Utah Administrative Code
Topic - Insurance
Title R590 - Administration
Rule R590-178 - Securities Custody
Section R590-178-7 - Penalties and Prohibitions
Universal Citation: UT Admin Code R 590-178-7
Current through Bulletin 2024-06, March 15, 2024
(1) Insurance companies found to be or to have been in violation of this rule shall be subject to fine, suspension, and revocation of license or other penalties permitted by Section 31A-2-308.
(2) Insurance companies are not authorized to provide for the custody of their securities except as granted in this rule. Custodial securities held in violation of this rule shall be disregarded in determining and reporting the financial condition of an insurer.
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