No. 36861 (5-year Review): Rule R592-5. Title Insurance Product or Service Approval for a Dual Licensed Title Licensee

DAR File No.: 36861
Filed: 09/27/2012 01:13:50 PM

NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:

Section 31A-2-404 gives the Title Commission to the authority to make rules according to the Administrative Rulemaking Act and to provide the Real Estate Commission that same information. Section 31A-2-405 allows the commission to make rules subject to Section 31A-2-404 to implement the filling requirements under Subsection (2).

Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:

The department has not received any written comments regarding this rule in the past five years.

Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

The rule sets requirements for a dual licensed title licensee to obtain approval from the insurance commissioner or expedited approval from the Title and Escrow Commission to sell a title insurance product. Therefore, this rule should be continued.

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Insurance
Title and Escrow Commission
Room 3110 STATE OFFICE BLDG
450 N MAIN ST
SALT LAKE CITY, UT 84114-1201

Direct questions regarding this rule to:

• Jilene Whitby at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at [e-mail]

Authorized by:

Jilene Whitby, Information Specialist

Effective:

09/27/2012

---