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Utah Code Title 31A. Insurance Code § 31A-40-302. Licensing process

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

(1) To apply for an initial or renewal license under this chapter, a person shall:

(a)(i) submit an application with the commissioner on a form and in a manner the commissioner shall determine by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act; and

(ii) pay a license fee determined in accordance with Section 31A-3-103 that is not refunded if the application:

(A) is denied;

(B) does not comply with Section 31A-40-303; or

(C) if incomplete, is never completed by the person filing the application; or

(b) comply with Section 31A-40-303.

(2) In the application described in Subsection (1)(a), the person shall provide:

(a) any name under which the professional employer organization will engage in a professional employer service;

(b) the address of the principal place of business of the professional employer organization;

(c) the address of each location the professional employer organization maintains in this state;

(d) the professional employer organization's federal taxpayer or employer identification number;

(e) the following information by jurisdiction of each name under which the professional employer organization operated in the five years preceding the day on which the person submits the application:

(i) the name;

(ii) an alternative name, if any;

(iii) a name of a predecessor; and

(iv) if known, a successor business entity;

(f) a statement of ownership that includes the name and evidence of the business experience of a person that, individually or acting in concert with one or more other persons, owns or controls, directly or indirectly, 10% or more of the equity interests of the professional employer organization;

(g) a statement of management that includes the name and evidence of the business experience of an individual who:

(i) serves as president of the professional employer organization;

(ii) serves as chief executive officer of the professional employer organization; or

(iii) may act as a senior executive officer of the professional employer organization; and

(h) a financial statement that:

(i) sets forth the financial condition of:

(A) the professional employer organization; or

(B) a professional employer organization group in which the professional employer organization is a member;

(ii) states whether or not the professional employer organization complies with Section 31A-40-205; and

(iii) complies with Section 31A-40-305.

(3) A professional employer organization shall renew its license by no later than October 1 of each year.

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Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-40-302. Licensing process - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-40-302/

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