31A-11-107 - Issuance of certificate of authority -- Reinsurance of excess services. - Utah Statutes

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Statutes > Utah > Title-31a > Chapter-11 > 31a-11-107

31A-11-107. Issuance of certificate of authority -- Reinsurance of excess services.
(1) The commissioner shall issue a certificate applied for under Section 31A-11-106 if hefinds that:
(a) the corporation is able to negotiate, execute, and carry out the motor club business ina sound, reliable, and ongoing manner;
(b) the reinsurance requirements of Subsection (2) are satisfied; and
(c) all other applicable requirements of law are satisfied.
(2) If a motor club provides legal expense service other than that authorized inSubsection 31A-11-102(1)(b), or other trip reimbursement service than that authorized inSubsection 31A-11-102(1)(d), or bail service other than that authorized under Section31A-11-112, it must fully reinsure the excess service with an insurer authorized under Chapter 5or 14. That insurer must assume direct liability to the insured, and must fully comply withChapter 23a, Insurance Marketing - Licensing Producers, Consultants, and ReinsuranceIntermediaries.

Amended by Chapter 298, 2003 General Session

State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-11 > 31a-11-107

31A-11-107. Issuance of certificate of authority -- Reinsurance of excess services.
(1) The commissioner shall issue a certificate applied for under Section 31A-11-106 if hefinds that:
(a) the corporation is able to negotiate, execute, and carry out the motor club business ina sound, reliable, and ongoing manner;
(b) the reinsurance requirements of Subsection (2) are satisfied; and
(c) all other applicable requirements of law are satisfied.
(2) If a motor club provides legal expense service other than that authorized inSubsection 31A-11-102(1)(b), or other trip reimbursement service than that authorized inSubsection 31A-11-102(1)(d), or bail service other than that authorized under Section31A-11-112, it must fully reinsure the excess service with an insurer authorized under Chapter 5or 14. That insurer must assume direct liability to the insured, and must fully comply withChapter 23a, Insurance Marketing - Licensing Producers, Consultants, and ReinsuranceIntermediaries.

Amended by Chapter 298, 2003 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-11 > 31a-11-107

31A-11-107. Issuance of certificate of authority -- Reinsurance of excess services.
(1) The commissioner shall issue a certificate applied for under Section 31A-11-106 if hefinds that:
(a) the corporation is able to negotiate, execute, and carry out the motor club business ina sound, reliable, and ongoing manner;
(b) the reinsurance requirements of Subsection (2) are satisfied; and
(c) all other applicable requirements of law are satisfied.
(2) If a motor club provides legal expense service other than that authorized inSubsection 31A-11-102(1)(b), or other trip reimbursement service than that authorized inSubsection 31A-11-102(1)(d), or bail service other than that authorized under Section31A-11-112, it must fully reinsure the excess service with an insurer authorized under Chapter 5or 14. That insurer must assume direct liability to the insured, and must fully comply withChapter 23a, Insurance Marketing - Licensing Producers, Consultants, and ReinsuranceIntermediaries.

Amended by Chapter 298, 2003 General Session