31A-5-601 - Duties of officers, directors, agents, and employees. - Utah Statutes

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31A-5-601. Duties of officers, directors, agents, and employees.
(1) Any officer, director, agent, attorney, or employee upon whom legal process isproperly served or who receives notice of any legal action that may affect or involve the propertyor business of the insurer, shall promptly communicate the service or notice and detailedinformation about it to facilitate informed response to persons in the insurer's organization whohave authority to take responsive action or to instigate responsive action by those in authority.
(2) A director of an insurer is assumed to have enough knowledge of its affairs todetermine whether any act, proceeding, or omission of its directors is a violation of any provisionof this chapter. If a director is present at a meeting of directors at which a violation of anyprovision of this chapter occurs, he is considered as concurring in the violation unless at themeeting he requires his dissent to be entered on the minutes. If a director is absent from themeeting, he is considered as concurring in any violation if the facts of violation appear on theminutes of the meeting and he remains a director for six months after the violation withoutrequiring that his dissent from the violation be entered upon the record or the minutes.

Enacted by Chapter 242, 1985 General Session

State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-05 > 31a-5-601

31A-5-601. Duties of officers, directors, agents, and employees.
(1) Any officer, director, agent, attorney, or employee upon whom legal process isproperly served or who receives notice of any legal action that may affect or involve the propertyor business of the insurer, shall promptly communicate the service or notice and detailedinformation about it to facilitate informed response to persons in the insurer's organization whohave authority to take responsive action or to instigate responsive action by those in authority.
(2) A director of an insurer is assumed to have enough knowledge of its affairs todetermine whether any act, proceeding, or omission of its directors is a violation of any provisionof this chapter. If a director is present at a meeting of directors at which a violation of anyprovision of this chapter occurs, he is considered as concurring in the violation unless at themeeting he requires his dissent to be entered on the minutes. If a director is absent from themeeting, he is considered as concurring in any violation if the facts of violation appear on theminutes of the meeting and he remains a director for six months after the violation withoutrequiring that his dissent from the violation be entered upon the record or the minutes.

Enacted by Chapter 242, 1985 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-05 > 31a-5-601

31A-5-601. Duties of officers, directors, agents, and employees.
(1) Any officer, director, agent, attorney, or employee upon whom legal process isproperly served or who receives notice of any legal action that may affect or involve the propertyor business of the insurer, shall promptly communicate the service or notice and detailedinformation about it to facilitate informed response to persons in the insurer's organization whohave authority to take responsive action or to instigate responsive action by those in authority.
(2) A director of an insurer is assumed to have enough knowledge of its affairs todetermine whether any act, proceeding, or omission of its directors is a violation of any provisionof this chapter. If a director is present at a meeting of directors at which a violation of anyprovision of this chapter occurs, he is considered as concurring in the violation unless at themeeting he requires his dissent to be entered on the minutes. If a director is absent from themeeting, he is considered as concurring in any violation if the facts of violation appear on theminutes of the meeting and he remains a director for six months after the violation withoutrequiring that his dissent from the violation be entered upon the record or the minutes.

Enacted by Chapter 242, 1985 General Session