31A-19a-305 - Anti-competitive agreements prohibited. - Utah Statutes

31A-19a-305. Anti-competitive agreements prohibited.
(1) (a) An insurer may not assume any obligation to any person other than a policyholderor other company under common control, to use or adhere to certain rates or rating procedures.
(b) Except for a policyholder or other company under common control, a person may notimpose any penalty or other adverse consequence for failure of an insurer to adhere to certainrates or rating procedures.
(2) This section does not apply to rates used:
(a) by a joint underwriting group;
(b) by a pool;
(c) under quota share reinsurance treaties; or
(d) by a residual market mechanism.

Renumbered and Amended by Chapter 130, 1999 General Session