1st Sub. H.B. 265

House Floor Amendments

February 3, 1998 7:52 PM

Representative HATCH proposes the following amendments:

1.    Page 2, Line 10:    After "assess" delete "each title"

2.    Page 2, Line 11:    Delete "insurer" and insert "the following"

3.    Page 2, Line 12:    After "Subsection (3)" insert ": (i) each title insurer; and (ii) each office of a title agency that issues title insurance policies"

4.    Page 2, Lines 13-16:    Delete lines 13-16 and insert:
        "(b)(i) Each office of a title agency that issues title insurance policies shall be assessed $150.
        (ii) The assessment imposed on a title insurer shall be calculated by:
        (A) subtracting the aggregate of the assessments imposed on title agencies under Subsection (2)(b)(i) from the total costs and expenses determined under Subsection (2)(c); and
        (B) multiplying:
        (I) the amount calculated under Subsection (2)(b)(ii)(A); and
        (II) the percentage of total premiums for title insurance on Utah risk that are premiums of the title insurer.

5.    Page 2, Line 20:    After "not exceed" delete "$85,000" and insert "$50,000 annually"

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