Utah Code 31A-14-211. Restrictions on foreign title insurers
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(1) An authorized foreign title insurer may only insure property in this state:
Terms Used In Utah Code 31A-14-211
- Agency: means :(6)(a) a person other than an individual, including a sole proprietorship by which an individual does business under an assumed name; and(6)(b) an insurance organization licensed or required to be licensed under Section
31A-23a-301 ,31A-25-207 , or31A-26-209 . See Utah Code 31A-1-301- Bona fide office: means a physical office in this state:
(16)(a) that is open to the public;(16)(b) that is staffed during regular business hours on regular business days; and(16)(c) at which the public may appear in person to obtain services. See Utah Code 31A-1-301- Insurance: includes :
(96)(b)(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;(96)(b)(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(96)(b)(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- Person: includes :
(146)(a) an individual;(146)(b) a partnership;(146)(c) a corporation;(146)(d) an incorporated or unincorporated association;(146)(e) a joint stock company;(146)(f) a trust;(146)(g) a limited liability company;(146)(h) a reciprocal;(146)(i) a syndicate; or(146)(j) another similar entity or combination of entities acting in concert. See Utah Code 31A-1-301- 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
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- Reinsurance: means an insurance transaction where an insurer, for consideration, transfers any portion of the risk it has assumed to another insurer. See Utah Code 31A-1-301
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) through an agency title insurance producer who is a resident in Utah; or(1)(b) if the authorized foreign title insurer has a bona fide office in Utah:(1)(b)(i) that is under the direction and control of the authorized foreign title insurer;(1)(b)(ii) for which the authorized foreign title insurer pays the expenses, including compensation of the employees of the bona fide office;(1)(b)(iii) at which a person may request information about title services related to a real estate transaction for which the person is a party;(1)(b)(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(1)(b)(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. - Bona fide office: means a physical office in this state: