Section R590-170-7 - Maintaining Accounting Records(1) Trust account bank statements shall be reconciled monthly.(2) An accounts receivable report showing each credit and debit shall be maintained and reconciled monthly, and shall list, at a minimum, the following:(b) the amount and date due for each receivable; and(c) the sum of all receivables. (3) The report required under Subsection (2) shall list separately each receivable and their sums that are over 90 days old.(4) An accounts payable report showing each account's status shall be maintained and reconciled monthly.(5) Adequate records shall be maintained to establish ownership of all funds in the trust account, including:(a) records showing from whom the funds were received; and(b) records showing for whom the funds are held. (6) Trust account registers shall maintain a running balance.(7) All accounting records relating to the business of insurance shall be maintained in a manner that facilitates an audit.Utah Admin. Code R590-170-7
Amended by Utah State Bulletin Number 2022-12, effective 5/26/2022