31A-26-214.5.  License lapse and voluntary surrender.

(1) 

Terms Used In Utah Code 31A-26-214.5

  • Application: means a document:
(a) 
(i) completed by an applicant to provide information about the risk to be insured; and
(ii) that contains information that is used by the insurer to evaluate risk and decide whether to:
(A) insure the risk under:
(I) the coverage as originally offered; or
(II) a modification of the coverage as originally offered; or
(B) decline to insure the risk; or
(b) used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301
  • Disability: means a physiological or psychological condition that partially or totally limits an individual's ability to:
    (a) perform the duties of:
    (i) that individual's occupation; or
    (ii) an occupation for which the individual is reasonably suited by education, training, or experience; or
    (b) perform two or more of the following basic activities of daily living:
    (i) eating;
    (ii) toileting;
    (iii) transferring;
    (iv) bathing; or
    (v) dressing. See Utah Code 31A-1-301
  • Home state: means :
    (a) a state or territory of the United States or the District of Columbia in which an insurance adjuster:
    (i) maintains the adjuster's principal:
    (A) place of residence; or
    (B) place of business; and
    (ii) is licensed to act as a resident adjuster; or
    (b) if the resident state, territory, or the District of Columbia described in Subsection (3)(a) does not license adjusters for the line of authority sought, a state, territory, or the District of Columbia:
    (i) in which the adjuster is licensed;
    (ii) in which the adjuster is in good standing; and
    (iii) that the adjuster has designated as the adjuster's designated home state. See Utah Code 31A-26-102
  • 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
  • (a)  A license issued under this chapter shall lapse if the licensee fails to:

    (i)  pay when due a fee under Section 31A-3-103;

    (ii)  complete continuing education requirements under Section 31A-26-206 before submitting the license renewal application;

    (iii)  submit a completed renewal application as required by Section 31A-26-202;

    (iv)  submit additional documentation required to complete the licensing process as related to a specific license type or license classification; or

    (v)  maintain an active license in the licensee’s home state if the licensee is a nonresident licensee.

    (b) 

    (i)  A licensee whose license lapses due to the following may request an action described in Subsection (1)(b)(ii):

    (A)  military service;

    (B)  voluntary service for a period of time designated by the person for whom the licensee provides voluntary service; or

    (C)  some other extenuating circumstances, such as long-term medical disability.

    (ii)  A licensee described in Subsection (1)(b)(i) may request:

    (A)  reinstatement of the license no later than one year after the day on which the license lapses; and

    (B)  waiver of any of the following imposed for failure to comply with renewal procedures:

    (I)  an examination requirement;

    (II)  reinstatement fees set under Section 31A-3-103;

    (III)  continuing education requirements; or

    (IV)  other sanction imposed for failure to comply with renewal procedures.
  • (2)  If a license issued under this chapter is voluntarily surrendered, the license may be reinstated:

    (a)  during the license period in which it is voluntarily surrendered; and

    (b)  no later than one year after the day on which the license is voluntarily surrendered.

    Amended by Chapter 290, 2014 General Session
    Amended by Chapter 300, 2014 General Session