R590-222-6. Annual Report

(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.