56-35-103 - Powers of title companies. - Tennessee Statutes

56-35-103. Powers of title companies.

Every corporation complying with this chapter has, in addition to the powers and authority under its charter and existing laws applicable to the company, the following additional authority:

     (1)  To own, lease or construct abstract or title plants, and operate and maintain the same, and make, certify, guarantee and issue abstracts of title; and

     (2)  To act as escrow agent in connection with any transaction relating to the purchase, sale, exchange, lease, mortgage or other acquisition, disposition or encumbrance of property, real or personal, or any interest therein.

[Acts 1955, ch. 173, § 2; T.C.A., § 56-3403.]