Utah § 31A-22-419 Insurer's purchase of and loans on policies.

Utah Statutes

§ 31A-22-419 — Insurer's purchase of and loans on policies.

Utah § 31A-22-419

Title 31AInsurance Code

Ch. 31A-22Contracts in Specific Lines

Part 31A-22-4Life Insurance and Annuities

This text of Utah § 31A-22-419 (Insurer's purchase of and loans on policies.) 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-22-419 (2026).

Text

Any life insurer may purchase for its own benefit any policy of insurance or other obligation of the company and any claim of its policyholders.  The insurer may also lend to the holders of policies of the company a sum which does not exceed the sum of the cash value of the policies and the surplus or dividend additions to the policies.  The policies and all additions to them shall be security for payment of the loan.  An insurer's security interest in a policy under this section need not be filed under Title 70A, Chapter 9a, Uniform Commercial Code - Secured Transactions, to be perfected.

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Any life insurer may purchase for its own benefit any policy of insurance or other obligation of the company and any claim of its policyholders. The insurer may also lend to the holders of policies of the company a sum which does not exceed the sum of the cash value of the policies and the surplus or dividend additions to the policies. The policies and all additions to them shall be security for payment of the loan. An insurer's security interest in a policy under this section need not be filed under Title 70A, Chapter 9a, Uniform Commercial Code - Secured Transactions, to be perfected.