(1)  For purposes of this section, “services” means functions that are reasonable and necessary to enable the commissioner to perform the duties imposed by this title including:

Terms Used In Utah Code 31A-3-103

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Certificate: means evidence of insurance given to:
(a) an insured under a group insurance policy; or
(b) a third party. See Utah Code 31A-1-301
  • Department: means the Insurance Department. See Utah Code 31A-1-301
  • Director: means a member of the board of directors of a corporation. See Utah Code 31A-1-301
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Form: means one of the following prepared for general use:
    (i) a policy;
    (ii) a certificate;
    (iii) an application;
    (iv) an outline of coverage; or
    (v) an endorsement. See Utah Code 31A-1-301
  • Insurance: includes :
    (i) 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
  • License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
  • Policy: includes a service contract issued by:
    (i) a motor club under Chapter 11, Motor Clubs;
    (ii) a service contract provided under Chapter 6a, Service Contracts; and
    (iii) a corporation licensed under:
    (A) Chapter 7, Nonprofit Health Service Insurance Corporations; or
    (B) Chapter 8, Health Maintenance Organizations and Limited Health Plans. See Utah Code 31A-1-301
  • producer: means a person licensed or required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Utah Code 31A-1-301
  • Received by the department: means :
    (a) the date delivered to and stamped received by the department, if delivered in person;
    (b) the post mark date, if delivered by mail;
    (c) the delivery service's post mark or pickup date, if delivered by a delivery service;
    (d) the received date recorded on an item delivered, if delivered by:
    (i) facsimile;
    (ii) email; or
    (iii) another electronic method; or
    (e) a date specified in:
    (i) a statute;
    (ii) a rule; or
    (iii) an order. See Utah Code 31A-1-301
  • Statute: A law passed by a legislature.
  • (a)  issuing or renewing a license or certificate of authority;

    (b)  filing a policy form;

    (c)  reporting a producer appointment or termination; and

    (d)  filing an annual statement.

    (2)  Except as otherwise provided by this title:

    (a)  the commissioner may set and collect a fee for services provided by the commissioner;

    (b)  a fee related to the renewal of a license may be imposed no more frequently than once each year; and

    (c)  a fee charged by the commissioner shall be set in accordance with Section 63J-1-504.

    (3) 

    (a)  The commissioner shall publish a schedule of fees established pursuant to this section.

    (b)  The commissioner shall, by rule, establish the deadlines for payment of a fee established pursuant to this section.

    (4) 

    (a)  Beginning July 1, 2011, there is created in the General Fund a restricted account known as the “Insurance Department Restricted Account.”

    (b)  Except as provided in Subsection (4)(c), the Insurance Department Restricted Account shall consist of:

    (i)  fees authorized by this section; and

    (ii)  other money received by the department, including:

    (A)  reimbursements for examination costs incurred by the department; and

    (B)  forfeitures collected under this title.

    (c)  The department shall deposit money it receives that is subject to a restricted account or enterprise fund created by this title into the restricted account or enterprise fund in accordance with the statute creating the restricted account or enterprise fund, and the department may not deposit the money into the Insurance Department Restricted Account.

    (d)  Subject to appropriation by the Legislature, the department may expend money in the Insurance Department Restricted Account to fund the operations of the department.

    (e)  At the end of each fiscal year, the director of the Division of Finance shall transfer into the General Fund any money deposited into the Insurance Department Restricted Account under Subsection (4)(b) that exceeds the legislative appropriations from the Insurance Department Restricted Account for that year.

    Amended by Chapter 284, 2011 General Session