31A-15-209 - Restrictions on purchasing groups. - Utah Statutes

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Statutes > Utah > Title-31a > Chapter-15 > 31a-15-209

31A-15-209. Restrictions on purchasing groups.
(1) A purchasing group which obtains liability insurance from an insurer not admitted inthis state or from a risk retention group shall inform each of the group members which have a riskresident or located in this state that the risk is not protected by an insurance insolvency guarantyfund in this state, and that the risk retention group or insurer may not be subject to all insurancelaws and regulations of this state.
(2) A purchasing group may not purchase insurance providing for a deductible orself-insured retention applicable to the group as a whole; however, coverage may provide for adeductible or self-insured retention applicable to individual members.
(3) Purchases of insurance by purchasing groups are subject to the same standardsregarding aggregate limits which are applicable to all purchases of group insurance.

Enacted by Chapter 258, 1992 General Session

State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-15 > 31a-15-209

31A-15-209. Restrictions on purchasing groups.
(1) A purchasing group which obtains liability insurance from an insurer not admitted inthis state or from a risk retention group shall inform each of the group members which have a riskresident or located in this state that the risk is not protected by an insurance insolvency guarantyfund in this state, and that the risk retention group or insurer may not be subject to all insurancelaws and regulations of this state.
(2) A purchasing group may not purchase insurance providing for a deductible orself-insured retention applicable to the group as a whole; however, coverage may provide for adeductible or self-insured retention applicable to individual members.
(3) Purchases of insurance by purchasing groups are subject to the same standardsregarding aggregate limits which are applicable to all purchases of group insurance.

Enacted by Chapter 258, 1992 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-15 > 31a-15-209

31A-15-209. Restrictions on purchasing groups.
(1) A purchasing group which obtains liability insurance from an insurer not admitted inthis state or from a risk retention group shall inform each of the group members which have a riskresident or located in this state that the risk is not protected by an insurance insolvency guarantyfund in this state, and that the risk retention group or insurer may not be subject to all insurancelaws and regulations of this state.
(2) A purchasing group may not purchase insurance providing for a deductible orself-insured retention applicable to the group as a whole; however, coverage may provide for adeductible or self-insured retention applicable to individual members.
(3) Purchases of insurance by purchasing groups are subject to the same standardsregarding aggregate limits which are applicable to all purchases of group insurance.

Enacted by Chapter 258, 1992 General Session