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2025 Utah Code
Title 31A - Insurance Code
Chapter 16b - Corporate Governance Annual Disclosure Act
Section 107 - Third-party consultants.
Universal Citation:
UT Code § 31A-16b-107 (2025)
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Effective 1/1/2020
31A-16b-107. Third-party consultants.
Enacted by Chapter 193, 2019 General Session
31A-16b-107. Third-party consultants.
- (1) The commissioner may retain a third-party consultant, including an attorney, actuary, accountant, or other expert not otherwise a part of the commissioner's staff:
- (a) at the insurer's or insurance group's expense; and
- (b) as is reasonably necessary to assist the commissioner in reviewing the insurer's or insurance group's:
- (i) corporate governance annual disclosure and related information; or
- (ii) compliance with this chapter.
- (2) A person the commissioner retains under Subsection (1):
- (a) is under the direction and control of the commissioner; and
- (b) shall act in a purely advisory capacity.
- (3) As part of the retention process, a third-party consultant shall verify to the commissioner, with notice to the insurer or insurance group, that the third-party consultant:
- (a) is free of a conflict of interest; and
- (b) has internal procedures in place to:
- (i) monitor compliance with Subsection (3)(a); and
- (ii) comply with the confidentiality standards and requirements of this chapter.
Enacted by Chapter 193, 2019 General Session
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