31A-19a-208 - Special restrictions on individual insurers. - Utah Statutes

31A-19a-208. Special restrictions on individual insurers.
(1) The commissioner may require by order that a particular insurer file any or all of itsrates and supplementary rate information 30 calendar days prior to their effective date, if thecommissioner finds, after a hearing, that to protect the interests of the insurer's insureds and thepublic in Utah, the commissioner must exercise closer supervision of the insurer's rates, becauseof the insurer's financial condition or rating practices.
(2) The commissioner may extend the waiting period described in Subsection (1) for anyfiling for not to exceed 30 additional calendar days, by written notice to the insurer before the first30-day period expires.
(3) A filing that has not been disapproved before the expiration of the waiting period isconsidered to meet the requirements of this chapter, subject to the possibility of subsequentdisapproval under Section 31A-19a-206.

Renumbered and Amended by Chapter 130, 1999 General Session