31A-23a-502 - Controlled business, except as to title insurance. - Utah Statutes

31A-23a-502. Controlled business, except as to title insurance.
(1) As used in this section, "controlled business" means insurance procured by:
(a) an insurance producer who is a natural person upon the life, person, or property ofhimself, his relative within the second degree by blood or marriage, his employer, employees, ororganization; or
(b) an insurance producer that is an organization upon its own property or upon the life,person, or property of its partners, shareholders, directors, or employees, or their relatives withinthe second degree by blood or marriage.
(2) No producer may receive any compensation from an insurer for effecting insuranceupon controlled business unless during the preceding 12 months the producer had effected otherinsurance with aggregate premiums exceeding the premiums on the controlled business.
(3) This section does not apply to title insurance.

Renumbered and Amended by Chapter 298, 2003 General Session