(1) Each year, a benefit company shall send the benefit report described in Section 48-4-401 to each member: (a) within 120 days after the day on which the benefit company's fiscal year ends; or (b) the day on which the benefit company delivers any other annual report to the benefit company's members.

(a) within 120 days after the day on which the benefit company's fiscal year ends; or

(b) the day on which the benefit company delivers any other annual report to the benefit company's members.

(2) (a) Within five days after the day on which a benefit company sends a benefit report to each member in accordance with Subsection (1), the benefit company shall: (i) subject to Subsection (2)(b), post a copy of the benefit report on a public portion of the benefit company's website; and (ii) deliver a copy of the benefit report to the division for filing. (b) If a benefit company does not have a website, the benefit company shall provide a copy of the benefit report, without charge, to any person who requests a copy. (c) The benefit company may omit any financial or proprietary information from a copy of a benefit report described in Subsection (2)(a) or (b). (d) The division may charge a fee established by the division in accordance with Section 63J-1-504 for filing an annual benefit report in accordance with this section.

(a) Within five days after the day on which a benefit company sends a benefit report to each member in accordance with Subsection (1), the benefit company shall: (i) subject to Subsection (2)(b), post a copy of the benefit report on a public portion of the benefit company's website; and (ii) deliver a copy of the benefit report to the division for filing.

(i) subject to Subsection (2)(b), post a copy of the benefit report on a public portion of the benefit company's website; and

(ii) deliver a copy of the benefit report to the division for filing.

(b) If a benefit company does not have a website, the benefit company shall provide a copy of the benefit report, without charge, to any person who requests a copy.

(c) The benefit company may omit any financial or proprietary information from a copy of a benefit report described in Subsection (2)(a) or (b).

(d) The division may charge a fee established by the division in accordance with Section 63J-1-504 for filing an annual benefit report in accordance with this section.