1st Sub. H.B. 265

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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