Utah Code § 31A-16b-108
Penalties
Utah · Utah Code Title 31A — Insurance Code · Status: effective
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- Citation
- Utah Code § 31A-16b-108, Penalties, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2333437
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Full text
(1) An insurer or insurance group that, without just cause, fails to timely file a corporate governance annual disclosure as required in this chapter shall, after notice and hearing, pay a penalty of $10,000 for each day's delay, up to $300,000.
(2) Any penalty recovered by the commissioner under this section shall be deposited into the General Fund.
(3) The commissioner may reduce a penalty under this section if the insurer or insurance group demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.