1. (1) This chapter applies to all third party administrators.

2. (2) The purposes of this chapter include:

   1. (a) encouraging disclosure of contracts between insurers and third party administrators, both to potential insureds and to the commissioner;
   2. (b) promoting the financial responsibility of third party administrators;
   3. (c) subjecting persons administering insurance in Utah to the jurisdiction of the Utah commissioner and courts;
   4. (d) regulating third party administrators' practices in conformity with the general purposes of this title; and
   5. (e) governing the qualifications and procedures for the licensing of third party administrators.

Amended by Chapter 116, 2001 General Session