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Current as of January 01, 2025 | Updated by Findlaw Staff
(1)(a) An insurer may not assume any obligation to any person other than a policyholder or other company under common control, to use or adhere to certain rates or rating procedures.
(b) Except for a policyholder or other company under common control, a person may not impose any penalty or other adverse consequence for failure of an insurer to adhere to certain rates or rating procedures.
(2) This section does not apply to rates used:
(a) by a joint underwriting group;
(b) by a pool;
(c) under quota share reinsurance treaties; or
(d) by a residual market mechanism.
Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-19a-305. Anti-competitive agreements prohibited - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-19a-305/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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