Utah Code 31A-6b-202. Registration process — Annual fee
Current as of: 2024 | Check for updates
|
Other versions
(1) If a person is required to register under Section 31A-6b-201, to register the person shall submit to the commissioner:
Terms Used In Utah Code 31A-6b-202
- 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
- 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- Sell: means to exchange a contract of insurance:
(179)(a) by any means;(179)(b) for money or its equivalent; and(179)(c) on behalf of an insurance company. See Utah Code 31A-1-301(1)(a) an application for registration;(1)(b) a copy of any guaranteed asset protection waiver that the person will issue, market, sell, offer to sell, or otherwise provide in this state; and(1)(c) a registration fee established by the commissioner in accordance with Section 31A-3-103, except that the registration fee may not exceed $1,000.(2)(2)(a) On and after July 1, 2011, a person registered under this title shall pay to the commissioner an annual fee:(2)(a)(i) by no later than July 1 of each year after the day on which the person registers; and(2)(a)(ii) established by the commissioner in accordance with Section 31A-3-103, except that the annual fee may not exceed $1,000.(2)(b) If a person fails to pay the annual fee required under this Subsection (2) by October 1, the person’s registration expires.(3) The commissioner shall deposit a fee collected under this section into the restricted account. - Person: includes :