31A-4-107. Other business.
(1) As used in this section, "business reasonably incidental to insurance business"
includes:
(a) in the case of an insurer authorized to transact title insurance:
(i) preparing or selling abstracts of title and related documents; and
(ii) providing escrow services in connection with real estate transactions, or other services
incidental to the sale or transfer of insurance related to the sale or transfer of real property, except
the sale of other kinds of insurance related to the sale or transfer of real property; and
(b) the business that could be done through subsidiaries authorized under Subsection
31A-5-218(3) or, in the case of a nondomestic insurer, through corporations that would be
authorized under Subsection 31A-5-218(3) if the insurer were a domestic insurer.
(2) No domestic insurer may engage, directly or indirectly, in any business other than
insurance and business reasonably incidental to its insurance business, except as specifically
authorized by Section 31A-5-218 or other law in this state.
(3) No nondomestic insurer may engage in this state in any business forbidden to a
domestic insurer, nor may the insurer engage in that type of business elsewhere if the
commissioner orders the nondomestic insurer to cease doing that type of business upon finding
that doing that business is not consistent with the interests of its insureds, creditors, or the public
in this state.
Amended by Chapter 308, 2002 General Session
Download Code Section Zipped WordPerfect 31A04_010700.ZIP 2,290 Bytes
Sections in this Chapter|Chapters in this Title|All Titles|Legislative Home Page
Last revised: Thursday, May 28, 2009