31A-14-211. Restrictions on foreign title insurers.

174 words·~1 min read·/ut/title-31a/chapter-14/31a-14-211

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)An authorized foreign title insurer may only insure property in this state:

(a)through an agency title insurance producer who is a resident in Utah; or

(b)if the authorized foreign title insurer has a bona fide office in Utah:

(i)that is under the direction and control of the authorized foreign title insurer;

(ii)for which the authorized foreign title insurer pays the expenses, including compensation of the employees of the bona fide office;

(iii)at which a person may request information about title services related to a real estate transaction for which the person is a party;

(iv)at which a person may deliver written communications to the authorized foreign title insurer as required by the real estate transaction for which the person is a party; and

(v)at which a person may deliver escrow money related to a real estate transaction for which the person is a party.

(2)This section does not apply to reinsurance.

Amended by Chapter 319 , 2013 General Session