Utah Code 31A-23a-604. Examination authority
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Terms Used In Utah Code 31A-23a-604
- Insurer: is a s defined in Section 31A-1-301, except that the following persons or similar persons are not insurers for purposes of 7:
(a) a risk retention group as defined in: (i) the Superfund Amendments and Reauthorization Act of 1986, Pub. See Utah Code 31A-23a-102 - Managing general agent: means a person that:
(i) manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office; (ii) acts as an agent for the insurer whether it is known as a managing general agent, manager, or other similar term; (iv) (A) adjusts or pays claims in excess of an amount determined by the commissioner; or (B) negotiates reinsurance on behalf of the insurer. See Utah Code 31A-23a-102 The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing general agent may be examined as if it were the insurer.Renumbered and Amended by Chapter 298, 2003 General Session
- Managing general agent: means a person that: