Section R590-244-3 - DefinitionsTerms used in this rule are defined in Sections 31A-1-301, 31A-23a-102, 31A-23b-102, 31A-26-102, and 31A-35-102. Additional terms are defined as follows:
(1) "Active license" means authorization by the commissioner to engage in an activity that is part of or related to the insurance business.(2) "Inactive license" means a licensee is no longer authorized by the commissioner to engage in an activity that is part of or related to the insurance business.(3) "Lapse" means the inactivation of an active license by expiration of the period for which the license was issued or by operation of law.(4) "License application" means information submitted by a license applicant that is used by the commissioner to evaluate the applicant's qualifications and decide whether to:(a) issue or decline to issue a license;(b) add or decline to add an additional line of authority to an active license;(c) renew or decline to renew an active license; or(d) reinstate or decline to reinstate an inactive license.(5) "License type" means a category of license identifying a specific functional area of insurance activity for which the commissioner may grant authority to do business.(6) "Line of authority" means a line of insurance in a particular subject matter area within a license type for which the commissioner may grant authority to do business.(7) "NIPR" means an electronic application software provided by the National Insurance Producer Registry.(8) "Reinstate" means the activation of an inactive license within 365 days of the inactivation date.(9) "Renewal" means the continuation of an active license from one two-year licensing period to another, except that the licensing period for a bail bond agency is one year.(10) "Resident," for the purpose of a resident insurance license, means a person claims this state as the person's home state in which the person:(a) maintains the person's principal place of business or residence; and(b) is licensed to do insurance business.(11) "Sircon" means an electronic application software provided by Vertafore or its acquiring parent company.(12) "Termination for cause" means:(a) an insurer or an agency has ended its relationship with a licensee or has cancelled the licensee's authority to act on behalf of the insurer or agency for one of the reasons identified in Subsection 31A-23a-111(5); or(b) a licensee has been found to have engaged in any of the activities identified in Subsection 31A-23a-111(5), 31A-23b-401(4), or 31A-26-213(5), by a court, government body, or self-regulatory organization authorized by law.Utah Admin. Code R590-244-3
Amended by Utah State Bulletin Number 2015-3, effective 1/12/2015Amended by Utah State Bulletin Number 2017-24, effective 11/21/2017Amended by Utah State Bulletin Number 2021-02, effective 1/8/2021Amended by Utah State Bulletin Number 2023-08, effective 4/7/2023