Utah Statutes
§ 31A-22-507 — Credit union groups.
Utah·Title 31A Insurance Code·Ch. 31A-22 Contracts in Specific Lines·Part 31A-22-5 Group Life Insurance
(1)The lives of a group of individuals may be insured under a policy issued to a policyholder who is:
(1)(a) a credit union; or
(1)(b) trustees or agents designated by two or more credit unions.
(2)A policy described in Subsection (1) shall insure members of a credit union for the benefit of persons other than:
(2)(a) the credit union;
(2)(b) trustees of the credit union;
(2)(c) agents of the credit union; or
(2)(d) an official of an entity described in Subsections (2)(a) through (c).
(3)The policies are subject to the requirements of this Subsection (3).
(3)(a) The persons eligible for insurance are:
(3)(a)(i) all of the members of the credit union; or
(3)(a)(ii) all of any classes of the members of the credit union.
(3)(b) The premiums shall be paid by the policyholder. Except as
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Legislative History
Amended by Chapter 125, 2005 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.