Utah Admin. Code R592-16-2 - Purpose and Scope
(1) The purpose of
this rule is to identify certain escrow practices involving two or more
back-to-back sales and purchases of the same parcel of real property where
funds from the final purchaser are received by the initial seller despite
having no contractual privity, which the Commission finds may violate Sections
31A-23a-406 and
R592-6-4.
(2) This rule applies to:
(a) a title insurance company;
(b) an agency title insurance
producer;
(c) an individual title
insurance producer; and
(d) an
employee, representative, or any other party working for or on behalf of a
title insurance company, an agency title insurance producer, or an individual
title insurance producer, whether as a fulltime or part-time employee or as an
independent contractor.
Notes
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