31A-26-404. Funds that a public adjuster holds.
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/ut/title-31a/chapter-26/31a-26-404A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/6/2026
31A-26-404. Funds that a public adjuster holds.
A public adjuster that receives, accepts, or holds funds on behalf of an insured shall deposit the funds into a trust account within a federally insured depository institution that:
(a)has a branch in this state, if the public adjuster depositing the money is a resident licensee;
(b)has a branch in the public adjuster's home state, if the public adjuster is a nonresident licensee; or
(c)has a branch where the loss occurred; and
(2)the depository institution's primary regulator authorizes to engage in trust business.
Enacted by Chapter 45 , 2026 General Session