Go to Previous Versions
of
this Section
2025 Utah Code
Title 31A - Insurance Code
Chapter 36 - Life Settlements Act
Section 117 - Antifraud initiatives.
Universal Citation:
UT Code § 31A-36-117 (2025)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
31A-36-117. Antifraud initiatives.
Amended by Chapter 355, 2009 General Session
- (1) The following shall establish and maintain antifraud initiatives which are reasonably calculated to prevent, detect, and assist in the prosecution of violations of Section 31A-36-113:
- (a) a life settlement provider; and
- (b) an agency that is a life settlement producer.
- (2) The commissioner may order, or a licensee may request and the commissioner may approve, modifications of the measures otherwise required under this section, more or less restrictive than those measures, as necessary to protect against fraud.
- (3) Antifraud initiatives shall include:
- (a) fraud investigators, that may be either:
- (i) employees of a life settlement provider or life settlement producer; or
- (ii) independent contractors;
- (b) an antifraud plan submitted to the commissioner, which shall include:
- (i) a description of the procedures for:
- (A) detecting and investigating possible violations of Section 31A-36-113; and
- (B) resolving material inconsistencies between medical records and applications for insurance;
- (ii) a description of the procedures for reporting possible violations to the commissioner;
- (iii) a description of the plan for educating and training underwriters and other personnel against fraud; and
- (iv) a description or chart of the organizational arrangement of the personnel responsible for detecting and investigating possible violations of Section 31A-36-113 and for resolving material inconsistencies between medical records and applications for insurance.
- (i) a description of the procedures for:
- (a) fraud investigators, that may be either:
- (4) A plan submitted to the commissioner shall be classified as a protected record under Title 63G, Chapter 2, Government Records Access and Management Act.
Amended by Chapter 355, 2009 General Session
Disclaimer: These codes may not be the most recent version. Utah may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
