2006 Utah Code - 31A-31-110 — Mandatory reporting of fraudulent title insurance acts -- Failure to report -- Criminal penalties.

     31A-31-110.   Mandatory reporting of fraudulent title insurance acts -- Failure to report -- Criminal penalties.
     (1) An auditor that is employed by a title insurer and that has knowledge that a fraudulent insurance act is being, will be, or has been committed related to title insurance shall report the fraudulent act to the commissioner in a writing that provides information in detail relating to:
     (a) the fraudulent insurance act; and
     (b) the perpetrator of the fraudulent insurance act.
     (2) (a) Any auditor required to report a fraudulent insurance act under Subsection (1) who willfully fails to comply with Subsection (1) is guilty of a class B misdemeanor.
     (b) An action for failure to comply with Subsection (1) shall be commenced within four years from the date on which the auditor employed by the title insurer:
     (i) had knowledge of the fraudulent insurance act; and
     (ii) willfully failed to report the fraudulent insurance act.

Enacted by Chapter 104, 2004 General Session