31A-5-103. Orders imposing and relaxing restrictions.
(1) The commissioner may by order subject an individual corporation not otherwise
subject to some or all of the restrictions of Subsections 31A-5-304(4), 31A-5-305(1)(a),
31A-5-305(2)(a)(i) and (ii), and 31A-5-410(1)(b) if he finds after a hearing that the individual
corporation's financial condition, management, and other circumstances require additional
regulation for the protection of the interests of insureds or the public. The commissioner shall
detail in writing the grounds for his order.
(2) The commissioner may by order free a new corporation from any or all of the
restrictions generally applicable to new corporations under the provisions listed in Subsection (1),
if he is satisfied that the corporation's financial condition, management, and other circumstances
give assurance that the interests of insureds and the public will not be endangered by doing so.
Amended by Chapter 1, 2000 General Session
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Last revised: Thursday, May 28, 2009