SECTIONS 12415-12417 - California Statutes

INSURANCE CODE

SECTION 12415-12417

12415. It is the intent of the Legislature that certificated title
insurers and licensed underwritten title companies, as defined in
Section 12340.5 shall pay to the commissioner an annual renewal fee,
as provided in Section 12416, in addition to that provided as to
title insurers by Section 705 to cover the costs to the commissioner
for administering and enforcing Article 3.7 (commencing with Section
12389), Article 5.5 (commencing with Section 12401), and Article 6
(commencing with Section 12404) of Chapter 1, Part 6, Division 2 of
this code and other provisions of this code as may be subsequently
incorporated by reference in this article by legislative enactment.
Such fee shall be in lieu of all fees provided for in Article 6
(commencing with Section 12404) of Chapter 1, Part 6, Division 2.

12416. Each certificated title insurer possessing a certificate of
authority of indefinite term pursuant to Section 701 shall owe and
pay an annual renewal fee of four hundred thirteen dollars ($413) in
lawful money of the United States. Each underwritten title company
possessing a license of indefinite term pursuant to Section 12389
shall owe and pay an annual renewal fee of two hundred thirty-six
dollars ($236), except that: (a) where the aggregate number of
documents recorded and documents filed in the offices of the county
recorders in the preceding calendar year in all counties where the
company is licensed to transact business is less than 50,000, such
company shall owe and pay an annual renewal fee of one hundred
eighteen dollars ($118), or (b) where the aggregate number of
documents recorded and documents filed in the offices of the county
recorders in the preceding calendar year in all counties where the
company is licensed to transact business is more than 50,000 but less
than 100,000, such company shall owe and pay an annual renewal fee
of one hundred fifty dollars ($150). Such fees shall be for annual
periods commencing on July 1 of each year and ending on June 30 of
each year, and shall be due on March 1st preceding the annual period
for which such fees are charged, and shall be delinquent on and after
April 1st next following the date when due.

12417. The annual renewal fee provided by this article is not a tax
but a charge for services to be rendered.