Utah Statutes
§ 31A-20-109 — Single risk limitation for title insurance.
(1)As used in this section:
(1)(a) "Net retained liability" means the total potential liability retained by a title insurer for a single risk, after deducting liability reinsured for which credit may be taken under Section 31A-17-404.
(1)(b) "Single risk" means the sum of the potential liabilities under all title insurance policies issued on any estates in the same real property.
(2)The net retained liability of a title insurer for a single risk, whether assumed directly or as reinsurance, may not exceed 50% of the capital and surplus of the insurer.
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Utah § 31A-20-109 (Single risk limitation for title insurance.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 242, 1985 General Session
Nearby Sections
15
§ 31A-1-101
Short title.§ 31A-1-102
Purposes.§ 31A-1-103
Scope and applicability of title.§ 31A-1-104
Authorization to do insurance business.§ 31A-1-105
Presumption of jurisdiction.§ 31A-1-106
Residual unlicensed domestic insurers.§ 31A-1-107
Licensees under former Title 31.§ 31A-1-108
Corporations in the process of organizing.§ 31A-1-109
Name of licensee.§ 31A-1-110
Scope of a license.§ 31A-1-201
Construction.§ 31A-1-202
Effect of repeal of former provisions.§ 31A-1-203
Interpretive rules.§ 31A-1-205
Severability.§ 31A-1-301
Definitions.