Utah Statutes
§ 31A-18-107 — Protection against currency fluctuations.
(1)An insurer that, in the ordinary course of business, makes payments in more than one currency shall have an investment in securities:
(1)(a) in each of the currencies with which the insurer makes payments; and
(1)(b) in an amount that, independent of all other investments, meets the requirements of this chapter as applied separately to the insurer's obligation in each currency.
(2)The commissioner may exempt an insurer, or a class of insurers, from the requirement described in Subsection (1), if the commissioner determines the obligations an insurer or class of insurers maintains in other currencies are small enough that there is not a significant risk to the financial security of the insurer or the class of insurers from substantial fluctuation in relative currency values.
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Utah § 31A-18-107 (Protection against currency fluctuations.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Repealed and Re-enacted by Chapter 368, 2025 General Session
Nearby Sections
15
§ 31A-1-101
Short title.§ 31A-1-102
Purposes.§ 31A-1-103
Scope and applicability of title.§ 31A-1-104
Authorization to do insurance business.§ 31A-1-105
Presumption of jurisdiction.§ 31A-1-106
Residual unlicensed domestic insurers.§ 31A-1-107
Licensees under former Title 31.§ 31A-1-108
Corporations in the process of organizing.§ 31A-1-109
Name of licensee.§ 31A-1-110
Scope of a license.§ 31A-1-201
Construction.§ 31A-1-202
Effect of repeal of former provisions.§ 31A-1-203
Interpretive rules.§ 31A-1-205
Severability.§ 31A-1-301
Definitions.