A. Any foreign or domestic stock insurer authorized by its corporate charter to engage in business as a title insurer shall be entitled to the issuance of a certificate of authority as a title insurer in this state upon meeting the applicable requirements of Article 6, Authorization of Insurers and General Requirements, of the Oklahoma Insurance Code, except that existing title insurers may have their certificate of authority renewed by maintaining surplus in regard to policyholders of not less than Five Hundred Thousand Dollars ($500,000.00).

B. A person engaged in the business of preparing or issuing abstracts of, but not guaranteeing or insuring, title to property, or a person acting only as a title insurance producer appointed by a title insurer, shall not be deemed to be a title insurer.

C. Every commitment and policy of title insurance issued by any insurance company authorized to do business in this state shall be countersigned by some person, partnership, corporation or agency actively engaged in the real estate title business and maintaining an office in the state, who is a duly appointed a title insurance producer for a title insurance company holding a valid license and authorized to do business in the state; provided, that no commitment or policy of title insurance shall be issued in the State of Oklahoma except:

1. After examination by an attorney licensed to practice in this state of a duly certified abstract extension or supplemental abstract prepared by an abstractor licensed in the county where the property is located, from a certified abstract plant in the county where the property is located or per a temporary certificate of authority as provided in Section 33 of Title 1 of the Oklahoma Statutes, from the effective date of a prior owner's policy of title insurance issued by a title insurer licensed in this state provided by the insured, the prior title insurance producer or the prior title insurer, at the time a valid order is placed pursuant to the provisions of the Oklahoma Abstractors Law brought forward to the effective date of the abstract plant. Subject to the conditions and stipulations, the exclusions from coverage, exceptions from coverage and endorsements to the policy, any policy issued based on a prior owner's policy and a supplemental abstract shall insure the insured against loss or damage sustained or incurred by reason of unmarketability of title from sovereignty to the effective date of the policy, not to exceed the amount of insurance stated in the policy; or

2. If a prior owner's policy of title insurance is not provided, then a title insurance commitment and policy may be issued after examination by an attorney licensed to practice in this state of a duly certified abstract of title prepared by a bonded and licensed abstractor as defined in the Oklahoma Abstractors Law.

D. If the current owner or insured, or the owner's or insured's authorized agent requests, in writing, a copy of any previously issued owner's policy, the title insurance producer or the title insurer that issued the policy shall provide the requesting party with a copy of the schedules in the previously issued policy, at no charge, within three (3) business days, unless there exists an unavoidable delay.

E. As used in this section, the term "representative" shall mean a person authorized to act on behalf of or in place of another in the current transaction.

F. Every title insurance producer, title insurer or person who conducts a real estate closing that presents, for filing in the office of the county clerk, an instrument of conveyance or vesting title in connection with a transaction in which an owner's policy of title insurance is to be issued by a title insurance producer or title insurer that is based upon such instrument shall place a legend within the instrument that sets forth the following information:

Deed presented for filing by: [Name of title insurance producer, title insurer or person conducting closing]

File Number: [File Number of title insurance producer, title insurer or person conducting closing]

[Name of Title Insurer designated in the Commitment for Title Insurance]

G. The Insurance Department shall maintain, for each title insurance producer or title insurer holding a valid license and authorized to do business in the state, contact information for the office or person responsible for making available copies of owner's policies pursuant to this statute and shall make such contact information generally available to the public on its website and by telephone request.

H. The Insurance Commissioner may promulgate rules and regulations to carry out the provisions of this section.

Historical Data

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Laws 1957, HB 501, p. 407, § 5001; Amended by Laws 1959, HB 785, p. 138, § 1; Amended by Laws 1980, SB 511, c. 185, § 7, eff. October 1, 1980; Amended by Laws 2006, HB 3009, c. 269, § 1, eff. July 1, 2007 (superseded document available); Amended by Laws 2013, HB 1767, c. 64, § 1, eff. November 1, 2013 (superseded document available); Amended by Laws 2017, HB 2303, c. 148, § 2, eff. November 1, 2017 (superseded document available); amended by Laws 2018, HB 2941, c. 285, § 1, eff. November 1, 2018 (superseded document available); Amended by Laws 2024, HB 1506, c. 10, § 1, eff. November 1, 2024 (superseded document available).

Citationizer^® Summary of Documents Citing This Document

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Cite	Name	Level
Oklahoma Attorney General's Opinions
	Cite	Name	Level
	1982 OK AG 46,	Question Submitted by: The Honorable Dorothy D. Conaghan, Oklahoma House of Representatives	Discussed at Length
	1983 OK AG 281,	Question Submitted by: The Honorable John L. Clifton, Oklahoma State Senate	Discussed at Length
Oklahoma Court of Civil Appeals Cases
	Cite	Name	Level
	1991 OK CIV APP 58, 815 P.2d 1219, 62 OBJ 3041,	American Title Ins. Co. v. M-H Enterprises	Discussed
	2016 OK CIV APP 60, 385 P.3d 670,	CHOATE v. LAWYERS TITLE INSURANCE CORP.	Discussed at Length
Title 1. Abstracting
	Cite	Name	Level
	1 O.S. 43,	Option to Retain Property Abstract	Cited

Citationizer: Table of Authority

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Cite	Name	Level
Title 1. Abstracting
	Cite	Name	Level
	1 O.S. 33,	Repeated Violations - Temporary Certificates of Authority	Cited
Title 36. Insurance
	Cite	Name	Level
	36 O.S. 5001,	Qualifications of Title Insurers	Cited
	36 O.S. 5001,	Qualifications of Title Insurers - Issuance of Title Insurance Policy or Certificate of Title	Cited
	36 O.S. 5001,	Qualifications of Title Insurers - Issuance of Title Insurance Policy or Certificate of Title - Defining Agent	Cited