Utah Code 63E-1-304. Limitations on risk management coverage
Current as of: 2024 | Check for updates
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(1) Except as specifically modified in its authorizing statute, an independent entity is not eligible to receive coverage under the Risk Management Fund created by Section 63A-4-201 or any captive insurance company created by the risk manager.
Terms Used In Utah Code 63E-1-304
- Independent entity: means an entity having a public purpose relating to the state or its citizens that is individually created by the state or is given by the state the right to exist and conduct its affairs as an:(4)(a)(i) independent state agency; or(4)(a)(ii) independent corporation. See Utah Code 63E-1-102
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Statute: A law passed by a legislature.
(2) If an independent entity that receives coverage under the Risk Management Fund or any captive insurance company created by the risk manager is involved in a commercial activity, the state risk manager may require that the entity:(2)(a) procure commercial insurance coverage or provide proof of vendor’s insurance coverage for the commercial activity; and(2)(b) comply with loss prevention measures specified by the state risk manager.