Definition of Joint Plant

Home Bulletins bulletins – 1995 B-145 BULLETIN NO. 145 January 15, 1974 To:   ALL TITLE INSURANCE COMPANIES LICENSED TO DO BUSINESS IN THE STATE OF TEXAS, AND ALL AGENTS THEREOF. Re:   DEFINITION OF JOINT PLANT The Commissioner of Insurance has had presented to him the question of whether or not the provisions of Rule P-12c includes the combined operations of an abstract plant where neither one or only one of the companies producing that plant has heretofore held a license as an agent in such county. After consideration of the matter, the Commissioner of Insurance has decided that the use of the word "companies" in such section is broad enough to include an entity that does not at the time of building such plant hold a license as an agent for the county concerned. Therefore, any two or more entities, whether both are presently licensed or not may undertake to build abstract plants wherein both participants in the building of such plants may obtain agent's licenses after the construction of such joint plant provided they otherwise meet the requirements of such rule. /s/ Ira M. Goodrich IRA M. GOODRICH Director of Title Insurance IMG:kac For more information, contact: ChiefClerk@tdi.texas.gov