Utah Code 31A-23a-413. Title insurance producer’s annual report
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Terms Used In Utah Code 31A-23a-413
- Agency: means :
(a) a person other than an individual, including a sole proprietorship by which an individual does business under an assumed name; and (b) an insurance organization licensed or required to be licensed under Section 31A-23a-301, 31A-25-207, or 31A-26-209. See Utah Code 31A-1-301 - Employee: means :
(a) an individual employed by an employer; or (b) an individual who meets the requirements of Subsection (53)(b). See Utah Code 31A-1-301 - Form: means one of the following prepared for general use:
(i) a policy; (ii) a certificate; (iii) an application; (iv) an outline of coverage; or (v) an endorsement. See Utah Code 31A-1-301 - Individual: means a natural person. See Utah Code 31A-1-301
- Insurance: includes :
(i) a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind; (ii) a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and (iii) a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301 - Insurer: is a s defined in Section 31A-1-301, except that the following persons or similar persons are not insurers for purposes of 7:
(a) a risk retention group as defined in: (i) the Superfund Amendments and Reauthorization Act of 1986, Pub. See Utah Code 31A-23a-102 - producer: means a person licensed or required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Utah Code 31A-1-301
- Title insurance: means the insuring, guaranteeing, or indemnifying of an owner of real or personal property or the holder of liens or encumbrances on that property, or others interested in the property against loss or damage suffered by reason of liens or encumbrances upon, defects in, or the unmarketability of the title to the property, or invalidity or unenforceability of any liens or encumbrances on the property. See Utah Code 31A-1-301
31A-23a-413. Title insurance producer‘s annual report.
An agency title insurance producer and an individual title insurance producer who is not an employee of a title insurer or who has not been designated by an agency title insurance producer shall annually file with the commissioner, by a date and in a form the commissioner specifies by rule, a verified statement of the agency title insurance producer’s or individual title insurance producer’s financial condition, transactions, and affairs as of the end of the preceding calendar year.Amended by Chapter 312, 2015 General Session
- Employee: means :