Scope and Definitions

PURPOSE: This rule sets out the scope of the rules in this chapter and provides definitions to aid in the interpretation of the rules in this chapter. (1) Applicability of Rules. The rules in this chapter apply to title agents and title agencies transacting the business of insurance in this state under Chapter 381, RSMo, including those licensed as insurance producers under section 375.018, RSMo. The rules shall be read together with Chapter 536, RSMo. (2) Definitions. (A) “Director,” the director of the department; (B) “Department,” the Department of Commerce and Insurance; (C) “Insurer” or “title insurer,” an insurance company organized under the laws of this state, or another state or country, and transacting the business of title insurance in this state; (D) “License,” the authority granted by the director to any person to transact business as a title agent or title agency; (E) “Licensee,” a person authorized under an insurance producer license by this state to act as a title agent or title agency; (F) “NAIC,” the National Association of Insurance Commissioners; (G) “NIPR,” the National Insurance Producer Registry; (H) “Title agency,” any partnership, corporation, association, sole proprietorship, or any other legal entity not an individual, which as an agent of a title insurer or representative of the title agent or agency, transacts the business of title insurance; and (I) “Title agent,” any individual, who as an agent of a title insurer or representative of the title agent or agency, transacts the business of title insurance. AUTHORITY: section 374.045, RSMo 2000 and sections 381.042 and 381.115, RSMo Supp. 2007.* Original rule filed Jan. 17, 2008, effective Sept. 30, 2008. Non-substantive change filed Sept. 11, 2019, published Oct. 31, 2019. *Original authority: 374.045, RSMo 1967, amended 1993, 1995; 381.042, RSMo 2000, amended 2007; and 381.115, RSMo 2000, amended 2007.