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Current as of May 05, 2022 | Updated by FindLaw Staff
(1) Subject to the requirements of this part, if the department determines that a claim should be levied against the fund, the department shall enter an order that the fund pay that portion of the petitioner's judgment that is eligible for payment from the fund.
(2) A payment from the fund may not compensate for punitive damages, attorney fees, interest, or court costs.
(3) Regardless of the number of claimants or parcels of real estate involved in a single transaction, the liability of the fund may not exceed:
(a) $15,000 for a single real estate transaction; or
(b) $50,000 for all transactions of a title insurance licensee.
Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-41-303. Determination and amount of fund liability - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-41-303/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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