UT Department of Insurance Interpretation (Clarification) | NNA
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UT Department of Insurance Interpretation (Clarification)

Notary Law Update: UT Department of Insurance Interpretation (Clarification)

State: Utah

Summary:

Notaries who handle loan signings may courier the documents to and from the signing, but they may not handle checks for settlement funds, as handling checks would require a title escrow producer license.

Signed:  May 23, 2006

Effective:  May 23, 2006

Chapter: N/A

Affects:

Notary Signing Agents in Utah

Changes:
  1. Clarifies new information that the NNA has received from the Utah Department of Insurance stating that the couriering of loan documents to and from a signing assignment does not constitute the business of a licensed title escrow producer and may be handled by Notary Signing Agents.
Analysis:

In a follow up letter received from Utah Department of Insurance Director of Market Conduct Division and Chief Market Conduct Examiner Darrel Powell, Mr. Powell clarified that Notaries who handle loan signings may courier the documents to and from the signing, but they may not handle checks for settlement funds, as handling checks would require a title escrow producer license.

To read the May 23, 2006, letter, download the PDF below.

Download PDF

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