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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) As used in this section:
(a) “Net retained liability” means the total potential liability retained by a title insurer for a single risk, after deducting liability reinsured for which credit may be taken under Section 31A-17-404.
(b) “Single risk” means the sum of the potential liabilities under all title insurance policies issued on any estates in the same real property.
(2) The net retained liability of a title insurer for a single risk, whether assumed directly or as reinsurance, may not exceed 50% of the capital and surplus of the insurer.
Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-20-109. Single risk limitation for title insurance - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-20-109/
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