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Utah Code Title 31A. Insurance Code § 31A-27a-110. Cooperation of officers, owners, and employees

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) As used in this section:

(a) “Cooperate” includes to:

(i) reply promptly in writing to an inquiry from the commissioner or receiver requesting a reply; and

(ii) promptly make available to the commissioner or receiver any record, account, information, or property:

(A) of or pertaining to the insurer; and

(B) in the person's possession, custody, or control.

(b) “Person” includes a person who exercises control directly or indirectly over activities of the insurer through:

(i) a holding company; or

(ii) other affiliate of the insurer.

(2) The following shall cooperate with the commissioner or receiver in a proceeding under this chapter or an investigation preliminary to a proceeding under this chapter:

(a) a present or former officer, manager, director, trustee, owner, or employee of an insurer;

(b) a present or former agent of an insurer; or

(c) a person with authority over or in charge of any segment of the insurer's affairs.

(3) A person may not obstruct or interfere with the commissioner or receiver in the conduct of:

(a) a delinquency proceeding; or

(b) an investigation preliminary or incidental to a delinquency proceeding.

(4) This section may not be construed to abridge otherwise existing legal rights, including the right to resist:

(a) a petition for liquidation or other delinquency proceeding; or

(b) other orders.

(5)(a) A person described in Subsection (5)(b) is:

(i) guilty of a class B misdemeanor, except that the fine may exceed $1,000 but may not exceed $10,000; or

(ii) after a hearing, subject to:

(A) the commissioner imposing a civil penalty that may not exceed $10,000;

(B) the revocation or suspension of an insurance license issued by the commissioner; or

(C) a combination of Subsections (5)(a)(ii)(A) and (B).

(b) This Subsection (5) applies to:

(i) a person described in Subsection (2) who fails to cooperate with the commissioner or receiver;

(ii) a person who obstructs or interferes with the commissioner or receiver in the conduct of a delinquency proceeding or an investigation preliminary or incidental to a delinquency proceeding; or

(iii) a person who violates an order validly issued under this chapter.

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Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-27a-110. Cooperation of officers, owners, and employees - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-27a-110/

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