Utah Statutes
§ 31A-23a-809 — Penalties and liabilities.
Utah·Title 31A Insurance Code·Ch. 31A-23a Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries·Part 31A-23a-8 Reinsurance Intermediaries
(1)A reinsurance intermediary, insurer, or reinsurer found by the commissioner, after a hearing conducted in accordance with Title 63G, Chapter 4, Administrative Procedures Act, to be in violation of any provisions of this title, shall:
(1)(a) for each separate violation, pay a civil penalty in an amount not exceeding $5,000;
(1)(b) be subject to revocation or suspension of its license; and
(1)(c) if a violation was committed by the reinsurance intermediary, the reinsurance intermediary shall make restitution to the insurer, reinsurer, rehabilitator, or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer attributable to the violation.
(2)Nothing contained in this section affects the right of the commissioner to impose any other penalties provid
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Legislative History
Amended by Chapter 382, 2008 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.