1st Sub.
H.B.
265
TITLE INSURANCE AMENDMENTS
House
Floor
Amendments
February 6, 1998 5:51 PM
Representative HATCH proposes the following amendments:
1. Page 2, Line 11: After "insurer" insert "and each title insurance agency"
2. Page 2, Lines 13-16: Delete lines 13-16 and insert:
"(b) A title insurance agency shall be assessed $150 for each county in which the title insurance agency maintains an office.
(c) A title insurer shall be assessed:
(i) $150 for each county in which the title insurer maintains an office; and
(ii) an amount calculated by:
(A) aggregating the assessments imposed on title insurance agencies under Subsection (2)(b) and on title insurers under Subsection (2)(c)(i);
(B) subtracting the amount determined under Subsection (2)(b)(i)(A) from the total costs and expenses determined under Subsection (2)(d); and
(C) multiplying:
(I) the amount calculated under Subsection (2)(c)(ii)(B); and
(II) the percentage of total premiums for title insurance on Utah risk that are premiums of the title insurer."
3. Page 2, Line 17: Delete "(c)" and insert "(d)"
4. Page 2, Line 20: After "not exceed" delete "$85,000" and insert "$50,000 annually"
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