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Instructions For New Title Organization License

Below are specific requirements regarding title.

  1. A person that receives a new license on or after July 1, 2007 as a title insurance agency, shall at the time of licensure be owned or managed by one or more natural persons who are licensed with the following lines of authority for at least three of the five years immediately proceeding the date on which the title insurance agency applies for a license: Both a search line of authority; and escrow line of authority; or a search and escrow line of authority. [31A-23a-204]
  2. Utah Insurance Department Rule R590-154 requires that the name of an insurance agency licensed in the State of Utah must not be (1) misleading or deceptive; (2) likely to be mistaken for another licensee already in business; or (3) implies association or connection with any other organization where actual bona fide association or connection does not exist.
  3. The agency shall include words such as "Title Insurance Agency" in the agency's name OR the agency shall state that it is a title insurance agency in any letterhead, business cards, advertising, slogan, emblem, or other promotional material used or distributed by the agency in the State of Utah. No agency is allowed to use the word "Company" in their name.
  4. Complete application. Unless all questions are fully answered and all forms and fees required by this application are completed and attached, the application cannot be processed.
  5. A title insurance organization must maintain a fidelity bond or a professional liability insurance policy in an amount no less that $50,000 [Utah Insurance Code 31A-23a-204(2)]. Proof of this bond or policy must be submitted with the application.
  6. All agents designated to represent an organization must be individually licensed in Utah.
  7. License fee is $87.00 per two-year period.
  8. Beginning July 1, 2008, a person applying for an initial title insurance agency license shall pay an assessment of $1,000 at the time of application.

Before Operating as an Agency:

  1. A certificate of appointment is required from each company represented. Must be filed electronically on SIRCON.
  2. The Schedule of Minimum Charges for Escrow Services must be filed as required in Utah Administrative Rule (U.A.R.) R592-15, Submission of a Schedule of Minimum Charges for Escrow Services. 30-day waiting period is waived for the initial filing of escrow charges only.
  3. All escrow filings should be sent to pcforms.uid@utah.gov. No paper filings will be accepted.There is a $25 escrow filing fee, that should be mailed to the department. Bulletin 2007-3

Insurance Code, Rules, and Bulletins Specifically Relating to TITLE
(Other laws, rules and bulletins of general application also apply.)

Specific Title Laws

Specific Title Rules

  • R590-99 Renumbered as R592-14, Failure to record
  • R590-187 Renumbered as R592-10, Assessment of Title Insurance Agencies & Title Insurers for Costs Related to Regulation of Title Insurance.
  • R590-212 Requirements for Interest Bearing Accounts Used by Title Insurance Agencies for Trust Fund Deposits
  • R592-1 Title Insurance Licensing
  • R592-2 Title Insurance Administrative Hearings and Penalty Imposition
  • R592-3 Repealed 4-11-11, Replaced by R592-15: Filing a Schedule of Minimum Charges for Escrow Services
  • R592-4 Repealed 4-11-11, Replaced by R592-15: Standards for Minimum Charges for Escrow Services
  • R592-5 Title Insurance Product or Service Approval for a Dual Licensed Title Licensee
  • R592-6 Unfair Inducements and Marketing Practices in Obtaining Title Insurance Business
  • R592-7 Title Insurance Continuing Education Program
  • R592-8 Application Process for an Attorney Exemption for Title Agency Licensing
  • R592-9 Title Insurance Recovery, Education, and Research Fund Assessment Rule
  • R592-10, Assessment of Title Insurance Agencies and Title Insurers for Costs Related to Regulation of Title Insurance Rule; & Office Report Form.
  • R592-11, Title Insurance Agents' Annual Reports Rule
  • R592-13 - Repealed 5-1-09 - Minimum Charges for Escrow Services.
  • R592-14 - Delay or Failure to Record Documents & the Insuring of Properties with the False Appearance of Unmarketability as Unfair Title Insurance Practices.
  • R592-15, Submission of a Schedule of Minimum Charges for Escrow Services.
  • New R592-16, Prohibited Escrow Settlement Closing Transaction.

Specific Title Bulletins

To view ALL of the rules, bulletins and laws click on the following links.

Other Related Laws

Related Rules

Related Bulletins

  • Bulletin 2000-2 Written Consent For A Prohibited Person to Engage In The Business of Insurance Under Title 18, United States Code, Sections 1033 and 1034
  • Bulletin 2000-3 Written Consent For A Prohibited Person to Engage In The Business of Insurance Under Title 18, United States Code, Sections 1033 and 1034
  • Bulletin 2002-4 USA Patriot Act of 2001
  • Bulletin 2012-3: Requirements for Agency and Consultant Licenses

Notices

You are responsible to know and follow all statutes, rules and bulletins in the operation of your business. This information is for your convenience only and should not be considered comprehensive in its scope.