2006 Utah Code - 31A-36-114 — Reporting of fraud and immunity.

     31A-36-114.   Reporting of fraud and immunity.
     (1) A person engaged in the business of viatical settlements that knows or reasonably believes that a violation of Section 31A-36-113 is being, has been, or will be committed shall provide to the commissioner the information required by, and in a manner prescribed by, the commissioner.
     (2) Any other person that knows or reasonably believes that a violation of Section 31A-36-113 is being, has been, or will be committed may furnish to the commissioner the information required by, and in a manner prescribed by, the commissioner.
     (3) Except as provided in Subsection (4), a person furnishing information of the kind described in this section is immune from liability and civil action if the information is furnished to or received from:
     (a) the commissioner or the commissioner's employees, agents, or representatives;
     (b) federal, state, or local law enforcement or regulatory officials or their employees, agents, or representatives;
     (c) another person involved in the prevention or detection of violations of Section 31A-36-113 or that person's employees, agents, or representatives;
     (d) the following organizations or their employees, agents, or representatives:
     (i) the National Association of Insurance Commissioners;
     (ii) the National Association of Securities Dealers;
     (iii) the North American Securities Administrators Association; or
     (iv) another regulatory body overseeing life insurance, viatical settlements, securities, or investment fraud; or
     (e) the insurer that issued the policy concerned in the information.
     (4) The immunity provided in Subsection (3) does not extend to a statement made with actual malice. In an action brought against a person for filing a report or furnishing other information concerning a violation of this section, the plaintiff must plead specifically that the defendant acted with actual malice.
     (5) A person identified in Subsection (3) shall be entitled to an award of attorney's fees and costs if:
     (a) the person is the prevailing party in a civil cause of action for libel, slander, or any other relevant tort arising out of activities in carrying out the provisions of this chapter; and
     (b) the action did not have a reasonable basis in law or fact at the time it was initiated.
     (6) This section does not supplant or modify any other privilege or immunity at common law or under another statute.

Enacted by Chapter 81, 2003 General Session