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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-22-101

This section defines “escrow,” “escrow agent,” and “Nationwide database,” and states that this chapter does not apply to several listed entities and licensees.

Source excerpt

definitionsescrowescrow servicesexemptionsinsurancelicensingmortgage licensing
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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“This section defines “escrow,” “escrow agent,” and “Nationwide database,” and states that this chapter does not apply to several listed entities and licensees.”

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Definitions -- Exemptions.

This section defines “escrow,” “escrow agent,” and “Nationwide database,” and states that this chapter does not apply to several listed entities and licensees.

Section 7-22-101

Subsection 7-22-101(1)(b)

"Escrow agent" means a person that provides or offers to provide escrow services to the public.

Section 7-22-101(1)(b)

Subsection 7-22-101(2)

This chapter does not apply to several listed entities and licensees.

Section 7-22-101(2)

Subsection 7-22-101(2)(c)

Defines a depository institution chartered by a state or the federal government that does business as a depository institution in Utah.

Section 7-22-101(2)(c)

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In force source record

Source record from le.utah.gov · Legal dates not recorded

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Showing 11 of 11 provisions

Provision 8Interpretation 3
§ 7-22-101Definitions -- Exemptions.Interpretation

Source excerpt

This section defines “escrow,” “escrow agent,” and “Nationwide database,” and states that this chapter does not apply to several listed entities and licensees.

Definitions -- Exemptions. As used in this chapter: "Escrow" means an agreement, express or implied, that provides for one or more parties to deliver or entrust money, a certificate of deposit, a security, a negotiable instrument, a deed, or other property or asset to another person to be held, paid, or delivered in accordance with terms and conditions prescribed in the agreement. "Escrow agent" means a person that provides or offers to provide escrow services to the public. "Nationwide database" means the Nationwide Mortgage Licensing System and Registry, authorized under 12 U.S.C. Sec. 5101 for federal licensing of mortgage loan originators. This chapter does not apply to: a trust company authorized to engage in the trust business in Utah in accordance with Chapter 5, Trust Business ; a person other than an escrow agent regulated under this chapter that is exempted from the definition of trust business in Section 7-5-101 ; a depository institution chartered by a state or the federal government that is engaged in business as a depository institution in Utah; the Utah Board of Higher Education, the Utah Higher Education Assistance Authority, or the state treasurer; and a person licensed under Title 31A, Insurance Code .
Section 7-22-101Verify source
§ 7-22-101(1)Subsection 7-22-101(1)Provision

Source excerpt

This subsection defines “escrow,” “escrow agent,” and “nationwide database.”

As used in this chapter: "Escrow" means an agreement, express or implied, that provides for one or more parties to deliver or entrust money, a certificate of deposit, a security, a negotiable instrument, a deed, or other property or asset to another person to be held, paid, or delivered in accordance with terms and conditions prescribed in the agreement. "Escrow agent" means a person that provides or offers to provide escrow services to the public. "Nationwide database" means the Nationwide Mortgage Licensing System and Registry, authorized under 12 U.S.C. Sec. 5101 for federal licensing of mortgage loan originators.
Section 7-22-101(1)Verify source
§ 7-22-101(1)(a)Subsection 7-22-101(1)(a)Provision

Source excerpt

“Escrow” means an agreement where one or more parties deliver or entrust specified property to another person to be held, paid, or delivered under the agreement’s terms.

"Escrow" means an agreement, express or implied, that provides for one or more parties to deliver or entrust money, a certificate of deposit, a security, a negotiable instrument, a deed, or other property or asset to another person to be held, paid, or delivered in accordance with terms and conditions prescribed in the agreement.
Section 7-22-101(1)(a)Verify source
§ 7-22-101(1)(b)Subsection 7-22-101(1)(b)Provision

Source excerpt

"Escrow agent" means a person that provides or offers to provide escrow services to the public.

"Escrow agent" means a person that provides or offers to provide escrow services to the public.
Section 7-22-101(1)(b)Verify source
§ 7-22-101(1)(c)Subsection 7-22-101(1)(c)Provision

Source excerpt

“Nationwide database” means the Nationwide Mortgage Licensing System and Registry.

"Nationwide database" means the Nationwide Mortgage Licensing System and Registry, authorized under 12 U.S.C. Sec. 5101 for federal licensing of mortgage loan originators.
Section 7-22-101(1)(c)Verify source
§ 7-22-101(2)Subsection 7-22-101(2)Interpretation

Source excerpt

This chapter does not apply to several listed entities and licensees.

This chapter does not apply to: a trust company authorized to engage in the trust business in Utah in accordance with Chapter 5, Trust Business ; a person other than an escrow agent regulated under this chapter that is exempted from the definition of trust business in Section 7-5-101 ; a depository institution chartered by a state or the federal government that is engaged in business as a depository institution in Utah; the Utah Board of Higher Education, the Utah Higher Education Assistance Authority, or the state treasurer; and a person licensed under Title 31A, Insurance Code .
Section 7-22-101(2)Verify source
§ 7-22-101(2)(a)Subsection 7-22-101(2)(a)Provision

Source excerpt

A trust company authorized to do trust business in Utah under Chapter 5 is referenced here.

a trust company authorized to engage in the trust business in Utah in accordance with Chapter 5, Trust Business ;
Section 7-22-101(2)(a)Verify source
§ 7-22-101(2)(b)Subsection 7-22-101(2)(b)Interpretation

Source excerpt

a person other than an escrow agent regulated under this chapter that is exempted from the definition of trust business in Section 7-5-101 ;

a person other than an escrow agent regulated under this chapter that is exempted from the definition of trust business in Section 7-5-101 ;
Section 7-22-101(2)(b)Verify source
§ 7-22-101(2)(c)Subsection 7-22-101(2)(c)Provision

Source excerpt

Defines a depository institution chartered by a state or the federal government that does business as a depository institution in Utah.

a depository institution chartered by a state or the federal government that is engaged in business as a depository institution in Utah;
Section 7-22-101(2)(c)Verify source
§ 7-22-101(2)(d)Subsection 7-22-101(2)(d)Provision

Source excerpt

Names the Utah Board of Higher Education, the Utah Higher Education Assistance Authority, or the state treasurer.

the Utah Board of Higher Education, the Utah Higher Education Assistance Authority, or the state treasurer; and
Section 7-22-101(2)(d)Verify source
§ 7-22-101(2)(e)Subsection 7-22-101(2)(e)Provision

Source excerpt

Refers to a person licensed under Title 31A, Insurance Code.

a person licensed under Title 31A, Insurance Code .
Section 7-22-101(2)(e)Verify source

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