Utah Admin. Code R590-70-16 - Alternative and Consolidated Registrations

(1)

(a) Any authorized insurer may file a registration statement on behalf of any affiliated insurer that is required to register under Section 31A-16-105.

(b) A registration statement may include information not required by the Act and Title 31A, Chapter 16, Insurance Holding Companies, regarding any insurer in the insurance holding company system even if the insurer is not authorized to do business in this state.

(c) In lieu of filing a registration statement on Form B, an authorized insurer may file a copy of the required registration statement or similar report i n the insurer's state of domicile, provided that:

(i) the statement or report contains substantially similar information required to be furnished on Form B; and

(ii) the filing insurer is the principal insurance company in the insurance holding company system.

(2) An insurer filing a registration statement or report in lieu of Form B on behalf of an affiliated insurer shall set forth a brief statement of facts that substantiate the filing insurer's claim that it, in fact, is the principal insurer in the insurance holding company system.

(3) With the prior approval of the commissioner, an unauthorized insurer may follow any procedure that an authorized insurer may follow under Subsection (1).

(4) Any insurer may use the procedures in Subsections 31A-16-105(8) or 31A-16-105(9) without the commissioner's prior approval .

(5) The commissioner may require individual filings if the commissioner determines that the filings are necessary for clarity, ease of administration, or the public good.

Notes

Utah Admin. Code R590-70-16

Adopted by Utah State Bulletin Number 2017-3, effective 1/10/2017 Amended by Utah State Bulletin Number 2021-21, effective 10/25/2021