1. (1) The purpose of this rule is to:

   1. (a) recognize the Surplus Line Association of Utah as the advisory organization of surplus lines producers;
   2. (b) authorize the Surplus Line Association of Utah to conduct the examination of surplus lines transactions;
   3. (c) authorize the Surplus Line Association of Utah to collect a stamping fee;
   4. (d) require that a surplus lines producer be a member of the advisory organization;
   5. (e) regulate access and exceptions to the surplus lines market; and
   6. (f) prescribe procedures for the placement of insurance with a surplus lines insurer.
2. (2) This rule applies to a person placing insurance with a surplus lines insurer on a risk located in Utah.

KEY: insurance

Date of Last Change: January 24, 2024

Notice of Continuation: May 21, 2024

Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-15-103; 31A-15-111