31A-22-425. Rulemaking authority for standards related to life insurance and annuities.

109 words·~1 min read·/ut/title-31a/chapter-22/31a-22-425

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act , the commissioner may make rules to establish standards for any of the following:

(1)if used in connection with the solicitation or sale of life insurance policies and contracts:

(a)a buyer's guide;

(b)a disclosure;

(c)an illustration;

(d)a policy summary; or

(e)a recommendation; and

(2)in a life insurance policy, annuity contract, or life insurance or annuity certificate:

(a)a definition of a term;

(b)a disclosure;

(c)an exclusion; or

(d)a limitation.

Amended by Chapter 382 , 2008 General Session