Evidence of the examination of title and determination of insurability for title insurance business written by a title insurer and records relating to escrow and security deposits shall be preserved and retained by the title insurer for as long as appropriate to the circumstances but, in no event, less than fifteen years after the title insurance policy has been issued or ten years after the escrow or security deposit account has been closed. This section shall not apply to a title insurer acting as coinsurer if one of the other coinsurers has complied with this section.
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