31A-5-103 - Orders imposing and relaxing restrictions. - Utah Statutes

31A-5-103. Orders imposing and relaxing restrictions.
(1) The commissioner may by order subject an individual corporation not otherwisesubject to some or all of the restrictions of Subsections 31A-5-304(4), 31A-5-305(1)(a),31A-5-305(2)(a)(i) and (ii), and 31A-5-410(1)(b) if he finds after a hearing that the individualcorporation's financial condition, management, and other circumstances require additionalregulation for the protection of the interests of insureds or the public. The commissioner shalldetail in writing the grounds for his order.
(2) The commissioner may by order free a new corporation from any or all of therestrictions generally applicable to new corporations under the provisions listed in Subsection (1),if he is satisfied that the corporation's financial condition, management, and other circumstancesgive assurance that the interests of insureds and the public will not be endangered by doing so.

Amended by Chapter 1, 2000 General Session