(1)  This chapter does not limit the authority of the commissioner or the commission to take disciplinary action against a title insurance licensee for a violation of this title or rules made by the department or commission under this title.

Terms Used In Utah Code 31A-41-103

(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
  • Proceeding: includes an action or special statutory proceeding. 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
    • (2)  The repayment in full of obligations to the fund by a title insurance licensee does not nullify or modify the effect of another disciplinary proceeding brought pursuant to this title or rules and regulations made by the department or commission under this title.

    Enacted by Chapter 220, 2008 General Session

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