Utah Statutes
§ 31A-41-203 — Use of money.
Utah·Title 31A Insurance Code·Ch. 31A-41 Title Insurance Recovery, Education, and Research Fund Act·Part 31A-41-2 Creation of Fund
(1)Money in the fund may be used to pay claims made under Part 3, Claims on Fund.
(2)(2)(a) Except as limited by Subsection (2)(b), money in the fund in excess of $250,000 may be used by the commissioner, with the consent of the commission, to:
(2)(a)(i) investigate violations of this chapter related to fraud by a title insurance licensee;
(2)(a)(ii) conduct education and research in the field of title insurance; or
(2)(a)(iii) examine a title insurance licensee's:
(2)(a)(iii)(A) escrow and trust account;
(2)(a)(iii)(B) examination procedures; or
(2)(a)(iii)(C) compliance with applicable statutes and rules.
(2)(b) The commissioner may not use more than 75% of money collected under this chapter in a fiscal year from assessments and interest for the purposes outlined in this Subsection (2
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Legislative History
Amended by Chapter 330, 2015 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.