Title 31A, Title 31A: Insurance Code

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 plan; a pool; an association; a guaranty fund; or an insolvency fund. (2) A captive insurance compa…

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: an insurer authorized or approved under the laws of a state; a reinsurer authorized or approved under the laws of a state; a c…

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: an association; a corporation that is for profit or nonprofit; a limite…

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) Before March 1 of each year, a captive insurance company shall submit to the commissioner a report of the financial condition of the ca…

31A-37-502. Examination. (1) As provided in this section, the commissioner, or a person appointed by the commissioner, may examine each captive insurance company at least once every five years, or more frequently if the commissioner determines a more frequent examination is prude…

31A-37-503. Classification and use of records. (1) The following shall be classified as a protected record under: Title 63G, Chapter 2, Government Records Access and Management Act examination, analysis, and licensing application reports under this chapter; preliminary examinatio…

31A-37-504. Examinations for branch and alien captive insurance companies. (1) The examination for a branch captive insurance company shall be of branch business and branch operations only, if the branch captive insurance company: provides annually to the commissioner a certifica…

31A-37-505. Suspension or revocation -- Grounds. (1) The commissioner may suspend or revoke the certificate of authority of a captive insurance company to conduct an insurance business in this state for: insolvency or impairment of capital or surplus; failure to meet the requirem…

31A-37-701. Certificate of dormancy. (1) In accordance with the provisions of this section, a captive insurance company, other than a risk retention group, may apply, without fee, to the commissioner for a certificate of dormancy. (2) A captive insurance company, other than a ris…

31A-37-702. Cancelling a certificate of dormancy. A captive insurance company may apply to cancel its certificate of dormancy by complying with the procedures established in rule made by the commissioner in accordance with.

31A-37a-101. Title. This chapter is known as the "Special Purpose Financial Captive Insurance Company Act."

31A-37a-102. Definitions. (1) For purposes of this chapter: "Ceding insurer" means an insurer that: is approved by the commissioner; is licensed or otherwise authorized to transact the business of insurance or reinsurance in the insurer's state or country of domicile; and cedes r…

31A-37a-103. Applicable law. (1) A special purpose financial captive insurance company is subject to: this chapter; and. Chapter 37, Captive Insurance Companies Act If there is a conflict between this chapter and, this chapter controls. Chapter 37, Captive Insurance Companies Act…

31A-37a-104. Reporting -- Books and records. (1) For purposes of Section: 31A-37-501 the commissioner shall, by rule or order, establish the form and content of the annual report to be filed by a special purpose financial captive insurance company; and a special purpose financial…

31A-37a-105. Transition. (1) Except as otherwise determined by the commissioner, a captive insurance company that on May 5, 2008 has a certificate of authority from the commissioner pursuant to, and engages in insurance securitization: Chapter 37, Captive Insurance Companies Act …

31A-37a-201. Certificate of authority requirements. (1) A person may not reinsure the risks of a ceding insurer unless the person has a certificate of authority under this chapter as a special purpose financial captive insurance company. (2) To apply for a certificate of authorit…

31A-37a-202. Revocation, suspension, amendment, or modification of a certificate of authority. Except as provided in Sectionsand, the commissioner may not revoke, suspend, amend, or modify a certificate of authority issued to a special purpose financial captive insurance company …

31A-37a-203. Reporting related to transactions. (1) A special purpose financial captive insurance company shall provide the commissioner with a copy of a complete set of executed documentation of an insurance securitization no later than 30 days after the day on which the insuran…

31A-37a-204. Prior approval of a change in plan of operation and other transactions. (1) A special purpose financial captive insurance company may not change its plan of operation without the prior approval of the commissioner. (2) Subject to Subsection, a special purpose financi…

31A-37a-205. Sponsored captives. (1) In addition to the other provisions of this chapter, this section applies to a sponsored captive insurance company under, that has a certificate of authority as a special purpose financial captive insurance company in accordance with this chap…

31A-37a-301. Formation. (1) A special purpose financial captive insurance company may be: incorporated as a stock insurer with its capital divided into shares and held by its stockholders; or organized as a manager-managed limited liability company. (2) A special purpose financia…

31A-37a-302. Minimum capital and surplus. (1) The commissioner may not issue a special purpose financial captive insurance company a certificate of authority under this chapter unless it possesses unimpaired paid-in capital and surplus of not less than $250,000 on the day on whic…

31A-37a-303. Disposition of assets -- Investments. (1) A special purpose financial captive insurance company or a person on its behalf shall preserve and administer an asset of the special purpose financial captive insurance company to satisfy the liabilities and obligations of t…

31A-37a-304. Securities. (1) A special purpose financial captive insurance company may: subject to the prior approval of the commissioner, account for the proceeds of a surplus note issued by the special purpose financial captive insurance company as surplus; and except as provid…

31A-37a-401. Purchase of reinsurance. Subject to the prior approval of the commissioner, a special purpose financial captive insurance company may purchase reinsurance to cede the risks assumed under a reinsurance contract.

31A-37a-402. Permitted reinsurance. (1) A special purpose financial captive insurance company may reinsure only the risks of a ceding insurer, pursuant to a reinsurance contract. A special purpose financial captive insurance company may not issue a contract of insurance or a cont…

31A-37a-501. Suspension and revocation. (1) The commissioner shall notify a special purpose financial captive insurance company not less than 30 days before suspending or revoking the special purpose financial captive insurance company's certificate of authority pursuant to Secti…

31A-37a-502. Delinquency. (1) Except as otherwise provided in this section,, applies to a special purpose financial captive insurance company. Chapter 27a, Insurer Receivership Act (2) Upon an order of supervision, rehabilitation, or liquidation of a special purpose financial cap…

31A-38-101. Title. This chapter is known as the "Federal Health Care Tax Credit Program Act."

31A-38-102. Definitions. As used in this chapter: (1) "Bridge program" means the program established by the Department of Workforce Services on July 1, 2003: to implement the federal health coverage tax credit program; with federal funds; and for qualified participants. (2) "Fede…

31A-38-103. Implementation of the federal health coverage tax credit program. (1) An employee is considered to be an employee of the employee's last employer for purposes of participating in the federal health coverage tax credit program if: the employee is or was an employee of …

31A-38-104. Authorization -- Money transferred for reserves. (1) The Department of Workforce Services may: convert the bridge program to the state program through any of the following, or combination of the following, that the Department of Workforce Services considers best serve…

31A-39-101. Interstate Insurance Product Regulation Compact. Pursuant to the terms and conditions of this Act, the State of Utah seeks to join with other States and establish the Interstate Insurance Product Regulation Compact, and thus become a member of the Interstate Insurance…

31A-40-101. Title. This chapter is known as the "Professional Employer Organization Licensing Act."

31A-40-102. Definitions. As used in this chapter: (1) Except as provided in Subsection, "administrative fee" means a fee charged to a client by a professional employer organization for a professional employer service. (1)(b) "Administrative fee" does not include an amount or a fe…

31A-40-103. Duties of the commissioner. (1) The commissioner shall maintain a list of professional employer organizations that are licensed under this chapter. The commissioner shall make the list required by this Subsectionavailable to the public by electronic or other means. (1…

31A-40-104. Confidentiality -- Cooperation with other agencies. (1) Notwithstanding, and except as provided in Subsection,, or, the commissioner or department may not disclose information obtained from a professional employer organization under this chapter. Title 63G, Chapter 2,…

31A-40-201. Enforceable rights and obligations. (1) In a coemployment relationship under a professional employer agreement: a professional employer organization: may only enforce a right of an employer that is specifically allocated to the professional employer organization under…

31A-40-202. Professional employer agreement -- Specific responsibilities. (1) Except as specifically provided in this chapter, a coemployment relationship between a client and a professional employer organization, and between each coemployer and a covered employee, is governed by…

31A-40-203. Covered employee. (1) An individual is a covered employee of a professional employer organization if the individual is coemployed pursuant to a professional employer agreement subject to this chapter. An individual who is a covered employee under a professional employ…

31A-40-204. Rights and obligations unaffected -- Licensed, registered, or certified occupations or professions. (1) This chapter does not and a professional employer agreement may not affect, modify, or amend a: collective bargaining agreement; or right or obligation of a client,…

31A-40-205. Financial capability. (1) Except as provided in Subsectionor, as of the day a person applies for licensure or renewal of a license and at all times while licensed, a professional employer organization or collectively a professional employer organization group shall: (…

31A-40-206. Professional employer service not insurance. (1) A professional employer organization licensed under this chapter is not consideredengaged in the sale of insurance or as acting as a third party administrator when the professional employer organization engages in one o…

31A-40-207. Taxation. (1) A covered employee whose service is subject to a sales or use tax under, is considered the employee of the client for purposes of imposing and collecting the sales or use tax on the service performed by the covered employee. Title 59, Chapter 12, Sales a…