Title 31A, Insurance Code

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) A captive insurance company, other than a …

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 Title 63G, Chapter 3, Utah Administrative Rulemaking Act.…

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: (a) "Ceding insurer" means an insurer that: (i) is approved by the commissioner; (ii) is licensed or otherwise authorized to transact the business of insurance or reinsurance in the insurer's state or country of domicile…

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

31A-37a-104. Reporting -- Books and records. (1) For purposes of Section 31A-37-501: (a) 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 (b) a special purpose f…

31A-37a-105. Transition. (1)(a) 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 Chapter 37, Captive Insurance Companies Act, and engages in insurance securitizatio…

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 Sections 31A-37a-501 and 31A-37a-502, the commissioner may not revoke, suspend, amend, or modify a certificate of authority issued to a special purpose financial c…

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)(a) Subject to Subsection (2)(b), a special purpo…

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 Chapter 37, Captive Insurance Companies Act, that has a certificate of authority as a special purpose financial captive in…

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

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) A special purpose financial captive insurance company may: (i) 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 (ii) exce…

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) A special purpose financial captive insurance company may reinsure only the risks of a ceding insurer, pursuant to a reinsurance contract. (b) A special purpose financial captive insurance company may not issue a contract of insurance or…

31A-37a-501. Suspension and revocation. (1)(a) 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 Se…

31A-37a-502. Delinquency. (1) Except as otherwise provided in this section, Chapter 27a, Insurer Receivership Act, applies to a special purpose financial captive insurance company. (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: (a) to implement the federal health coverage tax credit program; (b) with federal funds; and (c) for qualified participant…

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: (a) the employee is or was an employee…

31A-38-104. Authorization -- Money transferred for reserves. (1) The Department of Workforce Services may: (a) 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 s…

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)(a) Except as provided in Subsection (1)(b), "administrative fee" means a fee charged to a client by a professional employer organization for a professional employer service. (b) "Administrative fee" does not include an amount …

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

31A-40-104. Confidentiality -- Cooperation with other agencies. (1) Notwithstanding Title 63G, Chapter 2, Government Records Access and Management Act, and except as provided in Subsection (2), (3), or (4), the commissioner or department may not disclose information obtained from…

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

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)(a) 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. (b) An individual who is a covered employee under a professional…

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: (a) collective bargaining agreement; or (b) right or obligation of a…

31A-40-205. Financial capability. (1) Except as provided in Subsection (2) or (4), 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…

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

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

31A-40-208. Benefit plan. (1) A client and a professional employer organization licensed under this chapter shall each be considered an employer for purposes of sponsoring a retirement or welfare benefit plan for a covered employee. (2)(a) A fully insured welfare benefit plan off…

31A-40-209. Workers' compensation. (1) In accordance with Section 34A-2-103, a client is responsible for securing workers' compensation coverage for a covered employee. (2) Subject to the requirements of Section 34A-2-103, if a professional employer organization obtains or assist…

31A-40-210. Unemployment compensation insurance. (1) For purposes of Title 35A, Chapter 4, Employment Security Act, a covered employee of a professional employer organization licensed under this chapter is considered the employee of the professional employer organization. (2) The…

31A-40-211. Employment related economic incentives -- Employment information -- Client's status. (1) Notwithstanding the other provisions of this chapter, for purposes of determining eligibility for an employment related economic incentive, a covered employee is considered only a…

31A-40-212. Determination of joint employers -- Franchisors excluded. (1)(a) For purposes of determining whether two or more persons are considered joint employers under this chapter, an administrative ruling of a federal executive agency may not be considered a generally applica…

31A-40-301. Licensing required. (1) Except as otherwise provided in this chapter, a person may not engage in the following before the day on which the person is licensed under this chapter: (a) providing a professional employer service in this state; (b) advertising that the pers…

31A-40-302. Licensing process. (1) To apply for an initial or renewal license under this chapter, a person shall: (a)(i) submit an application with the commissioner on a form and in a manner the commissioner shall determine by rule made in accordance with Title 63G, Chapter 3, Ut…

31A-40-303. Licensed through an assurance organization. (1)(a) A person may comply with Section 31A-40-302 by: (i) filing with the commissioner: (A) a certification that an assurance organization certifies the qualifications of the professional employer organization; (B) the info…

31A-40-304. Small operation license. (1) A professional employer organization may obtain a small operation license under this chapter if the professional employer organization: (a) files an application for a small operation license with the commissioner: (i) on a form and in a ma…

31A-40-305. Financial statements required for licensing. (1)(a) A person that files a financial statement with an application for an initial license under Section 31A-40-302 shall file the professional employer organization's most recent audit as of the day the application is fil…