31A-4-101. Solicitation permit. (1) No person may advertise for or solicit or receive any funds, subscriptions for securities, or membership fees, dues, or contributions in Utah or from any person present in Utah for the purpose of forming or financing the formation or enlargement of an insurer, holding company to form or acquire one or […]
Effective 5/13/2014 31A-4-102. Qualified insurers. (1) A person may not conduct an insurance business in Utah in person, through an agent, through a broker, through the mail, or through another method of communication, except: (a) an insurer: (i) authorized to do business in Utah under: (A)Chapter 5, Domestic Stock and Mutual Insurance Corporations; (B)Chapter 7, […]
31A-4-103. Certificate of authority. (1) Each certificate of authority issued by the commissioner shall specify: (a) the name of the insurer; (b) the kinds of insurance the insurer is authorized to transact in Utah; and (c) any other information the commissioner requires. (2) A certificate of authority issued under this chapter remains in force until: […]
31A-4-104. Bar on local activity by persons not authorized. A person not qualified under Section 31A-4-102 to do an insurance business may not, from offices or by personnel or facilities located in Utah, solicit insurance applications or transact insurance business in another jurisdiction. Enacted by Chapter 242, 1985 General Session
31A-4-105. Deposit required from domestic insurers. Domestic insurers organized or operating under Chapter 5, Domestic Stock and Mutual Insurance Corporations, Chapter 7, Nonprofit Health Service Insurance Corporations, or Chapter 9, Insurance Fraternals, shall maintain a deposit under Section 31A-2-206 in the amount of the insurer’s required capital for stock insurers, or minimum permanent surplus for […]
31A-4-105.5. Deposit required from foreign insurers. (1) (a) Foreign insurers operating under Chapter 14, Foreign Insurers, shall maintain a deposit in the amount of the insurer’s minimum required capital for stock insurers, or minimum required permanent surplus for mutual insurers. (b) The deposit shall be held for the benefit of all policyholders and may be […]
Effective 5/8/2018 31A-4-106. Provision of health care. (1) As used in this section, “health care provider” has the same definition as in Section 78B-3-403. (2) Except under Subsection (3) or (4), unless authorized to do so or employed by someone authorized to do so under Chapter 5, Domestic Stock and Mutual Insurance Corporations, Chapter 7, […]
31A-4-106.5. Medical retainer agreements. (1) For purposes of this section: (a) “Medical retainer agreement” means a written contract: (i) between: (A) except as provided in Subsection (1)(b)(iii)(B), a natural person or a professional corporation, alone or with others professionally associated with the natural person or professional corporation; and (B) an individual patient or a patient’s […]
31A-4-107. Other business. (1) As used in this section, “business reasonably incidental to insurance business” includes: (a) in the case of an insurer authorized to transact title insurance: (i) preparing or selling abstracts of title and related documents; and (ii) providing escrow services in connection with real estate transactions, or other services incidental to the […]
Effective 5/8/2018 31A-4-107.5. Penalty for failure of a regulated health insurance entity to fulfill duties related to state claims for Medicaid payment or recovery. (1) For purposes of this section, “regulated health insurance entity” means a health insurance entity, as defined in Section 26-19-102, that is subject to regulation by the department. (2) If a […]
31A-4-108. Power to hold property in other than own name. (1) An insurer shall hold all investments and deposits of its funds in its own name except: (a) securities: (i) kept under a custodial agreement or trust arrangement with one of the following approved by the commissioner: (A) a bank; (B) a securities firm’s trust […]
31A-4-109. Insurers as fundholders. All of an insurer’s assets shall be held, invested, and disbursed for the use and benefit of the insurer. No policyholder, member, or beneficiary may have or acquire individual rights in these assets or become entitled to an apportionment or the surrender of any part of these assets, except as provided […]
Effective 5/9/2017 31A-4-110. Duty of insurers to report abandoned property. All insurers doing business in Utah shall report under Section 67-4a-401 any property presumed abandoned under Title 67, Chapter 4a, Part 2, Presumption of Abandonment. Amended by Chapter 371, 2017 General Session
31A-4-111. Authority to insure with certain insurers. A person, government, governmental agency, state, political subdivision of the state, public or private corporation, board, association, estate, trustee, or fiduciary may purchase nonassessable policies of insurance issued by an insurer under Chapter 5, Domestic Stock and Mutual Insurance Corporations, Chapter 7, Nonprofit Health Service Insurance Corporations, Chapter […]
31A-4-112. Political activities. (1)Title 36, Chapter 11, Lobbyist Disclosure and Regulation Act, applies to the lobbying efforts of every person subject to regulation under this title. (2) Except insurers with excess surplus, an insurer doing business in Utah may not directly or indirectly pay or use, or offer or agree to pay or use any […]
31A-4-113. Annual statements. (1) (a) Each authorized insurer shall annually, on or before March 1, file with the commissioner a true statement of the authorized insurer’s financial condition, transactions, and affairs as of December 31 of the preceding year. (b) The statement required by Subsection (1)(a) shall be: (i) verified by the oaths of at […]
31A-4-113.5. Filing requirements — National Association of Insurance Commissioners. (1) (a) Each domestic, foreign, and alien insurer who is authorized to transact insurance business in this state shall annually, on or before March 1, file with the National Association of Insurance Commissioners a copy of the insurer’s: (i) annual statement convention blank; and (ii) any […]
31A-4-114. Powers of a reciprocal insurer and interinsurance exchange. (1) Every reciprocal insurer or interinsurance exchange may: (a) purchase, receive, own, hold, and lease its property; (b) mortgage, pledge, or encumber its property by deed of trust or otherwise; and (c) manage and sell real property to fulfill its purposes, including: (i) making investments for […]
Effective 5/4/2022 31A-4-115. Plan of orderly withdrawal. (1) As used in this section, a “line of insurance” means: (a) a general line of authority; (b) a general line of insurance; (c) a limited line insurance; (d) the small employer group health benefit plan market when there is a discontinuance of all small employer health benefit […]
Effective 1/1/2020 31A-4-116. Adverse benefit determination procedures. (1) If an insurer has established a complaint resolution body or grievance appeal board, the body or board shall include at least one consumer representative. (2) Adverse benefit determination procedures for health insurance policies and health maintenance organization contracts shall be established in accordance Sections 31A-22-629 and 31A-22-650. […]
