31A-14-215 - Assessment by foreign company. - Utah Statutes

31A-14-215. Assessment by foreign company.
Every foreign mutual insurer authorized in this state shall notify the commissionerimmediately after making an assessment upon any of its members in this state. The insurer shallattach to the notice a statement of the condition of the insurer, giving the facts showing thenecessity for the assessment. Unless the commissioner orders otherwise under a Chapter 27, Part5, Administrative Actions, proceeding, a foreign mutual insurer authorized in this state may notmake or increase any assessment because of its inability to collect assessments from its membersin other states.

Amended by Chapter 309, 2007 General Session