Salt Lake Telegram | 1919-11-11 | Page 13 | Insurance Rules as to Foreign Firms Given

R U L E S lAS AS TO FOREIGN FIRMS FIR M GIVEN VE Rulon ulon So S. S Wells Draws Up lp i Regulations Upon Business 1 Rulon Rulon S. S Wells state elate Insurance com- com n s loner ner has straightened the tangle the necessity of ot foreign being admitted to the Utah nce field before they may carry Insurance ns rance business from companies u 1 to do business in the state policies affecting property or perona per- per one ona In Utah This was done by following official ruling Any fAny Insurance company doing busl- busl ies's ess s In this state may reinsure the hole le or any part of Its policy oblige obliga- tons Ions in any other insurance company whether hether such other company is author- author d in this state or not and the ac- ac of ot such reinsurance business rIa ya company not admitted does not a a. violation of ot the Insurance 18 of ot this state provided That That hat any such authorized company compan hus ceding the whole or any part of ot by reinsurance to an un- un company shall take or re revive re- re Ive vive no credit of at any kind either as a a. auction of ot taxes or of ot liabilities on of ot such reinsurance That no unauthorized insurance shall transact any Insurance either elther either direct or reinsurance In this state by soliciting or other within the state No such un- un company has any privileges state or s standing d. d Ing in our courts That any or authorized authorized tan d company I I transacting only a reinsurance business busi busi- business 11 ness and desiring to discontinue compliance compliance compliance com com- with the annual requirements of ot this department must first effect a legal withdrawal from this state as provided by lawIt lawIt lawIt law It should be understood however that any company having withdrawn from th the state and at some future tutule date desiring to be again admitted will be required to meet the preliminary re requirements requirements re- re Just the same as if It it had never been previously admitted