31A-28-111. Duties and powers under this part. The duties and powers described in this section are in addition to the duties and powers enumerated elsewhere in this part.
(1)
The commissioner shall:
Terms Used In Utah Code 31A-28-111
Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
Association: means the Utah Life and Health Insurance Guaranty Association continued under Section 31A-28-106. See Utah Code 31A-28-105
Impaired insurer: means a member insurer that is not an insolvent insurer and:
(a)
is considered by the commissioner to be hazardous pursuant to this title; or
(b)
is placed under an order of rehabilitation or conservation by a court of competent jurisdiction. See Utah Code 31A-28-105
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.
Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301
Member insurer: includes an insurer whose license or certificate of authority in this state may have been:
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)
upon request of the board of directors, provide the association with a statement of the premiums for each member insurer:
(i)
in this state; and
(ii)
any other appropriate state; and
(b)
if an impairment is declared and the amount of the impairment is determined, serve a demand upon the impaired insurer to make good the impairment within a reasonable time.
(2)
Notice to the impaired insurer under Subsection (1)(b) constitutes notice to the shareholders of the impaired insurer if the impaired insurer has shareholders.
(3)
The failure of the impaired insurer to promptly comply with the commissioner’s demand under Subsection (1)(b) does not excuse the association from the performance of its powers and duties under this part.
(4)
(a)
After notice and hearing, the commissioner may suspend or revoke the certificate of authority to transact business in this state of a member insurer not domiciled in this state that fails to:
(i)
pay an assessment when due; or
(ii)
comply with the plan of operation.
(b)
(i)
As an alternative to suspending or revoking a certificate of authority under Subsection (4)(a), the commissioner may levy a forfeiture on any member insurer that fails to pay an assessment when due.
may not exceed 5% of the unpaid assessment per month; and
(B)
may not be less than $100 per month.
(5)
(a)
A final action of the board of directors or the association may be appealed to the commissioner by any member insurer if appeal is taken within 60 days of the date the member insurer received notice of the final action being appealed.
(b)
If a member insurer is appealing an assessment, the amount assessed shall be:
(i)
paid to the association; and
(ii)
made available to meet association obligations during the pendency of an appeal.
(c)
If the appeal on the assessment described in Subsection (5)(b) is upheld, the amount paid in error or excess shall be returned to the member insurer.
(d)
Any final action or order of the commissioner is subject to judicial review in a court of competent jurisdiction in accordance with the laws of this state that apply to the actions or orders of the commissioner.
(6)
The receiver of an impaired insurer shall notify the interested persons of the effect of this part.
