1. Submission forms must accompany the dec page or binder, which is sent to the Association office for examination and stamping. These submission forms must be sent in duplicate.

2. Both the original and duplicate of the submission form must be filed with the Association office together with one (1) copy of the deck page or binder within sixty days (60) from the effective date of coverage.

3. Within (20) days from receipt of a submission form and the policy/binder, the Association will approve the same by stamping the white (original) submission form “REGISTERED WITH THE SURPLUS LINE ASSOCIATION OF UTAH.” The stamped submission form will then be returned to the sending surplus line producer. The duplicate form and the policy/binder are retained by the Association.

Submissions which are incomplete or lacking the required information will be returned with an Association form which will designate the incomplete or missing data and will request the necessary amendment for correction and return of the same.

Submissions, which are not approved surplus line insurance, will be submitted in synopsis form to the Board of Directors for its study and decision. If they determine that the coverage should not have been placed with a surplus line company, the submission and a letter stating the Board’s decision will be returned to the sender.

4. Upon receipt by the Utah Surplus Line Producer of the REGISTERED submission form, the same should be attached to the producer’s office copy of the policy/certificate and retained.

5. All endorsements must be filed promptly with the Association office using the
Premium Memorandum form.

6. Effective January 1, 1993 amounts to be added to the gross premium consist of:

.0425 Utah Surplus Line Tax
.0025 Stamping Fee

7. When submitted to the Association office, the submission will be examined to ascertain that there has been compliance with the Utah law, the Commissioner’s Rules, and the Association requirements. You will be notified of any defects or omissions.

8. The surplus line producer must sign all submission forms and premium memorandum forms. His/Her office personnel, with his/her permission may sign their name, with his/her name or initials included.

9. Each month the Association office will mail out statements to the agency. This will be an itemized statement of business done during the preceding month. Taxes and stamping fees will be indicated on the statement. Payment is required by the 25th of the month.

10. Penalties: Utah law requires that a penalty be assessed if the tax is not paid within 60 days of the effective date of the policy. The penalty is 25% of the tax due, plus 1-1/2% per month from the time of default until full payment of the tax.