R590. Insurance, Administration.R590-120. Surety Bond Forms.
R590-120-1. Authority.
This rule is promulgated by the commissioner pursuant to Subsections 31A-2-201(3) and 31A-21-101(5).
R590-120-2. Purpose and Scope.
(1) The purpose of this rule is to exempt certain surety bond forms from filing requirements and other requirements in Title 31A, Chapter 21, Insurance Contracts in General.
(2) This rule applies to each insurer transacting surety insurance business in this state.
R590-120-3. Rule.
(1) Surety insurance forms, except bail bond insurance forms, are exempt from Sections 31A-21-106, 31A-21-201, 31A-21-303, 31A-21-308 and 31A-21-312.
(2) Bail bond surety forms used by surety insurers and bail bond surety companies must be filed in accordance with 31A-21-201.
R590-120-4. Severability.
If any provision of this rule, Rule R590-120, or its application to any person or situation is held invalid, such invalidity does not affect any other provision or application of this rule that can be given effect without the invalid provision or application. The remainder of this rule shall be given effect without the invalid provision or application.
KEY: insurance rule
Date of Last Change: October 25, 2021
Notice of Continuation: April 1, 2022
Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-21-101
