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Terms Used In Utah Code 31A-23a-113

  • 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
  • Disability: means a physiological or psychological condition that partially or totally limits an individual's ability to:
         (51)(a) perform the duties of:
              (51)(a)(i) that individual's occupation; or
              (51)(a)(ii) an occupation for which the individual is reasonably suited by education, training, or experience; or
         (51)(b) perform two or more of the following basic activities of daily living:
              (51)(b)(i) eating;
              (51)(b)(ii) toileting;
              (51)(b)(iii) transferring;
              (51)(b)(iv) bathing; or
              (51)(b)(v) dressing. See Utah Code 31A-1-301
  • Home state: means :
         (3)(a) a state or territory of the United States or the District of Columbia in which an insurance producer, limited lines producer, consultant, managing general agent, or reinsurance intermediary licensee:
              (3)(a)(i) maintains the licensee's principal:
                   (3)(a)(i)(A) place of residence; or
                   (3)(a)(i)(B) place of business; and
              (3)(a)(ii) is licensed to act as a resident licensee; or
         (3)(b) if the resident state, territory, or the District of Columbia described in Subsection (3)(a) does not license for the line of authority sought, a state, territory, or the District of Columbia:
              (3)(b)(i) in which the licensee is licensed;
              (3)(b)(ii) in which the licensee is in good standing; and
              (3)(b)(iii) that the licensee has designated as the licensee's designated home state. See Utah Code 31A-23a-102
  • License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
  • 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
  • Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
     (1)(a) A license issued under this chapter, including a line of authority, shall lapse if the licensee fails to:

          (1)(a)(i) pay when due a fee under Section 31A-3-103;
          (1)(a)(ii) complete continuing education requirements under Section 31A-23a-202 before submitting the license renewal application;
          (1)(a)(iii) submit a completed renewal application as required by Section 31A-23a-104;
          (1)(a)(iv) submit additional documentation required to complete the licensing process as related to a specific license type or line of authority; or
          (1)(a)(v) maintain an active license in a licensee’s home state if the licensee is a nonresident licensee.
     (1)(b) A license that lapses shall expire effective at midnight on the day on which the license expires.
     (1)(c)

          (1)(c)(i) A licensee whose license lapses may request reinstatement of the license and line of authority no more than one year after the day on which the license lapses.
          (1)(c)(ii) A licensee whose license lapses due to the following may request an action described in Subsection (1)(c)(iii):

               (1)(c)(ii)(A) military service;
               (1)(c)(ii)(B) voluntary service for a period of time designated by the person for whom the licensee provides voluntary service; or
               (1)(c)(ii)(C) some other extenuating circumstances, including long-term medical disability.
          (1)(c)(iii) A licensee described in Subsection (1)(c)(ii) may request:

               (1)(c)(iii)(A) reinstatement of the license and line of authority no later than one year after the day on which the license lapses; and
               (1)(c)(iii)(B) waiver of any of the following imposed for failure to comply with renewal procedures:

                    (1)(c)(iii)(B)(I) an examination requirement;
                    (1)(c)(iii)(B)(II) reinstatement fees set under Section 31A-3-103;
                    (1)(c)(iii)(B)(III) continuing education requirements; or
                    (1)(c)(iii)(B)(IV) other sanction imposed for failure to comply with renewal procedures.
(2) If a license or line of authority issued under this chapter is voluntarily surrendered, the license or line of authority may be reinstated:

     (2)(a) during the license period in which the license or line of authority is voluntarily surrendered; and
     (2)(b) no later than one year after the day on which the license or line of authority is voluntarily surrendered.