UT HB0503

Changes the definition of "affiliated business" to measure gross title premium revenue instead of gross transaction revenue for title insurance entities in Utah

Establishes a 70% threshold for RESPA (Real Estate Settlement Procedures Act) compliance: affiliated business arrangements violate federal law if 70% or more of a title entity's annual title premiums come from affiliated business sources

Excludes title premiums calculated using filed centralized rates from a title insurance underwriter when calculating the 70% affiliated business threshold

Removes the previous two-year grace period that allowed new title entities to exceed the 70% affiliated business threshold before compliance was required

Takes effect on May 6, 2026