Utah Department of Insurance Amends Regulations on Surplus Lines Insurance Premium Tax, Stamping Fee

The Utah Department of Insurance April 1 amended regulations concerning the surplus lines insurance premium tax and stamping fee, for excise tax purposes. The rules include measures: 1) fixing style issues to align the rule text with current rule-writing standards; 2) reflecting the current practice of imposing a minimum $10 late fee for late stamping fee payments; 3) clarifying that if any rule or its application to any person or situation is held invalid, the remainder of the rule will be given effect without the invalid provision or application; 4) removing a penalty provision found in the statute; and 5) ...