Controlled business means any policy issued upon the life of, or annuity contract covering, you or your immediate family members (spouses, children or stepchildren, parents or stepparents, siblings, grandparents, or your spouse’s brothers and sisters), any officer, director, stockholder, partner, or employee of a corporation in which you or a family member is engaged, or the debtors of a firm, association, or corporation for which you or a family member is a trustee, executor, administrator, or agent. Most states limit the amount of controlled business an agent may write.
An application for a license to do title insurance must be accompanied by a statement as to whether or not the applicant intends to engage in controlled business, and, if so, the extent thereof. See Utah Code 31A-23a-503 for more information.