Utah § 31A-23a-605 Penalties and liabilities.

Utah Statutes

§ 31A-23a-605 — Penalties and liabilities.

Utah § 31A-23a-605

Title 31AInsurance Code

Ch. 31A-23aInsurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries

Part 31A-23a-6Managing General Agents

This text of Utah § 31A-23a-605 (Penalties and liabilities.) 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-23a-605 (2026).

Text

(1)If the commissioner finds after a hearing that any person has violated any provision of this part, the commissioner may order:

(1)(a) for each separate violation, a penalty in an amount of $5,000;

(1)(b) revocation or suspension of the producer's license; and

(1)(c) the managing general agent to reimburse the insurer, the rehabilitator, or liquidator of the insurer for any losses incurred by the insurer caused by the managing general agent's violation.

(2)Nothing contained in this section affects the right of the commissioner to impose any other penalties provided for in this title.

(3)Nothing contained in this part is intended to, or in any manner limits or restricts the rights of policyholders, claimants, and auditors.

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(1) If the commissioner finds after a hearing that any person has violated any provision of this part, the commissioner may order:

(1)(a) for each separate violation, a penalty in an amount of $5,000;
(1)(b) revocation or suspension of the producer's license; and
(1)(c) the managing general agent to reimburse the insurer, the rehabilitator, or liquidator of the insurer for any losses incurred by the insurer caused by the managing general agent's violation.
(2) Nothing contained in this section affects the right of the commissioner to impose any other penalties provided for in this title.
(3) Nothing contained in this part is intended to, or in any manner limits or restricts the rights of policyholders, claimants, and auditors.