Utah § 31A-5-601 Duties of officers, directors, agents, and employees.

Utah Statutes

§ 31A-5-601 — Duties of officers, directors, agents, and employees.

Utah·Title 31A Insurance Code·Ch. 31A-5 Domestic Stock and Mutual Insurance Corporations·Part 31A-5-6 Miscellaneous Provisions

(1)Any officer, director, agent, attorney, or employee upon whom legal process is properly served or who receives notice of any legal action that may affect or involve the property or business of the insurer, shall promptly communicate the service or notice and detailed information about it to facilitate informed response to persons in the insurer's organization who have authority to take responsive action or to instigate responsive action by those in authority.

(2)A director of an insurer is assumed to have enough knowledge of its affairs to determine whether any act, proceeding, or omission of its directors is a violation of any provision of this chapter. If a director is present at a meeting of directors at which a violation of any provision of this chapter occurs, the director is co

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(1) Any officer, director, agent, attorney, or employee upon whom legal process is properly served or who receives notice of any legal action that may affect or involve the property or business of the insurer, shall promptly communicate the service or notice and detailed information about it to facilitate informed response to persons in the insurer's organization who have authority to take responsive action or to instigate responsive action by those in authority.
(2) A director of an insurer is assumed to have enough knowledge of its affairs to determine whether any act, proceeding, or omission of its directors is a violation of any provision of this chapter. If a director is present at a meeting of directors at which a violation of any provision of this chapter occurs, the director is considered as concurring in the violation unless at the meeting the director requires the director's dissent to be entered on the minutes. If a director is absent from the meeting, the director is considered as concurring in any violation if the facts of violation appear on the minutes of the meeting and the director remains a director for six months after the violation without requiring that the director's dissent from the violation be entered upon the record or the minutes.

Utah § 31A-5-601 (Duties of officers, directors, agents, and employees.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.