Utah § 31A-16b-108 Penalties.

Utah Statutes

§ 31A-16b-108 — Penalties.

Utah § 31A-16b-108

Title 31AInsurance Code

Ch. 31A-16bCorporate Governance Annual Disclosure Act

This text of Utah § 31A-16b-108 (Penalties.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 31A-16b-108 (2026).

Text

(1)An insurer or insurance group that, without just cause, fails to timely file a corporate governance annual disclosure as required in this chapter shall, after notice and hearing, pay a penalty of $10,000 for each day's delay, up to $300,000.

(2)Any penalty recovered by the commissioner under this section shall be deposited into the General Fund.

(3)The commissioner may reduce a penalty under this section if the insurer or insurance group demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.

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(1) An insurer or insurance group that, without just cause, fails to timely file a corporate governance annual disclosure as required in this chapter shall, after notice and hearing, pay a penalty of $10,000 for each day's delay, up to $300,000.
(2) Any penalty recovered by the commissioner under this section shall be deposited into the General Fund.
(3) The commissioner may reduce a penalty under this section if the insurer or insurance group demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.