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2024 Utah Code
Title 31A - Insurance Code
Chapter 23a - Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries
Part 8 - Reinsurance Intermediaries
Section 804 - Duties of insurers utilizing the services of a reinsurance intermediary-broker.
Universal Citation:
UT Code § 31A-23a-804 (2024)
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31A-23a-804. Duties of insurers utilizing the services of a reinsurance intermediary-broker.
Renumbered and Amended by Chapter 298, 2003 General Session
- (1) An insurer may not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-broker on its behalf unless the person is licensed as required by Subsection 31A-23a-801(1).
- (2) An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business, unless the reinsurance intermediary-broker is under common control with the insurer and subject to Title 31A, Chapter 16, Insurance Holding Companies.
- (3) The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.
Renumbered and Amended by Chapter 298, 2003 General Session
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