reglab/housing_qa huggingface dataset:
UT Code § 31A-17-609 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 17 - Determination of Financial Condition|Part 6 - Risk-Based Capital|Section 609 - Alternate adjusted capital.

31A-17-609. Alternate adjusted capital.    (1) Except as provided in Section 31A-17-602, an insurer or health organization licensed under Chapter 5, Domestic Stock and Mutual Insurance Corporations, Chapter 7, Nonprofit Health Service Insurance Corporations, Chapter 8, Health Maintenance Organizations and Limited Health Plans, Chapter 9, Insurance Fraternals, and Chapter 14, Foreign Insurers, shall maintain total adjusted capital as defined in Section 31A-1-301 in an amount equal to the greater of:   (a) 175% of the minimum required capital, or of the minimum permanent surplus in the case of nonassessable mutuals, required by Section 31A-5-211, 31A-7-201, 31A-8-209, 31A-9-209, or 31A-14-205; or     (b) the net total of:   (i) 10% of net insurance premiums earned during the year; plus     (ii) 5% of the admitted value of common stocks and real estate; plus     (iii) 2% of the admitted value of all other invested assets, exclusive of cash deposits, short-term investments, policy loans, and premium notes; less     (iv) the amount of any asset valuation reserve being maintained by the insurer or health organization, but not to exceed the sum of Subsections (1)(b)(ii) and (iii).         (2) As used in Subsection (1)(b), "premiums earned" means premiums and other consideration earned for insurance in the 12-month period ending on the date the calculation is made.     (3) The commissioner may consider an insurer or health organization to be financially hazardous under Subsection 31A-27a-207(1)(i), if the insurer or health organization does not have qualified assets in an aggregate value exceeding the sum of the insurer's or health organization's liabilities and the total adjusted capital required by Subsection (1).     (4) The commissioner shall consider an insurer or health organization to be financially hazardous under Subsection 31A-27a-207(1)(i) if the insurer or health organization does not have qualified assets in an aggregate value exceeding the sum of the insurer's or health organization's liabilities and 70% of the total adjusted capital required by Subsection (1).    Amended by Chapter 309, 2007 General Session
UT Code § 31A-17-610 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 17 - Determination of Financial Condition|Part 6 - Risk-Based Capital|Section 610 - Foreign insurers or health organizations.

31A-17-610. Foreign insurers or health organizations.    (1)   (a) Any foreign insurer or health organization shall, upon the written request of the commissioner, submit to the commissioner an RBC report as of the end of the most recent calendar year by the later of:   (i) the date an RBC report would be required to be filed by a domestic insurer or health organization under this part; or     (ii) 15 days after the request is received by the foreign insurer or health organization.       (b) Any foreign insurer or health organization shall, at the written request of the commissioner, promptly submit to the commissioner a copy of any RBC plan that is filed with the insurance commissioner of any other state.       (2)   (a) The commissioner may require a foreign insurer or health organization to file an RBC plan with the commissioner if:   (i) there is a company action level event, regulatory action level event, or authorized control level event with respect to the foreign insurer or health organization as determined under:   (A) the RBC statute applicable in the state of domicile of the insurer or health organization; or     (B) if no RBC statute is in force in that state, under this part; and       (ii) the insurance commissioner of the state of domicile of the foreign insurer or health organization fails to require the foreign insurer or health organization to file an RBC plan in the manner specified under:   (A) that state's RBC statute; or     (B) if no RBC statute is in force in that state, under Section 31A-17-603.         (b) If the commissioner requires a foreign insurer or health organization to file an RBC plan, the failure of the foreign insurer or health organization to file the RBC plan with the commissioner is grounds to order the insurer or health organization to cease and desist from writing new insurance business in this state.       (3) The commissioner may make application to the Third District Court for Salt Lake County permitted under Section 31A-27a-901 with respect to the liquidation of property of a foreign insurer or health organization found in this state if:   (a) a mandatory control level event occurs with respect to any foreign insurer or health organization; and     (b) no domiciliary receiver has been appointed with respect to the foreign insurer or health organization under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign insurer or health organization.      Amended by Chapter 309, 2007 General Session
UT Code § 31A-17-611 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 17 - Determination of Financial Condition|Part 6 - Risk-Based Capital|Section 611 - Immunity.

31A-17-611. Immunity.  There may be no liability on the part of, and no cause of action may arise against, the commissioner or the insurance department or its employees or agents for any action taken by them in the performance of their powers and duties under this part.  Enacted by Chapter 9, 1996 Special Session 2Enacted by Chapter 9, 1996 Special Session 2
UT Code § 31A-17-612 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 17 - Determination of Financial Condition|Part 6 - Risk-Based Capital|Section 612 - Severability clause.

31A-17-612. Severability clause.  If any provision of this part, or the application of the part to any person or circumstance, is held invalid, the determination may not affect the provisions or applications of this part that can be given effect without the invalid provision or application, and to that end the provisions of this part are severable.  Enacted by Chapter 9, 1996 Special Session 2Enacted by Chapter 9, 1996 Special Session 2
UT Code § 31A-17-613 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 17 - Determination of Financial Condition|Part 6 - Risk-Based Capital|Section 613 - Effective date of notice.

31A-17-613. Effective date of notice.  A notice by the commissioner to an insurer or health organization that may result in regulatory action under this chapter is effective the sooner of:  (1) the date the insurer or health organization receives the notice; or     (2) three days after mailing the notice.    Amended by Chapter 116, 2001 General Session
UT Code § 31A-19a-101 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 19a - Utah Rate Regulation Act|Part 1 - General Provisions|Section 101 - Title -- Scope and purposes.

31A-19a-101. Title -- Scope and purposes.    (1) This chapter is known as the "Utah Rate Regulation Act."     (2)   (a)   (i) Except as provided in Subsection (2)(a)(ii), this chapter applies to all kinds and lines of direct insurance written on risks or operations in this state by an insurer authorized to do business in this state.     (ii) This chapter does not apply to:   (A) life insurance;     (B) credit life insurance;     (C) variable and fixed annuities;     (D) health and accident and health insurance;     (E) credit accident and health insurance; and     (F) reinsurance.         (b) This chapter applies to all insurers authorized to do any line of business, except those specified in Subsection (2)(a)(ii).       (3) It is the purpose of this chapter to:   (a) protect policyholders and the public against the adverse effects of excessive, inadequate, or unfairly discriminatory rates;     (b) encourage independent action by and reasonable price competition among insurers so that rates are responsive to competitive market conditions;     (c) provide formal regulatory controls for use if independent action and price competition fail;     (d) provide regulatory procedures for the maintenance of appropriate data reporting systems;     (e) authorize cooperative action among insurers in the rate-making process, and regulate that cooperation to prevent practices that bring about a monopoly or lessen or destroy competition;     (f) encourage the most efficient and economic marketing practices; and     (g) regulate the business of insurance in a manner that, under the McCarran-Ferguson Act, 15 U.S.C. Secs. 1011 through 1015, will preclude application of federal antitrust laws.       (4) Rate filings made prior to July 1, 1986, under former Title 31, Chapter 18, are continued. Rate filings made after July 1, 1986, are subject to the requirements of this chapter.    Amended by Chapter 308, 2002 General Session
UT Code § 31A-19a-103 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 19a - Utah Rate Regulation Act|Part 1 - General Provisions|Section 103 - Exemptions.

31A-19a-103. Exemptions.    (1) The commissioner may by rule exempt from any or all of the provisions of this chapter:   (a) any person;     (b) a class of persons; or     (c) a market segment.       (2) The exemption described in Subsection (1) shall be given only if and to the extent that the commissioner finds the application of the provisions of this chapter to that person or group is unnecessary to achieve the purposes of this chapter.    Renumbered and Amended by Chapter 130, 1999 General Session
UT Code § 31A-19a-201 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 19a - Utah Rate Regulation Act|Part 2 - General Rate Regulation|Section 201 - Rate standards.

31A-19a-201. Rate standards.    (1) Rates may not be excessive, inadequate, or unfairly discriminatory.     (2)   (a) Rates are not excessive if a reasonable degree of price competition exists at the consumer level with respect to the class of business to which they apply. In determining whether a reasonable degree of price competition exists, the commissioner shall consider:   (i) relevant tests of workable competition pertaining to:   (A) market structure;     (B) market performance; and     (C) market conduct; and       (ii) the practical opportunities available to consumers in the market to:   (A) acquire pricing and other consumer information; and     (B) compare and obtain insurance from competing insurers.         (b) The tests described in Subsection (2)(a) include:   (i) the size and number of insurers actively engaged in the market and class of business;     (ii) the market shares of insurers actively engaged in the market and changes in market shares;     (iii) the existence of rate differentials in that class of business;     (iv) ease of entry and latent competition of insurers capable of easy entry;     (v) availability of consumer information concerning the product and sales outlets or other sales mechanisms; and     (vi) efforts of insurers to provide consumer information.       (c) If reasonable price competition does not exist, rates are excessive if:   (i) rates are likely to produce a long-term profit that is unreasonably high in relation to the riskiness of the class of business; or     (ii) expenses are unreasonably high in relation to the services rendered.         (3) Rates are inadequate if:   (a) they are clearly insufficient, when combined with the investment income attributable to them, to sustain the projected losses and expenses in the class of business to which they apply; and     (b) the use of such rates has or, if continued, will have:   (i) the effect of substantially lessening competition; or     (ii) the tendency to create a monopoly in any market.         (4)   (a) A rate is unfairly discriminatory if price differentials fail to equitably reflect the differences in expected losses and expenses after allowing for practical limitations.     (b) A rate is not unfairly discriminatory if it is averaged broadly among persons insured under a:   (i) group, franchise, or blanket policy; or     (ii) mass marketed plan.        Renumbered and Amended by Chapter 130, 1999 General Session
UT Code § 31A-19a-202 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 19a - Utah Rate Regulation Act|Part 2 - General Rate Regulation|Section 202 - Rating methods.

31A-19a-202. Rating methods.    (1) To determine whether rates comply with the standards under Section 31A-19a-201, the commissioner shall consider the:   (a) criteria listed in Subsection (2);     (b) classifications, if any, permitted under Subsection (3);     (c) expenses described in Subsection (4); and     (d) profits described in Subsection (5).       (2) In determining rates the commissioner shall consider within and outside of Utah:   (a) past and prospective loss experience;     (b) catastrophe hazards;     (c) trends;     (d) loadings for leveling premium rates over time;     (e) reasonable margin for profit and contingencies;     (f) dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders; and     (g) other relevant factors.       (3)   (a) Risks may be grouped by classifications for the establishment of rates and minimum premiums.     (b)   (i) A classification rate may be modified to produce rates for individual risks in accordance with rating plans or schedules that establish reasonable standards for measuring probable variations in hazards or expense provisions.     (ii) The standards described in Subsection (3)(b)(i) may measure any differences among risks that can be demonstrated to have a probable effect upon losses or expenses.       (c) Notwithstanding Subsection (3)(b), risk classification may not be based upon race, color, creed, national origin, or the religion of the insured.       (4) The expense provisions included in the rates to be used by an insurer shall reflect:   (a) the operating methods of the insurer; and     (b) its anticipated expenses.       (5) The rates may contain provision for contingencies and an allowance permitting a profit that is not unreasonable in relation to the riskiness of the class of business. In determining the reasonableness of the profit, consideration may be given to investment income.    Renumbered and Amended by Chapter 130, 1999 General Session
UT Code § 31A-19a-204 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 19a - Utah Rate Regulation Act|Part 2 - General Rate Regulation|Section 204 - Rates open to inspection.

31A-19a-204. Rates open to inspection.    (1) Rates and supplementary rate information filed under this chapter shall be open to public inspection at any reasonable time.     (2) The commissioner shall supply copies to any person on:   (a) request; and     (b) payment of a reasonable charge.      Renumbered and Amended by Chapter 130, 1999 General Session
UT Code § 31A-19a-205 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 19a - Utah Rate Regulation Act|Part 2 - General Rate Regulation|Section 205 - Delegation of rate making and rate filing obligation.

31A-19a-205. Delegation of rate making and rate filing obligation.    (1) An insurer may:   (a) itself establish rates and supplementary rate information for any market segment based on the factors in Section 31A-19a-202; or     (b) use rates, pure premium rates, and supplementary rate information prepared by a rate service organization that the insurer selects, with:   (i) average expense factors determined by the rate service organization; or     (ii) any modification for its own expense and loss experience as the credibility of that experience allows.         (2) An insurer may discharge its obligation under Subsection 31A-19a-203(1) by filing with the commissioner:   (a) notification that the insurer uses pure premium rates and supplementary rate information prepared by a licensed rate service organization that the insurer selects; and     (b) any information about modifications the insurer has made to those rates or that information as is necessary fully to inform the commissioner.       (3) If an insurer has discharged its obligation in accordance with Subsection (2), the insurer's rates and supplementary rate information shall be those, including any amendments, filed at intervals by the rate service organization, subject to any modifications filed by the insurer.    Renumbered and Amended by Chapter 130, 1999 General Session
UT Code § 31A-19a-207 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 19a - Utah Rate Regulation Act|Part 2 - General Rate Regulation|Section 207 - Delayed effect of rates.

31A-19a-207. Delayed effect of rates.    (1)   (a) The commissioner may by rule require that insurers in a market segment file with the commissioner any changes in rates or supplementary rate information at least 30 calendar days before they become effective if the commissioner finds, after a hearing, that in that market segment:   (i) competition is not an effective regulator of the rates charged;     (ii) that a substantial number of companies are competing irresponsibly through the rates charged; or     (iii) that there are widespread violations of this chapter.       (b) The commissioner may extend the waiting period under Subsection (1)(a) for not to exceed 30 additional calendar days by written notice to the filer before the first 30-day period expires.     (c) In determining whether competition is an effective regulator of the rates charged, the commissioner shall consider, as to the particular market segment:   (i) the number of insurers actively engaged in providing coverage;     (ii) the respective market shares of insurers providing coverage;     (iii) the volatility of market share fluctuations;     (iv) the ease of entry into the market; and     (v) any other known relevant factors.         (2)   (a) If the commissioner finds that a market segment is noncompetitive under Subsection (1), all rates previously filed and in use may continue to be used until disapproved.     (b) After a finding of a noncompetitive market under Subsection (1), for purposes of disapproval, the commissioner shall treat the filing of existing rates as having been filed as of the date of the rule under Subsection (1).       (3) A competitive market is presumed to exist, unless the commissioner makes a contrary finding under Subsection (1).     (4)   (a) A rule issued under Subsection (1) expires no later than one year from the date on which the rule was adopted, unless the commissioner, after a hearing, renews the rule.     (b) A renewal hearing for a rule issued under Subsection (1) may not be held earlier than nine months after the date on which the rule was issued or last renewed.      Renumbered and Amended by Chapter 130, 1999 General Session
UT Code § 31A-19a-208 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 19a - Utah Rate Regulation Act|Part 2 - General Rate Regulation|Section 208 - Special restrictions on individual insurers.

31A-19a-208. Special restrictions on individual insurers.    (1) The commissioner may require by order that a particular insurer file any or all of its rates and supplementary rate information 30 calendar days prior to their effective date, if the commissioner finds, after a hearing, that to protect the interests of the insurer's insureds and the public in Utah, the commissioner shall exercise closer supervision of the insurer's rates, because of the insurer's financial condition or rating practices.     (2) The commissioner may extend the waiting period described in Subsection (1) for any filing for not to exceed 30 additional calendar days, by written notice to the insurer before the first 30-day period expires.     (3) A filing that has not been disapproved before the expiration of the waiting period is considered to meet the requirements of this chapter, subject to the possibility of subsequent disapproval under Section 31A-19a-206.    Amended by Chapter 297, 2011 General Session
UT Code § 31A-19a-210 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 19a - Utah Rate Regulation Act|Part 2 - General Rate Regulation|Section 210 - Dividend and participating plans.

31A-19a-210. Dividend and participating plans.    (1)   (a) This part does not prohibit the distribution by an insurer to a policyholder of any of the following allowed or returned by the insurer:   (i) dividends;     (ii) savings; or     (iii) unabsorbed premium deposits.       (b) Notwithstanding Subsection (1)(a), an insurer may not distribute dividends, savings, or unabsorbed premium deposits to an entity that has no insurable interest in the insurance.       (2) An insurer may not unfairly discriminate between policyholders in the payment of dividends, savings, or unabsorbed premium deposits.     (3)   (a) A declaration of dividends or schedule explaining the basis for the distribution of dividends, savings, or unabsorbed premium deposits allowed or returned by an insurer to its policyholders is not a rating plan or system if the insurer:   (i) determines and declares the declaration or schedule after a specified policy accounting period; and     (ii) files the declaration or schedule pursuant to Section 31A-21-310.       (b) A declaration or schedule described under Subsection (3)(a) is not required to be filed with the commissioner under this chapter.       (4)   (a) A dividend or participating plan developed by insurers establishing given criteria for eligibility and the general basis for distribution for a dividend, if declared, is considered a rating plan if the plan is to be applicable to an insurance policy from its inception.     (b) A plan described in Subsection (4)(a) shall be filed with the commissioner pursuant to this part.       (5) An insurer may not make the distribution of a dividend or any portion of a dividend conditioned upon renewal of the policy or contract.    Enacted by Chapter 130, 1999 General Session
UT Code § 31A-19a-212 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 19a - Utah Rate Regulation Act|Part 2 - General Rate Regulation|Section 212 - Premium increases prohibited for certain claims or inquiries.

31A-19a-212. Premium increases prohibited for certain claims or inquiries.    (1) Each rate, rating schedule, and rating manual filed for personal lines insurance may not permit a premium increase due to:   (a) a telephone call or other inquiry that does not result in the insured requesting the payment of a claim; or     (b) a claim under a policy of insurance covering a motor vehicle or the operation of a motor vehicle resulting from any incident, including acts of vandalism, in which the person named in the policy or any other person using the insured motor vehicle with the express or implied permission of the named insured is not at fault.       (2) Subsection (1) prohibits a premium increase when:   (a) a policy is issued; or     (b) a policy is renewed.       (3) This section is an exception to Section 31A-19a-201.    Amended by Chapter 117, 2004 General SessionAmended by Chapter 266, 2004 General Session
UT Code § 31A-19a-213 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 19a - Utah Rate Regulation Act|Part 2 - General Rate Regulation|Section 213 - Joint underwriting.

31A-19a-213. Joint underwriting.  Notwithstanding Subsection 31A-19a-306(2)(a), insurers participating in joint underwriting associations or joint reinsurance pursuant to Section 31A-20-102 or other arrangements for risk sharing may in connection with such activity act in cooperation with each other in the making of one or more of the following:  (1) rates;     (2) rating systems;     (3) policy forms;     (4) underwriting rules;     (5) surveys;     (6) inspections and investigations;     (7) the furnishing of loss and expense statistics or other information; or     (8) research.    Enacted by Chapter 130, 1999 General Session