Section 6401. Definitions

In this article, the following definitions apply
  except as otherwise specified:
    (a) "Title insurance corporation" means a corporation  exercising  any
  of  the  powers  described  in paragraph one or two of subsection (b) of
  section six thousand four hundred three of this article.
    (b) "Title insurance policy" means any policy or contract insuring  or
  guaranteeing  the  owners  of  real property and chattels real and other
  persons interested therein, or having liens  thereon,  against  loss  by
  reason of encumbrances thereon and defective titles.