On Mar. 2, UTA LEG passed actions against title insurance producer bill
UTA LEG passed HB 399S01 titled insurance department complaint amendments.
Amends UTA INS 31A-23a-204Special requirements for title insurance producers.
Bill Provisions
Authorizes the Insurance Department to take enforcement action against title producer if title insurance producer does not have an appointment from the title insurer.
Actions are suspend or revoke title insurance producer's license; freeze a bank account associated with the title insurance producer's business; subpoena producer's records.
Enjoin the title producer's business operations; post, at the title producer's business location, a notice of an action listed in Subsections (10)(a) through (10)(d).
Legislative History
On Jan. 26, 2024, bill was introduced in House; on Feb. 16, 2024, bill passed House.
On Feb. 16, 2024, bill was introduced in Senate; on Mar. 1, 2024, bill passed Senate.
On Mar. 2, 2024, bill was sent for enrolling; pending governor review and approval.
Effectiveness
Bill provisions take effect on May 1, 2024.
Mar. 2024 UTA LEG Bill Approval
On Mar. 14, 2024, UTA LEG reported governor approved bill, effective May 1, 2024.
Regulators
UTA LEG
Entity Types
Ins
Reference
Bill, 3/14/2024; Bill, HB0399S01, 3/2/2024; Citation: UTA INS 31A-23a-204;
