31A-23a-407 - Liability of title insurers for acts of title insurance producers. - Utah Statutes

31A-23a-407. Liability of title insurers for acts of title insurance producers.
Any title company, represented by one or more title insurance producers, is directly andprimarily liable to others dealing with the title insurance producers for the receipt anddisbursement of funds deposited in escrows with the title insurance producers in all thosetransactions where a commitment or binder for or policy or contract of title insurance of that titleinsurance company has been ordered, or a preliminary report of the title insurance company hasbeen issued or distributed. This liability does not modify, mitigate, impair, or affect thecontractual obligations between the title insurance producers and the title insurance company.

Renumbered and Amended by Chapter 298, 2003 General Session