UTAH CODE (Last Updated: January 16, 2015) |
Title 31A. Insurance Code |
Chapter 33. Workers' Compensation Fund |
§ 31A-33-103.5. Powers of Fund -- Limitations.
Latest version.
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(1) The fund may form or acquire subsidiaries or enter into a joint enterprise: (a) in accordance with Section 31A-33-107; and (b) except as limited by this section and applicable insurance rules and statutes. (2) Subject to applicable insurance rules and statutes, the fund may only offer: (a) workers' compensation insurance in Utah; (b) workers' compensation insurance in a state other than Utah to the extent necessary to: (i) accomplish its purpose under Subsection 31A-33-102(1)(b); and (ii) provide workers' compensation or occupational disease insurance coverage to Utah employers and their employees engaged in interstate commerce; and (c) workers' compensation products and services in Utah or other states. (3) Subject to applicable insurance rules and statutes, a subsidiary of the fund may: (a) offer workers' compensation insurance coverage only: (i) in a state other than Utah; and (ii) (A) to insure the following against liability for compensation based on job-related accidental injuries and occupational diseases: (I) an employer, as defined in Section 34A-2-103, that has a majority of its employees, as defined in Section 34A-2-104, hired or regularly employed in Utah; (II) an employer, as defined in Section 34A-2-103, whose principal administrative office is located in Utah; (III) a subsidiary or affiliate of an employer described in Subsection (3)(a)(ii)(A)(I) or (II); or (IV) an employer, as defined in Section 34A-2-103, whose purchase of insurance arises solely out of the purchase of workers' compensation products and services from the fund or a fund subsidiary; or (B) for a state fund organization that is not an admitted insurer in the other state: (I) on a fee for service basis; and (II) without bearing any insurance risk; and (b) offer workers' compensation products and services in Utah and other states. (4) The fund shall write workers' compensation insurance in accordance with Section 31A-22-1001.