56-35-130 - Accounts and records. - Tennessee Statutes

56-35-130. Accounts and records.

Every title insurance company, agency and agent shall:

     (1)  Keep books of account and records and vouchers pertaining to the business of title insurance in such a manner that the commissioner or the commissioner's authorized representative may readily ascertain whether the company, agency or agent has complied with any and all applicable laws and regulations; and

     (2)  Maintain a separate record of all receipts and disbursements made while handling escrows, settlements and closings in connection with the business of title insurance and shall establish a separate account for the handling of funds received in the course of the transactions.

[Acts 1980, ch. 857, § 13.]