Title 31A, Insurance Code

31A-35-606. Bail agreement prior to commission of offense prohibited. A bail bond agency or bail bond producer may not enter into an agreement or arrangement with any person, guaranteeing or assuring in advance of the commission of any offense that bail will be furnished to that …

31A-35-607. Filing of forms -- Commissioner maintains files. (1)(a) In accordance with Section 31A-21-201, a bail bond agency that meets the financial capacity requirements through the use of a letter of credit, personal property, real property, or a surety insurer shall file wit…

31A-35-608. Premiums and authorized charges. (1) A bail bond agency or bail bond producer may not, in any bail transaction or in connection with that transaction, directly or indirectly, charge or collect money or other valuable consideration from any person except to: (a) pay th…

31A-35-701. Prohibited acts. (1) A bail bond producer or bail bond agency may not: (a) solicit business in or about: (i) any place where persons in the custody of the state or any local law enforcement or correctional agency are confined; or (ii) any court; (b) pay a fee or rebat…

31A-35-702. Early surrender without cause. (1) The bail or bail bond premium shall be returned in full if a bail bond producer without good cause surrenders a defendant to custody before: (a) the time specified in the undertaking of bail or the bail bond for the appearance of the…

31A-35-703. Disciplinary action. (1) A person found to be in violation of the statutes or rules governing the conduct of bail bond producers and bail bond agencies under this chapter is subject to: (a) disciplinary action by the commissioner against that person's: (i) license, if…

31A-35-704. Submission of bail bond agencies and producers to jurisdiction of court. By applying for and receiving a license or certificate to engage in the bail bond insurance business in accordance with this chapter, a bail bond agency or bail bond producer: (1) submits to the …

31A-36-101. Title. This chapter is known as the "Life Settlements Act."

31A-36-102. Definitions. As used in this chapter: (1)(a) "Advertising" means a communication placed before the public to: (i) create an interest in a life settlement; or (ii) induce a person pursuant to a life settlement to sell, assign, devise, bequest, or transfer the death ben…

31A-36-103. Law governing. (1) If there is more than one owner on a single policy and the owners are residents of different states, the law of the state in which the owner having the largest percentage ownership resides governs the life settlement. If the owners own equal fractio…

31A-36-104. License requirements, revocation, and denial. (1)(a) A person may not, without first obtaining a license from the commissioner, operate in or from this state as: (i) a life settlement provider; or (ii) a life settlement producer. (b) A life settlement is included with…

31A-36-105. Filing and use of forms for life settlement and disclosure. (1) A person may not use a form unless the form is filed with the commissioner under Subsection 31A-21-201(1). (2) The commissioner may prohibit the use of a form submitted under Subsection (1) pursuant to Su…

31A-36-106. Reporting requirements and privacy. (1)(a) Subject to Subsection (1)(b), a life settlement provider shall file with the commissioner on or before March 1 of each year an annual report containing the information the commissioner prescribes under Section 31A-36-119. (b)…

31A-36-107. Examinations and retention of records. (1) The commissioner may conduct an examination of a life settlement provider or life settlement producer in accordance with Sections 31A-2-203, 31A-2-203.5, 31A-2-204, and 31A-2-205. (2) A life settlement provider or life settle…

31A-36-108. Required disclosures. (1) With an application for a life settlement, a life settlement provider or life settlement producer shall furnish to the owner the disclosures the commissioner may require under Section 31A-36-119, in a separate document signed by the owner and…

31A-36-109. General requirements. (1) If a life settlement provider transfers ownership or changes the beneficiary of a settled policy, the life settlement provider shall inform the insured of the transfer or change within 20 calendar days. (2) A life settlement provider that ent…

31A-36-110. Payment and document requirements. (1)(a) A life settlement provider shall instruct the owner to send the executed documents required to effect the change in ownership or assignment or change of beneficiary of the affected policy to a designated independent escrow age…

31A-36-111. Prohibited acts. (1) An owner may not enter into a life settlement at any time before the application or issuance of a policy. (2) An owner may not enter into a life settlement within two years after the date of issuance of the policy to which the life settlement rela…

31A-36-112. Advertising regulations. (1)(a) A life settlement provider or life settlement producer shall establish and continuously maintain a system of control over the content, form, and method of dissemination of advertisements of the life settlement provider's or life settlem…

31A-36-113. Fraud. (1) As used in this section, "recklessly" means engaging in conduct: (a) when a person knows or should have known of a substantial likelihood of the existence of the relevant facts or risks; and (b) involving a significant deviation from acceptable standards of…

31A-36-114. Reporting of fraud and immunity. (1) A person engaged in the business of life settlements that knows or reasonably suspects that a violation of Section 31A-36-113 is being, has been, or will be committed shall provide to the commissioner the information required by, a…

31A-36-115. Confidentiality. (1) The following shall be classified as protected records under Title 63G, Chapter 2, Government Records Access and Management Act: (a) a document or information furnished pursuant to Section 31A-36-114; and (b) a document or information obtained by …

31A-36-116. Other law enforcement or regulatory authority. This chapter does not: (1) preempt the authority or relieve the duty of other law enforcement or regulatory agencies to investigate, examine, and prosecute suspected violations of law; (2) prevent or prohibit a person fro…

31A-36-117. Antifraud initiatives. (1) The following shall establish and maintain antifraud initiatives which are reasonably calculated to prevent, detect, and assist in the prosecution of violations of Section 31A-36-113: (a) a life settlement provider; and (b) an agency that is…

31A-36-118. Criminal penalties and restitution. (1) A person subject to this chapter is subject to: (a) Section 31A-2-308 for an administrative violation of this title; (b) prosecution under Title 76, Chapter 6, Part 4, Theft, for criminal activity involving a life settlement; or…

31A-36-119. Authority to make rules. In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner may adopt rules to: (1) establish the requirements for the annual report required under Section 31A-36-106; (2) establish standards for evaluating th…

31A-37-101. Title. This chapter is known as the "Captive Insurance Companies Act."

31A-37-102. Definitions. As used in this chapter: (1)(a) "Affiliated company" means a business entity that because of common ownership, control, operation, or management is in the same corporate or limited liability company system as: (i) a parent; (ii) an industrial insured; or …

31A-37-103. Chapter exclusivity. (1) Except as provided in Subsections (2) and (3) or otherwise provided in this chapter, a provision of this title other than this chapter does not apply to a captive insurance company. (2) To the extent that a provision of the following does not …

31A-37-104. Applicability of reorganization, receivership, and injunction authority. (1) Except as provided in Chapter 37a, Special Purpose Financial Captive Insurance Company Act, and Subsection (2), Chapter 27a, Insurer Receivership Act, applies to a captive insurance company f…

31A-37-105. Operation of a branch captive insurance company. Except as otherwise provided in this chapter, a branch captive insurance company shall be a pure captive insurance company with respect to operations in this state, unless otherwise permitted by the commissioner under S…

31A-37-106. Authority to make rules -- Authority to issue orders. (1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner may adopt rules to: (a) determine circumstances under which a branch captive insurance company is not required to be…

31A-37-201. Certificate of authority. (1) The commissioner may issue a certificate of authority to act as an insurer in this state to a captive insurance company that meets the requirements of this chapter. (2) To conduct insurance business in this state, a captive insurance comp…

31A-37-202. Permissive areas of insurance. (1) Except as provided in Subsections (2) and (3), a captive insurance company may not directly insure a risk other than the risk of the captive insurance company's parent or affiliated company. (2) In addition to the risks described in …

31A-37-203. Deceptive name prohibited. (1) A captive insurance company may not adopt a name that is: (a) the same as any other existing business name registered in this state; (b) deceptively similar to any other existing business name registered in this state; or (c) likely to b…

31A-37-204. Paid-in capital -- Other capital. (1) For purposes of this section, "marketable securities" means: (a) a bond or other evidence of indebtedness of a governmental unit in the United States or Canada or any instrumentality of the United States or Canada; or (b) securiti…

31A-37-301. Formation. (1) A captive insurance company, other than a branch captive insurance company, may form as a corporation, a limited liability company, or a not-for-profit organization. (2) The capital of a captive insurance company shall be held by: (a) the interest holde…

31A-37-302. Investment requirements. (1)(a) Except as provided in Subsection (1)(b), a captive insurance company and a risk retention group shall comply with the investment requirements contained in this title. (b) Notwithstanding Subsection (1)(a) and any other provision of this…

31A-37-303. Reinsurance. (1)(a) A captive insurance company may cede risks to any insurance company approved by the commissioner. (b) Except as provided in Subsection (1)(c), a captive insurance company may provide reinsurance on risks ceded by any other insurer with prior approv…

31A-37-304. Rating organization. A captive insurance company is not required to join a rating organization.

31A-37-305. Contributions to guaranty or insolvency fund prohibited. (1) A captive insurance company may not join or contribute financially to any of the following in this state: (a) a plan; (b) a pool; (c) an association; (d) a guaranty fund; or (e) an insolvency fund. (2) A cap…

31A-37-401. Sponsored captive insurance companies -- Formation. (1) One or more sponsors may form a sponsored captive insurance company under this chapter. (2) A sponsored captive insurance company formed under this chapter may establish and maintain, with prior approval of the c…

31A-37-402. Sponsored captive insurance companies -- Certificate of authority mandatory. (1) A sponsor of a sponsored captive insurance company shall be: (a) an insurer authorized or approved under the laws of a state; (b) a reinsurer authorized or approved under the laws of a st…

31A-37-403. Participants in sponsored captive insurance companies. (1) Any of the following may be a participant in a sponsored captive insurance company holding a certificate of authority under this chapter: (a) an association; (b) a corporation that is for profit or nonprofit; …

31A-37-404. Sponsored captive insurance companies -- Reserves opinion and discounting. (1) A sponsored captive insurance company may discount the sponsored captive insurance company's loss and loss adjustment expense reserves at treasury rates applied to the applicable payments p…

31A-37-501. Reports to commissioner. (1) A captive insurance company is not required to make a report except those provided in this chapter. (2)(a) Before March 1 of each year, a captive insurance company shall submit to the commissioner a report of the financial condition of the…