UT Department of Insurance Interpretation (Clarification)

Law

State: Utah
Signed: May 23, 2006

Effective: May 23, 2006
Chapter: N/A

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.

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.

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