Utah Administrative Code
The Utah Administrative Code is the body of all effective administrative rules as compiled and organized by the Division of Administrative Rules (Subsection 63G-3-102(5); see also Sections 63G-3-701 and 702).
NOTE: For a list of rules that have been made effective since April 1, 2013, please see the codification segue page.
NOTE TO RULEFILING AGENCIES: Use the RTF version for submitting rule changes.
R592. Insurance, Title and Escrow Commission.
Rule R592-10. Title Insurance Regulation Assessment for Title Insurance Agencies and Title Insurers.
As in effect on April 1, 2013
Table of Contents
- R592-10-1. Authority.
- R592-10-2. Purpose and Scope.
- R592-10-3. Definitions.
- R592-10-4. Costs and Expenses.
- R592-10-5. Office Report.
- R592-10-6. Calculation Method for the Calculation of the Number of Title Insurance Agency Offices.
- R592-10-7. Premium Year for Title Insurer Assessment.
- R592-10-8. Assessment Payment.
- R592-10-9. Penalties.
- R592-10-10. Enforcement Date.
- R592-10-11. Severability.
- Date of Enactment or Last Substantive Amendment
- Notice of Continuation
- Authorizing, Implemented, or Interpreted Law
This rule is promulgated by the Title and Escrow Commission (Commission) pursuant to Subsections:
(1) 31A-2-404(2)(d) which requires the Commission to determine by rule the assessment required by 31A-23a-415; and
(2) 31A-23a-415(2)(d) which requires the Commission to establish the amount of costs and expenses that will be covered by the assessment.
(1) The purposes of this rule are to:
(a) establish the categories of costs and expenses incurred by the department in administering, investigating and enforcing the provisions of Title 31A, Chapter 23a, Parts IV and V related to the marketing of title insurance and the audits of title agencies;
(b) require the reporting by a title insurance agency and a title insurer of the mailing address and physical location of each office in each county where the title agency or title insurer maintains an office;
(c) establish a calculation method for the calculation of the number of title insurance agency or title insurer offices; and
(d) determine the premium year used in calculating the assessment of title insurers.
(2) This rule applies to all title insurers and title insurance agencies.
(1) For the purpose of the rule the Commission adopts the definitions as set forth in Sections 31A-1- 301, 31A-2-402, and the following:
(a) "Office" means each physical location of a title insurance agency or a title insurer in a county. Office includes any physical location that is open and available to the public.
The amount of costs and expenses that will be covered by the assessment imposed by 31A-23a-415 for any fiscal year in which an assessment exists:
(1) will be for a Market Conduct Examiner I as determined by the department's budget as approved by the Utah State Legislature, including any approved salary increases or increases in benefits; and
(2) will include the following expenses:
(a) salary and state paid benefits;
(b) travel expenses, including daily vehicle expenses;
(c) computer hardware and software expenses;
(d) e-commerce expenses;
(e) wireless communications expenses; and
(f) training expenses.
(1) A title insurance agency and a title insurer shall submit a completed Office Report Form not later than 30 days after the date a change described below occurs in a county where the title insurance agency or title insurer maintains an office:
(a) the opening or closing of an office;
(b) a change of address of an office; or
(c) a change in the manager of an office.
(2) An Office Report Form shall be submitted electronically via email to email@example.com.
(3) The department's Office Report Form, which is available on the department's website, shall be used to report changes in offices.
(a) An actual copy of the form may be used or may be adapted to a particular word processing system.
(b) If adapted, the content, size, font, and format must be similar.
(1) All offices reported in accordance with Section R592-10-5 will be included in the calculation of the title insurance assessment.
(2) An annual assessment calculation for a title insurance agency or title insurer that is calculated using incorrect numbers of offices because the number of offices was incorrectly reported will not be recalculated.
(3) A title insurance agency or title insurer found to have improperly reported their offices may be subject to penalties in accordance with Section R592-10-9.
(1) The title insurance assessment shall be calculated using direct premiums written during the preceding calendar year.
(2) The direct premiums written shall be taken from the insurer's annual statements for that year.
(1) An annual assessment shall be paid by the due date on the invoice.
(2) Payments shall be made in accordance with R590-102, Insurance Department Fee Payment Rule.
A person found, after a hearing or other regulatory process, to be in violation of this rule shall be subject to penalties as provided under 31A-2-308.
The commissioner will begin enforcing this rule 45 days from the rule's effective date.
If any provision or clause of this rule or its application to any person or situation is held invalid, that invalidity will not affect any other provision or application of this rule which can be given effect without the invalid provision or application, and to this end the provisions of this rule are declared to be severable.
May 19, 2009
July 29, 2008
For questions regarding the content or application of rules under Title R592, please contact the promulgating agency (Insurance, Title and Escrow Commission). A list of agencies with links to their homepages is available at http://www.utah.gov/government/agencylist.html or from http://www.rules.utah.gov/contact/agencycontacts.htm.