No. 40300 (5-year Review): Rule R592-15. Submission of a Schedule of Minimum Charges for Escrow Services

DAR File No.: 40300
Filed: 04/06/2016 03:31:42 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 requires the Title and Escrow Commission to make rules related to title insurance. Subsection 31A-19a-209(2)(a)(i) requires that title insurers, title agencies, and title producers file a schedule of escrow charges with the commissioner. Rule R592-15 sets forth procedures for those filings.

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 received no written comments during the last 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 Title and Escrow Commission requested and approved Rule R592-15 for continuation. The rule establishes a minimum floor for rates which ensures stability in the industry, and codifies procedures for insurers, agencies, and agents to file those rates.

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:

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

Effective:

04/06/2016

Authorized by:

Steve Gooch, Information Specialist

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