Utah Statutes
§ 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 the commissioner finds that:
(1)(a) the corporation is able to negotiate, execute, and carry out the motor club business in a sound, reliable, and ongoing manner;
(1)(b) the reinsurance requirements of Subsection (2) are satisfied; and
(1)(c) all other applicable requirements of law are satisfied.
(2)If a motor club provides legal expense service other than that authorized in Subsection 31A-11-102(1)(b), or other trip reimbursement service than that authorized in Subsection 31A-11-102(1)(d), or bail service other than that authorized under Section 31A-11-112, it shall fully reinsure the excess service with an insurer authorized under Chapter 5, Domestic Stock and Mutual Insurance Corporations, or Chapt
Free access — add to your briefcase to read the full text and ask questions with AI
Utah § 31A-11-107 (Issuance of certificate of authority -- Reinsurance of excess services.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Chapter 297, 2011 General Session
Nearby Sections
15
§ 31A-1-101
Short title.§ 31A-1-102
Purposes.§ 31A-1-103
Scope and applicability of title.§ 31A-1-104
Authorization to do insurance business.§ 31A-1-105
Presumption of jurisdiction.§ 31A-1-106
Residual unlicensed domestic insurers.§ 31A-1-107
Licensees under former Title 31.§ 31A-1-108
Corporations in the process of organizing.§ 31A-1-109
Name of licensee.§ 31A-1-110
Scope of a license.§ 31A-1-201
Construction.§ 31A-1-202
Effect of repeal of former provisions.§ 31A-1-203
Interpretive rules.§ 31A-1-205
Severability.§ 31A-1-301
Definitions.