Show DAR AB i 1 f FOR IUAN OtE N IN U AN State Commissioner Commission r to Stop Practice of Evading Paying Paying Paying Pay Pay- ing Several Licenses Demanded Demanded De De- De by tIe tle Law LawI Law I companies accept accept- i 1 ing business solicited by representatives rep rep- of other companies companies- are likely likey to have their licenses revoked according to Rulon Kulon SWells S SWells S. S Wells state insurance commissioner Mr 1 Wells VeIls says he has bas been advised there are persons authorized to represent represent represent rep rep- resent one company who are actually actually- soliciting business for tor another company company com corn pany or companies The law provides that any company accepting business from the time representatives of other companies ren renders ers itself liable to be put out of business business' in Utah for one year The license fee paid to the state by agents is 2 but it is alleged that many have been representing more I than one company and the state has lost consider considerable ble revenue thereby I The 2 only covers a license fee fo l agent of one com company any Mr Yell Wells says I The fact that an agent liol hol s. s a n certificate to represent one fir fires ln- ln In Insurance company or any other Com Company om- om pany does not in any ny way aut orize him hint to solicit or deliver a poll policy y to any other company even thou though h It may be issued out of the same ag agency ncy Every agent and by this tel terra tern is is' is meant any any person firm or corp r tion who who solicits or transmits alJ applications li- li rations either directly or indirectly and for compensation must be ed with a certificate t o of authority f from oi om each company for whom he soli solicits and to whom he transmits his I IThe IThe The ruling as expressed in the law lawis aw awis awis is of great importance to the insurance ance business it is claimed Heretofore Heretofore Hereto Hereto- fore according to reports received by Mr l Wells Yells there have been fragrant violations and the warning l ij given that unless steps are arc immediately ta taken taken ta- ta ken len to take out licenses on a basis of f proper representation that a few in insurance 4 companies might lose the he right to operate in the state for a year |