Section 416-A:8 Prohibitions.
I. A title insurance company shall not:
(a) Engage in the business of guaranteeing the payment of the principal or the interest of bonds, notes, or other obligations.
(b) Transact, underwrite, or issue any kind of insurance other than title insurance.
II. A title insurance company or a title insurance agent shall not:
(a) Give or receive or attempt to give or receive remuneration in any form pursuant to any agreement or understanding, oral or otherwise, for the referral of title insurance business.
(b) Give or receive or attempt to give or receive any portion or percentage of any charge made or received in connection with the business of title insurance if such portion or percentage of the charge given or received is not for services actually rendered. For purposes of this chapter, ""services actually rendered'' shall include, but not be limited to, a reasonable examination of a title, including instruments of record, and a determination of insurability of such title in accordance with sound underwriting practices. ""Services actually rendered'' shall not include the mere referral of title insurance business.
Source. 1971, 561:1, eff. Sept. 10, 1971. 2006, 196:9, eff. July 30, 2006. 2009, 38:1, eff. July 14, 2009.