Utah Administrative Code (Current through November 1, 2019) |
R590. Insurance, Administration |
R590-108. Interest Rate During Grace Period or Upon Reinstatement of Policy |
R590-108-1. Authority
Latest version.
-
This rule is promulgated by the Commissioner of Insurance under Sections 31A-2-201(3) to adopt rules to implement the provisions of the Utah Insurance Code, and specifically Sections 31A-22-402 and 31A-22-407(1) authorizing the commissioner to establish by rule the rate of interest an insurer may charge in a life insurance or annuity contract upon premiums due or overdue during a grace period or upon subsequent reinstatement of the contract.