31A-5-701 - General reporting requirement. - Utah Statutes

31A-5-701. General reporting requirement.
(1) An insurer domiciled in this state shall file a report with the commissioner disclosingany transaction listed in Subsection (2), unless the transaction has been submitted to thecommissioner for review, approval, or information purposes pursuant to other provisions of thistitle or rules or other requirements made pursuant to this title.
(2) A report is required under Subsection (1) to disclose:
(a) material acquisitions and dispositions of assets; or
(b) material nonrenewals, cancellations, or revisions of ceded reinsurance agreements.
(3) The report required in Subsection (1) is due within 15 days after the end of thecalendar month in which any of the transactions described in Subsection (2) occurs.
(4) (a) Except as provided in Subsection (4)(b), reports obtained by or disclosed to thecommissioner pursuant to this part are confidential and are not subject to subpoena and may notbe made public by the commissioner or any other person or organization, without the prior writtenconsent of the insurer to which it pertains.
(b) (i) The commissioner may publish all or any part of a report in the manner thecommissioner considers appropriate if the commissioner determines that the interest ofpolicyholders, shareholders, or the public will be served by publication, after giving notice and anopportunity to be heard to the insurer who would be affected.
(ii) All or any part of a report may be disclosed without notice or consent to insurancedepartments of other states.

Enacted by Chapter 9, 1996 Special Session 2