R590-238-4
R590-238-4. Annual Reporting Requirements
Cite as Utah Admin. Code R590-238-4
(1) A company shall file an annual report of its financial condition with the commissioner as required by Section 31A-37-501.
(2) The report required in Subsection (1) shall be:
(a) verified by oath of at least two individuals who are executive officers of the company and by the captive manager or a appointed representative;
(b) prepared using GAAP; and
(c) filed electronically using the department's website, https://insurance.utah.gov/captive.
(3)(a) A company, except for a company under Subsection (3)(b), shall use the Captive Insurance Company Annual Statement Form.
(b) A risk retention group and a special purpose financial captive shall use the NAIC's Annual and Quarterly Statements.
(4) An annual report shall include a Statement of Economic Benefit to the State of Utah that is filed in accordance with Subsection (2)(c).