31A-26-205.  Character requirements.
     Each applicant for a license under this chapter shall show to the commissioner that:

(1)  the applicant has the good faith intent to engage in the type of business the license or licenses applied for would permit;

Terms Used In Utah Code 31A-26-205

  • License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
  • Organization: includes a sole proprietorship by which a natural person does business under an assumed name. See Utah Code 31A-26-102
  • 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
(2) 

(a)  if a natural person, the applicant is:

(i)  competent; and

(ii)  trustworthy; or

(b)  if an organization, all the partners, directors, principal officers, or persons in fact having comparable powers are trustworthy, and that the applicant will transact business in such a way that all acts that may only be performed by a licensed adjuster are performed exclusively by natural persons who are licensed under this chapter to transact that business and listed on the organization’s license under Section 31A-26-209; and

(3)  if a natural person, the applicant is at least 18 years of age.

Amended by Chapter 319, 2018 General Session

  Previous section
Next section  
 Part 2 Contents