Utah Admin. Code R590-245-4 - Licensing and Renewal

(1) A person involved in the sale, solicitation, or negotiation of self-service storage insurance must be licensed pursuant to Title 31A, Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries, and this rule.

(2) A self-service storage insurance license is issued for a two-year period and does not require examination or continuing education.

(3) A self-service storage insurance license must be renewed at the end of the two-year licensing period pursuant to Title 31A, Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries, and this rule.

(4) A self-service storage insurance license may be held by a self-service storage facility or a franchisee of a self-service storage facility.

(5) An individual licensed under this rule shall:

(a) be appointed by an insurance company underwriting the insurance policy the individual sells; or

(b) be designated to act by an agency licensed under this rule.

(6) An agency licensed under this rule shall:

(a) be appointed by an insurance company underwriting the insurance policies the agency sells; and

(b) designate a licensed individual to be responsible for the regulatory compliance of the agency .

(7)

(a) An agency licensed under this rule may employ non-licensed personnel as a self-service storage counter sales representative to sell, solicit, or negotiate self-service storage insurance.

(b) Any non-licensed employee shall:

(i) be trained and supervised in the sale of a self-service storage insurance product; and

(ii) be responsible to a licensed individual designated by the agency.

(8) A self-service storage facility, or a franchisee of a self-service storage facility, may not offer or sell self-service storage insurance unless it complies with the requirements of this rule and is licensed by the commissioner.

Notes

Utah Admin. Code R590-245-4

Amended by Utah State Bulletin Number 2022-13, effective 6/21/2022