1. (1) In addition to the grounds in Section 31A-37-505, the commissioner may suspend or revoke the license of a company or place a company on probation for the following reasons:

   1. (a) the company has not commenced business according to its plan of operation within two years of being licensed;
   2. (b) the company ceased to carry on insurance business in or from Utah; or
   3. (c) at the request of the company.
2. (2) An action taken by the commissioner shall be in accordance with Title 63G, Chapter 4, Utah Administrative Procedures Act.

KEY: captive insurance

Date of Last Change: February 9, 2026

Notice of Continuation: May 2, 2022

Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-37-106