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CERTIFIED SUR. GROUP, LTD. v. UT INC.

No. 960489.

960 P.2d 904 (1998)

CERTIFIED SURETY GROUP, LTD., Plaintiff and Appellant, v. UT INC., U.T.I., Inc., and Ben Masters, Defendants and Appellees.

Supreme Court of Utah.

July 7, 1998.

Attorney(s) appearing for the Case

Andrew M. Morse, Richard A. Van Wagoner, Salt Lake City, for plaintiff.

Michael L. Labertew, Salt Lake City, for defendants.

RUSSON, Justice:

Certified Surety Group, Ltd., appeals the trial court's dismissal of its complaint. The trial court ruled that the indemnity agreement at issue was unenforceable because it was entered into in violation of the Utah Insurance Code. We reverse and remand.

FACTS

On March 2, 1994, U.T.I., Inc., a North Carolina corporation, and its president, Ben Masters, a North Carolina resident (collectively, "UTI"), entered into a loan agreement...

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