§ 31A-28-210 — Duties and powers of the commissioner.

Utah § 31A-28-210

• Jurisdiction: Utah
• Title 31A: Insurance Code
• Ch. 31A-28: Guaranty Associations
• Part 31A-28-2: Property and Casualty Guaranty Association

Text

(1) In addition to the duties and powers enumerated elsewhere in this part, the commissioner shall:

(1)(a) notify the association of the existence of an insolvent insurer not later than three days after the commissioner receives notice of the order of liquidation; and
(1)(b) upon request of the board of directors, provide the association with a statement of the premiums in this state for each member insurer.
(2) (2)(a) The commissioner may suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer that fails:
(2)(a)(i) to pay an assessment when due; or
(2)(a)(ii) to comply with the plan of operation or the rules adopted under this part.
(2)(b) (2)(b)(i) As an alternative to an action described in Subsection (2)(a), the commissioner may levy a fine on any member insurer that fails to pay an assessment when due.
(2)(b)(ii) The fine permitted under this Subsection (2)(b) may not:

(2)(b)(ii)(A) exceed 5% of the unpaid assessment per month; or
(2)(b)(ii)(B) be less than $100 per month.
(2)(c) The commissioner may revoke the designation of any servicing facility if the commissioner finds claims are being handled unsatisfactorily.
(3) Any final action or order of the commissioner under this part is subject to judicial review in a court of competent jurisdiction.

Legislative History

Amended by Chapter 363, 2001 General Session