Utah Statutes
§ 31A-41-305 — Department subrogated -- Authority to revoke license.
Utah·Title 31A Insurance Code·Ch. 31A-41 Title Insurance Recovery, Education, and Research Fund Act·Part 31A-41-3 Claims on Fund
(1)(1)(a) If the department makes payment from the fund, the department is subrogated to all the rights of the person who received money from the fund for the amounts paid out of the fund.
(1)(b) Any amounts recovered by the department under the subrogated rights shall be deposited in the fund.
(2)(2)(a) The license of a title insurance licensee for whom payment from the fund is made under this chapter is automatically revoked.
(2)(b) Before a title insurance licensee whose license is revoked under this section may apply for a new license under this title, the title insurance licensee shall pay to the department for deposit in the fund:
(2)(b)(i) the amounts paid by the fund because of an action brought against the title insurance licensee; and
(2)(b)(ii) interest at a rate determined by
Free access — add to your briefcase to read the full text and ask questions with AI
Utah § 31A-41-305 (Department subrogated -- Authority to revoke license.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 220, 2008 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.