Utah Statutes
§ 31A-23a-601 — Licensure.
Utah·Title 31A Insurance Code·Ch. 31A-23a Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries·Part 31A-23a-6 Managing General Agents
(1)A person, firm, association, or corporation may not act in the capacity of managing general agent with respect to risks located in this state for an insurer licensed in this state unless the person is a licensed producer in this state.
(2)A person, firm, association, or corporation may not act in the capacity of a managing general agent representing an insurer domiciled in this state with respect to risks located outside this state unless the person is licensed as a producer in this state pursuant to this chapter. The license may be a nonresident license.
(3)The commissioner may require a bond in an amount he finds acceptable for the protection of each insurer represented.
(4)The commissioner may require the managing general agent to maintain an errors and omissions policy or other
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Legislative History
Renumbered and Amended by Chapter 298, 2003 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.