Utah Administrative Code
Topic - Insurance
Title R590 - Administration
Rule R590-222 - Life Settlements
Section R590-222-6 - Annual Report
Universal Citation: UT Admin Code R 590-222-6
Current through Bulletin 2024-06, March 15, 2024
(1)
(a) By March 1 of each calendar year, a life
settlement provider shall submit an annual report to the
commissioner.
(b) The report in
Subsection (1)(a) is limited to all life settlement transactions where the
owner is a resident of this state.
(2) The report shall:
(a) contain information for the previous
calendar year for each life settlement contracted during the reporting
period;
(b) be submitted in the
format in Appendix B; and
(c)
contain the following:
(i) a coded
identifier;
(ii) a policy issue
date;
(iii) a date of the life
settlement;
(iv) a net death benefit
settled;
(v) an amount available to
the policyholder under the terms of the policy at the time of the settlement;
and
(vi) a net amount paid to the
owner.
(3) The completed report shall be submitted by email to life.uid@utah.gov.
Disclaimer: These regulations may not be the most recent version. Utah may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
