk; Reinsurance. | 0005| Article 8. Assets and Liabilities. | 0006| Article 9. Investments. | 0007| Article 10. Administration of Deposits; Trusteed Assets of | 0008| Alien Insurer. | 0009| Article 11. Licensing Procedures, Agents, Solicitors, | 0010| Brokers, Adjusters and Others. | 0011| Article 12. Insurance Agents, Brokers and Solicitors. | 0012| Article 15. Unauthorized Insurers. | 0013| Article 16. Trade Practices and Frauds. | 0014| Article 34. Domestic and Mutual Insurers. | 0015| Article 37. Insurance Holding Companies. | 0016| Title Insurance Guaranty Act." |