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- Alaska Statutes.
- Title 21. Insurance
- Chapter 66. Title Insurance Companies
- Section 170. Determination of Insurability Required.
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. General Powers.
AS 21.66.170. Determination of Insurability Required.
- (a) A policy or contract of title insurance may not be written until the title insurance company conducts or has conducted
a reasonable search and examination of the title and has made a determination of insurability of title in accordance
with its established underwriting practices. Evidence of the determination shall be preserved and retained in the files
of the title insurance company or its agent for a period of not less than 15 years after the policy or contract of
title insurance has been issued. In lieu of retaining the original evidence, the title insurance company or the title
insurance limited producer, may, in the regular course of business, establish a system by which all or part of these
writings are recorded, copied, or reproduced by any photographic, photostatic, microfilm, microcard, miniature
photographic, or other process that accurately reproduces or forms a durable medium for reproducing the original.
- (b) This section does not apply to (1) a company assuming no primary liability in a contract of reinsurance; or (2) a
company acting as a co-insurer if one of the other co-insuring companies has complied with this section.
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