Utah § 31A-18-107 Protection against currency fluctuations.

Utah Statutes

§ 31A-18-107 — Protection against currency fluctuations.

Utah § 31A-18-107

Title 31AInsurance Code

Ch. 31A-18Investments

This text of Utah § 31A-18-107 (Protection against currency fluctuations.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 31A-18-107 (2026).

Text

(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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(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.