(a) Each title insurer may engage in the title insurance business in this State if licensed to do so by the commissioner.
(b) Each domestic title insurer may issue policies and may also insure:
(1) The identity, due execution, and validity of any note or bond secured by mortgage;
(2) The identity, due execution, validity, recording of any such mortgage; and
(3) The identity, due execution, and validity of evidences of indebtedness issued by this State, by any political subdivision or district therein, or by any private or public corporation.