48-4-402. Availability of annual benefit report.
(1) |
Each year, a benefit company shall send the benefit report described in Section 48-4-401 to each member:
(a) |
within 120 days after the day on which the benefit company’s fiscal year ends; or |
(b) |
the day on which the benefit company delivers any other annual report to the benefit company’s members. |
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(2) |
(a) |
Within five days after the day on which a benefit company sends a benefit report to each member in accordance with Subsection (1), the benefit company shall:
(i) |
subject to Subsection (2)(b), post a copy of the benefit report on a public portion of the benefit company’s website; and |
(ii) |
deliver a copy of the benefit report to the division for filing. |
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(b) |
If a benefit company does not have a website, the benefit company shall provide a copy of the benefit report, without charge, to any person who requests a copy. |
(c) |
The benefit company may omit any financial or proprietary information from a copy of a benefit report described in Subsection (2)(a) or (b). |
(d) |
The division may charge a fee established by the division in accordance with Section 63J-1-504 for filing an annual benefit report in accordance with this section. |
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Enacted by Chapter 201, 2018 General Session