Filing requirements.

The original of the executed notice waiver shall be filed with the title insurance company insuring the title to the mortgagee and kept on file for a period of not less than 20 years after the policy of title insurance issued to the mortgagee lender has been issued. In lieu of retaining the original copy, the title insurance company may in the regular course of business, establish a system whereby the executed notice and waiver be copied or reproduced by any photographic, photostatic, microfilm, miniature photographic or other process which accurately reproduces or forms a durable medium for reproducing the original.