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

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