No. 41134 (5-year Review): Rule R590-70. Insurance Holding Companies

DAR File No.: 41134
Filed: 01/09/2017 11:27:54 AM

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 authorizes the department to write rules to implement the provisions of the Utah Insurance Code, Title 31A. The rule provides guidance regarding the registration of an insurance holding company, forms to be used, and filings to be made with the department as noted in Section 31A-16-105.

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 received no written comments regarding this rule during 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:

Rule R590-70 contains detailed instructions for the registration and filings of Utah domestic insurers in a holding company corporate structure. Without this rule, the statute itself is not adequate to prescribe uniformity, completeness, and accuracy in compliance with the same. Without the rule, there would be little or no guidance for insurers and no linkage to the department's policies, procedures, and forms. Therefore, this rule should be continued.

The full text of this rule may be inspected, during regular business hours, at the Office 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:

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

Effective:

01/09/2017

Authorized by:

Steve Gooch, Information Specialist

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