No. 28726: R590-208. Uniform Application for Certificates of Authority

DAR File No.: 28726
Filed: 05/12/2006, 09:33
Received by: NL

 

NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:

Section 31A-2-201 gives the commissioner the authority to write rules to implement Title 31A of the Utah Code. Subsection 31A-2-202(2) authorizes the commissioner to require financial reporting on forms provided by the National Association of Insurance Commissioners. This rule requires insurance companies applying for a license to sell insurance in Utah do so on uniform forms provided by the National Association of Insurance Commissioners (NAIC).

 

Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:

The department has not received written comments regarding this rule in the past five years.

 

Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

This rule is important because it ensures the licensing process in Utah is consistent with other states. Consistency is important to enhance interstate commerce and to help ensure the federal government does not assume regulatory responsibility over insurers in Utah. Without this rule there would be no guidance on which forms should be used for licensure in Utah. The rule designates the Uniform Certificate of Authority Application (UCAA) produced by the NAIC in Cooperation with other states as the proper forms for licensure in Utah.

 

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Insurance
Administration
Room 3110 STATE OFFICE BLDG
450 N MAIN ST
SALT LAKE CITY UT 84114-1201

 

Direct questions regarding this rule to:

Jilene Whitby at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at [e-mail]

 

Authorized by:

Jilene Whitby, Information Specialist