State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-22 > 7-22-104

7-22-104. Net worth requirements.
An escrow agent shall at all times maintain a positive net worth no less than the greater of$50,000 or 10% of the agent's average daily escrow liabilities during the preceding 12 months, orduring all preceding operations if less than 12 months. For purposes of this section, net worthshall be calculated in accordance with generally accepted accounting principles.

Enacted by Chapter 133, 1991 General Session

State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-22 > 7-22-104

7-22-104. Net worth requirements.
An escrow agent shall at all times maintain a positive net worth no less than the greater of$50,000 or 10% of the agent's average daily escrow liabilities during the preceding 12 months, orduring all preceding operations if less than 12 months. For purposes of this section, net worthshall be calculated in accordance with generally accepted accounting principles.

Enacted by Chapter 133, 1991 General Session