R590-171-2. Purpose and Scope

(1) The purpose of this rule is to: (a) recognize the Surplus Line Association of Utah as the advisory organization of surplus lines producers; (b) authorize the Surplus Line Association of Utah to conduct the examination of surplus lines transactions; (c) authorize the Surplus Line Association of Utah to collect a stamping fee; (d) require that a surplus lines producer be a member of the advisory organization; (e) regulate access and exceptions to the surplus lines market; and (f) prescribe procedures for the placement of insurance with a surplus lines insurer. (2) This rule applies to a person placing insurance with a surplus lines insurer on a risk located in Utah.