31A-20-109 - Single risk limitation for title insurance. - Utah Statutes

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Statutes > Utah > Title-31a > Chapter-20 > 31a-20-109

31A-20-109. Single risk limitation for title insurance.
(1) As used in this section:
(a) "Net retained liability" means the total potential liability retained by a title insurer fora single risk, after deducting liability reinsured for which credit may be taken under Section31A-17-404.
(b) "Single risk" means the sum of the potential liabilities under all title insurance policiesissued on any estates in the same real property.
(2) The net retained liability of a title insurer for a single risk, whether assumed directlyor as reinsurance, may not exceed 50% of the capital and surplus of the insurer.

Enacted by Chapter 242, 1985 General Session

State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-20 > 31a-20-109

31A-20-109. Single risk limitation for title insurance.
(1) As used in this section:
(a) "Net retained liability" means the total potential liability retained by a title insurer fora single risk, after deducting liability reinsured for which credit may be taken under Section31A-17-404.
(b) "Single risk" means the sum of the potential liabilities under all title insurance policiesissued on any estates in the same real property.
(2) The net retained liability of a title insurer for a single risk, whether assumed directlyor as reinsurance, may not exceed 50% of the capital and surplus of the insurer.

Enacted by Chapter 242, 1985 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-20 > 31a-20-109

31A-20-109. Single risk limitation for title insurance.
(1) As used in this section:
(a) "Net retained liability" means the total potential liability retained by a title insurer fora single risk, after deducting liability reinsured for which credit may be taken under Section31A-17-404.
(b) "Single risk" means the sum of the potential liabilities under all title insurance policiesissued on any estates in the same real property.
(2) The net retained liability of a title insurer for a single risk, whether assumed directlyor as reinsurance, may not exceed 50% of the capital and surplus of the insurer.

Enacted by Chapter 242, 1985 General Session