Utah Statutes
§ 31A-21-310 — Dividends on policies.
Utah·Title 31A Insurance Code·Ch. 31A-21 Insurance Contracts in General·Part 31A-21-3 Specific Clauses in Contracts
(1)Section 31A-22-418 applies to life insurance and annuities.
(2)Any insurer may distribute a portion of surplus attributable to policies other than life insurance or annuities, in amounts and with classifications the board of directors determines to be fair and reasonable. This distribution may not be contingent on the renewal of any policy or of premium payments unless the policy stated that limitation when it was written. A schedule explaining the basis for the distribution shall be filed with the commissioner prior to the distribution. The schedule shall be kept confidential by the commissioner unless the commissioner finds that the interests of insureds and the public require that it be made public.
(3)Any insurer may distribute surplus to any class of policyholder, even if the
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Legislative History
Amended by Chapter 302, 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.