a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
(ii)
a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and
(iii)
a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
Person: includes :
(a)
an individual;
(b)
a partnership;
(c)
a corporation;
(d)
an incorporated or unincorporated association;
(e)
a joint stock company;
(f)
a trust;
(g)
a limited liability company;
(h)
a reciprocal;
(i)
a syndicate; or
(j)
another similar entity or combination of entities acting in concert. See Utah Code 31A-1-301
Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(a)
If a nonresident license applicant has a valid license from the nonresident license applicant’s home state or designated home state and the conditions of Subsection (1)(b) are met, the commissioner shall:
(i)
waive any license requirement for a license under this chapter; and
(ii)
issue the nonresident license applicant a nonresident third party administrator license.
(b)
Subsection (1)(a) applies if:
(i)
the nonresident license applicant:
(A)
is licensed in the nonresident license applicant’s home state or designated home state at the time the nonresident license applicant applies for a nonresident third party administrator license;
(B)
has submitted the proper request for licensure;
(C)
has submitted to the commissioner:
(I)
the application for licensure that the nonresident license applicant submitted to the applicant’s home state or designated home state; or
(II)
a completed uniform application; and
(D)
has paid the applicable fees under Section 31A-3-103;
(ii)
the nonresident license applicant’s license in the applicant’s home state or designated home state is in good standing; and
(iii)
the nonresident license applicant’s home state or designated home state awards nonresident third party administrator licenses to residents of this state on the same basis as this state awards licenses to residents of that home state or designated home state.
(2)
A nonresident applicant shall execute in a form acceptable to the commissioner an agreement to be subject to the jurisdiction of the Utah commissioner and courts on any matter related to the applicant’s insurance activities in Utah, on the basis of:
other service authorized in the Utah Rules of Civil Procedure.
(3)
The commissioner may verify the third party administrator’s licensing status through the database maintained by:
(a)
the National Association of Insurance Commissioners; or
(b)
an affiliate or subsidiary of the National Association of Insurance Commissioners.
(4)
The commissioner may not assess a greater fee for an insurance license or related service to a person not residing in this state based solely on the fact that the person does not reside in this state.
