Section 31A-28-111 - Duties and powers under this partThe duties and powers described in this section are in addition to the duties and powers enumerated elsewhere in this part.
(1) The commissioner shall: (a) upon request of the board of directors, provide the association with a statement of the premiums for each member insurer:(ii) any other appropriate state; and(b) if an impairment is declared and the amount of the impairment is determined, serve a demand upon the impaired insurer to make good the impairment within a reasonable time.(2) Notice to the impaired insurer under Subsection (1)(b) constitutes notice to the shareholders of the impaired insurer if the impaired insurer has shareholders.(3) The failure of the impaired insurer to promptly comply with the commissioner's demand under Subsection (1)(b) does not excuse the association from the performance of its powers and duties under this part.(4)(a) After notice and hearing, the commissioner may suspend or revoke the certificate of authority to transact business in this state of a member insurer not domiciled in this state that fails to:(i) pay an assessment when due; or(ii) comply with the plan of operation.(b)(i) As an alternative to suspending or revoking a certificate of authority under Subsection (4)(a), the commissioner may levy a forfeiture on any member insurer that fails to pay an assessment when due.(ii) A forfeiture described in Subsection (4)(b)(i): (A) may not exceed 5% of the unpaid assessment per month; and(B) may not be less than $100 per month.(5)(a) A final action of the board of directors or the association may be appealed to the commissioner by any member insurer if appeal is taken within 60 days of the date the member insurer received notice of the final action being appealed.(b) If a member insurer is appealing an assessment, the amount assessed shall be: (i) paid to the association; and(ii) made available to meet association obligations during the pendency of an appeal.(c) If the appeal on the assessment described in Subsection (5)(b) is upheld, the amount paid in error or excess shall be returned to the member insurer.(d) Any final action or order of the commissioner is subject to judicial review in a court of competent jurisdiction in accordance with the laws of this state that apply to the actions or orders of the commissioner.(6) The receiver of an impaired insurer shall notify the interested persons of the effect of this part.Amended by Chapter 391, 2018 General Session ,§ 12, eff. 1/1/2019.Amended by Chapter 292, 2010 General Session.