CHAPTER 20:36:07
TITLE INSURANCE TITLE SEARCHES
Section
20:36:07:01 Title search required for countersignature.
20:36:07:01.01 Report of findings.
20:36:07:02 Title search requirements.
20:36:07:03 Copies of searches to be kept.
20:36:07:01. Title search required for countersignature. An abstracter shall search the records contained in the abstracter's plant and in the courthouse which relate to the property being insured before he countersigns a policy of or commitment for title insurance pursuant to SDCL 58-25-16.
Source: 7 SDR 72, effective February 1, 1981; 12 SDR 151, 12 SDR 155, effective July 1, 1986.
General Authority: SDCL 36-13-6, 36-13-25.
Law Implemented: SDCL 36-13-25, 36-13-26.1.
20:36:07:01.01. Report of findings. Upon completion of the
search as required in § 20:36:07:01, the abstracter may report its
findings on a Search Report or Certificate as determined and published by the
Abstracters' Board of Examiners.
Source:
34 SDR 73, effective September 17, 2007.
General
Authority: SDCL 36-13-6.
Law
Implemented: SDCL 36-13-26.1.
20:36:07:02. Title search requirements. The title search required for a commitment for or policy of title insurance shall be made under the direction of an abstracter licensed in the county in which the property is located, who shall countersign the title insurance policy pursuant to SDCL 58-25-16.
The results of the search shall be forwarded to the agent or company that is to issue the policy in the same order of business as is normally conducted by the abstracter. Delays in the search or reporting shall be cause for complaint and disciplinary proceedings by the abstracter's board of examiners.
Source: 7 SDR 72, effective February 1, 1981; 12 SDR 151, 12 SDR 155, effective July 1, 1986.
General Authority: SDCL 36-13-6, 36-13-25.
Law Implemented: SDCL 36-13-13, 36-13-25, 36-13-26.1, 58-25-16.
20:36:07:03. Copies of searches to be kept. Copies of all searches provided to a title insurance agent or company under this chapter shall be kept in the files of the abstracter.
Source: 7 SDR 72, effective February 1, 1981; 12 SDR 151, 12 SDR 155, effective July 1, 1986.
