Utah Code 31A-23a-104. Application for individual license — Application for agency license
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(1) This section applies to an initial or renewal license as a:
Terms Used In Utah Code 31A-23a-104
- Agency: means :(6)(a) a person other than an individual, including a sole proprietorship by which an individual does business under an assumed name; and(6)(b) an insurance organization licensed or required to be licensed under Section
31A-23a-301 ,31A-25-207 , or31A-26-209 . See Utah Code 31A-1-301- Application: means a document:
(10)(a)(10)(a)(i) completed by an applicant to provide information about the risk to be insured; and(10)(a)(ii) that contains information that is used by the insurer to evaluate risk and decide whether to:(10)(a)(ii)(A) insure the risk under:(10)(a)(ii)(A)(I) the coverage as originally offered; or(10)(a)(ii)(A)(II) a modification of the coverage as originally offered; or(10)(a)(ii)(B) decline to insure the risk; or(10)(b) used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301- Armed forces: means the United States Army, Navy, Air Force, Marine Corps, Space Force, and Coast Guard. See Utah Code 68-3-12.5
- consultant: means a person who:
(99)(a) advises another person about insurance needs and coverages;(99)(b) is compensated by the person advised on a basis not directly related to the insurance placed; and(99)(c) except as provided in Section31A-23a-501 , is not compensated directly or indirectly by an insurer or producer for advice given. See Utah Code 31A-1-301- Department: means the Insurance Department. See Utah Code 31A-1-301
- Filed: means that a filing is:
(69)(a)(i) submitted to the department as required by and in accordance with applicable statute, rule, or filing order;(69)(a)(ii) received by the department within the time period provided in applicable statute, rule, or filing order; and(69)(a)(iii) accompanied by the appropriate fee in accordance with:(69)(a)(iii)(A) Section31A-3-103 ; or(69)(a)(iii)(B) rule. See Utah Code 31A-1-301- Individual: means a natural person. See Utah Code 31A-1-301
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
- Managing general agent: means a person that:
(6)(a)(i) manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office;(6)(a)(ii) acts as an agent for the insurer whether it is known as a managing general agent, manager, or other similar term;(6)(a)(iii) produces and underwrites an amount of gross direct written premium equal to, or more than, 5% of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year:(6)(a)(iii)(A) with or without the authority;(6)(a)(iii)(B) separately or together with an affiliate; and(6)(a)(iii)(C) directly or indirectly; and(6)(a)(iv)(6)(a)(iv)(A) adjusts or pays claims in excess of an amount determined by the commissioner; or(6)(a)(iv)(B) negotiates reinsurance on behalf of the insurer. See Utah Code 31A-23a-102- Person: includes :
(146)(a) an individual;(146)(b) a partnership;(146)(c) a corporation;(146)(d) an incorporated or unincorporated association;(146)(e) a joint stock company;(146)(f) a trust;(146)(g) a limited liability company;(146)(h) a reciprocal;(146)(i) a syndicate; or(146)(j) another similar entity or combination of entities acting in concert. See Utah Code 31A-1-301- producer: means a person licensed or required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Utah Code 31A-1-301
- Reinsurance: means an insurance transaction where an insurer, for consideration, transfers any portion of the risk it has assumed to another insurer. See Utah Code 31A-1-301
- Resident: is a s defined by rule made by the commissioner in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. See Utah Code 31A-23a-102
- Security: means a:
(176)(a)(i) note;(176)(a)(ii) stock;(176)(a)(iii) bond;(176)(a)(iv) debenture;(176)(a)(v) evidence of indebtedness;(176)(a)(vi) certificate of interest or participation in a profit-sharing agreement;(176)(a)(vii) collateral-trust certificate;(176)(a)(viii) preorganization certificate or subscription;(176)(a)(ix) transferable share;(176)(a)(x) investment contract;(176)(a)(xi) voting trust certificate;(176)(a)(xii) certificate of deposit for a security;(176)(a)(xiii) certificate of interest of participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease;(176)(a)(xiv) commodity contract or commodity option;(176)(a)(xv) certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the items listed in Subsections (176)(a)(i) through (xiv); or(176)(a)(xvi) another interest or instrument commonly known as a security. See Utah Code 31A-1-301- 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
- Surplus: means the excess of assets over the sum of paid-in capital and liabilities. See Utah Code 31A-1-301
- United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
(1)(a) producer;(1)(b) surplus lines producer;(1)(c) limited line producer;(1)(d) consultant;(1)(e) managing general agent; or(1)(f) reinsurance intermediary.(2)(2)(a) Subject to Subsection (2)(b), to obtain or renew an individual license, an individual shall:(2)(a)(i) file an application for an initial or renewal individual license with the commissioner on forms and in a manner the commissioner prescribes; and(2)(a)(ii) except as provided in Subsection (6), pay a license fee that is not refunded if the application:(2)(a)(ii)(A) is denied; or(2)(a)(ii)(B) is incomplete when filed and is never completed by the applicant.(2)(b) An application described in this Subsection (2) shall provide:(2)(b)(i) information about the applicant’s identity;(2)(b)(ii) the applicant’s Social Security number;(2)(b)(iii) the applicant’s personal history, experience, education, and business record;(2)(b)(iv) whether the applicant is 18 years of age or older;(2)(b)(v) whether the applicant has committed an act that is a ground for denial, suspension, or revocation as set forth in Section 31A-23a-105 or 31A-23a-111;(2)(b)(vi) if the application is for a resident individual producer license, certification that the applicant complies with Section 31A-23a-203.5; and(2)(b)(vii) any other information the commissioner reasonably requires.(3) The commissioner may require a document reasonably necessary to verify the information contained in an application filed under this section.(4) An applicant’s Social Security number contained in an application filed under this section is a private record under Section 63G-2-302.(5)(5)(a) Subject to Subsection (5)(b), to obtain or renew an agency license, a person shall:(5)(a)(i) file an application for an initial or renewal agency license with the commissioner on forms and in a manner the commissioner prescribes; and(5)(a)(ii) pay a license fee that is not refunded if the application:(5)(a)(ii)(A) is denied; or(5)(a)(ii)(B) is incomplete when filed and is never completed by the applicant.(5)(b) An application described in Subsection (5)(a) shall provide:(5)(b)(i) information about the applicant’s identity;(5)(b)(ii) the applicant’s federal employer identification number;(5)(b)(iii) the designated responsible licensed individual;(5)(b)(iv) the identity of the owners, partners, officers, and directors;(5)(b)(v) whether the applicant has committed an act that is a ground for denial, suspension, or revocation as set forth in Section 31A-23a-105 or 31A-23a-111; and(5)(b)(vi) any other information the commissioner reasonably requires.(6) The following individuals are exempt from paying a license fee:(6)(a) an individual serving in the armed forces of the United States while the individual is stationed within this state, if:(6)(a)(i) the individual holds a valid license to practice the regulated occupation or profession issued by any other state or jurisdiction recognized by the department; and(6)(a)(ii) the license is current and the individual is in good standing in the state or jurisdiction of licensure; and(6)(b) the spouse of an individual serving in the armed forces of the United States while the individual is stationed within this state, if:(6)(b)(i) the spouse holds a valid license to practice the regulated occupation or profession issued by any other state or jurisdiction recognized by the department; and(6)(b)(ii) the license is current and the spouse is in good standing in the state or jurisdiction of licensure. - Application: means a document: