Title 31A, Title 31A: Insurance Code

31A-25-204. Character requirements. Each applicant for a license under this chapter shall show to the commissioner all of the following: (1) that the applicant has the good faith intent to engage in the type of business the license applied for would permit; (2) if a natural perso…

31A-25-205. Financial responsibility. (1) Every person licensed under this chapter shall maintain an insurance policy or surety bond: while licensed; and for one year after the person is licensed; and issued: by an authorized insurer; in an amount specified under Subsection; and …

31A-25-206. Nonresident jurisdictional agreement. (1) If a nonresident license applicant has a valid license from the nonresident license applicant's home state or designated home state and the conditions of Subsectionare met, the commissioner shall: (1)(b) waive any license requ…

31A-25-207. Form and contents of license. (1) Licenses issued under this chapter shall be in the form the commissioner prescribes and shall set forth: the name, address, and telephone number of the licensee; the date of license issuance; and any other information the commissioner…

31A-25-208. Revoking, suspending, surrendering, lapsing, limiting, or otherwise terminating a license -- Rulemaking for renewal and reinstatement. (1) A license type issued under this chapter remains in force until: revoked or suspended under Subsection; (4) surrendered to the co…

31A-25-209. Probation -- Grounds for revocation. (1) The commissioner may place a licensee on probation for a period not to exceed 24 months as follows: after an adjudicative proceeding under, for any circumstances that would justify a suspension under Section; or Title 63G, Chap…

31A-25-210. License lapse and voluntary surrender. (1) A license issued under this chapter shall lapse if the licensee fails to: pay when due a fee under Section; 31A-3-103 submit a completed renewal application as required by Section; 31A-25-202 produce, when due, evidence of co…

31A-25-301. Written agreements required. (1) Every third party administrator shall have a written agreement with each insurer and with each group policyholder represented. (2) The agreements required by Subsectionshall contain provisions which include the requirements of this par…

31A-25-302. Books and records required -- Access. (1) Any insurer contracting with an administrator for administrator services has the right of continuing access to those records maintained by the third party administrator which permit the insurer to fulfill all of its contractua…

31A-25-302.5. Place of business and residence address. (1) A third-party administrator licensed under this chapter shall register and maintain with the commissioner: the address and one or more telephone numbers of the licensee's principal place of business; a valid business emai…

31A-25-303. Standards pertaining to advertising and underwriting. (1) A third party administrator may use advertising pertaining to the business underwritten by the insurer only to the extent it has been approved in writing by the insurer in advance. (2) The agreement required un…

31A-25-304. Liability of the insurer if administrator receives premium. If an insurer utilizes the services of a third party administrator under the terms of a written agreement, as required under this chapter, the payment to the third party administrator of any premiums for insu…

31A-25-305. Fiduciary requirements for third party administrators. (1) All money received by a third party administrator in that capacity shall be held by the third party administrator as a fiduciary. The money shall be paid in a timely manner to the persons entitled to it. While…

31A-25-306. Payments by administrator. An administrator shall pay a claim from money collected on behalf of the insurer on drafts or checks as authorized by the insurer.

31A-25-307. Delivery by administrator of policies and communications from insurer. Any policies, certificates, booklets, termination notices, or other written communications delivered by the insurer to the administrator for delivery to its policyholders shall be delivered by the …

31A-25-401. Compensation not to be contingent on claims expense. The compensation paid to a third party administrator for any policies under which the third party administrator adjusts or settles claims may be contingent on claims experience only if the third party administrator …

31A-25-402. Notice to insureds regarding administration of policies. (1) If the services of a third party administrator are utilized, the third party administrator shall provide a written notice to the insureds, advising them of the identity of and relationship among the third pa…