Utah Admin. Code R590-102-5 - Admitted Insurer and Prescription Drug Plan Fees

Current through Bulletin No. 2021-18, September 15, 2021

(1) Annual license fees:
(a) certificate of authority initial license application, due with license application - $1,000;
(b) certificate of authority renewal, due by the due date on the invoice - $300;
(c) certificate of authority late renewal, due for any renewal paid after the date on the invoice - $350; and
(d) certificate of authority reinstatement, due with application for reinstatement - $1,000.
(2) Other license fees:
(a) certificate of authority amendments, due with request for amendment - $250;
(b)
(i) Form A application for merger, acquisition, or change of control, due with filing - $2,000; and
(ii) Expenses incurred for consultant services necessary to evaluate a Form A will be charged to the applicant and due by the due date on the invoice;
(c) redomestication filing, due with filing - $2,000; and
(d) application for organizational permit for mutual insurer to solicit applications for qualifying insurance policies or subscriptions for mutual bonds or contribution notes, due with application - $1,000.
(3) The annual license fee includes the following licensing services for which no additional fee is required:
(a) filing annual statement and report of Utah business, due annually on March 1;
(b) filing holding company registration statement, Form B;
(c) filing application for material transactions between affiliated companies, Form D; and
(d) applications for:
(i) stock solicitation permit;
(ii) public offering filing, but not an SEC filing;
(iii) an SEC filing;
(iv) private placement offering; and
(v) individual license to solicit in accordance with the stock solicitation permit.
(4) Annual service fee:
(a) Due by the due date on the invoice.
(b) A prescription drug plan is exempted from payment of a service fee.
(c) The fee is based on the Utah premium as shown in the company's prior year annual statement on file with the National Association of Insurance Commissioners and the department.
(d) Fee schedule:
(i) $0 premium volume - no service fee;
(ii) more than $0 but less than $1 million in premium volume - $700;
(iii) $1 million but less than $3 million in premium volume -$1,100;
(iv) $3 million but less than $6 million in premium volume -$1,550;
(v) $6 million but less than $11 million in premium volume -$2,100;
(vi) $11 million but less than $15 million in premium volume - $2,750;
(vii) $15 million but less than $20 million in premium volume - $3,500; and
(viii) $20 million or more in premium volume - $4,350.
(e) The annual service fee includes the following services for which no additional fee is required:
(i) filing of amendments to articles of incorporation, charter, or bylaws;
(ii) filing of power of attorney;
(iii) filing of registered agent;
(iv) affixing commissioner's seal and certifying any paper;
(v) filing of authorization to appoint and remove agents;
(vi) initial filing of producer or agency appointment with an insurer;
(vii) termination of producer or agency appointment with an insurer;
(viii) report filing;
(ix) rate filing; and
(x) form filing.
(5) Actual costs plus overhead expenses incurred during an examination of an insurer shall be paid by the examined insurer by the due date on the invoice.

Notes

Utah Admin. Code R590-102-5
Amended by Utah State Bulletin Number 2017-8, effective 3/24/2017 Amended by Utah State Bulletin Number 2018-5, effective 2/8/2018 Amended by Utah State Bulletin Number 2020-06, effective 3/10/2020 Amended by Utah State Bulletin Number 2020-16, effective 8/10/2020 Amended by Utah State Bulletin Number 2021-11, effective 5/24/2021

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