Utah § 31A-27a-112 Unrecorded obligations and defenses of affiliates.

Utah Statutes

§ 31A-27a-112 — Unrecorded obligations and defenses of affiliates.

Utah § 31A-27a-112

Title 31AInsurance Code

Ch. 31A-27aInsurer Receivership Act

Part 31A-27a-1General Provisions

This text of Utah § 31A-27a-112 (Unrecorded obligations and defenses of affiliates.) 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-27a-112 (2026).

Text

(1)This section applies to a person who in relation to an insurer is:

(1)(a) an affiliate;

(1)(b) a controlled or controlling person; or

(1)(c) a present or former officer, manager, director, trustee, or shareholder.

(2)In a proceeding or claim by the receiver, a person described in Subsection (1) may not assert a defense unless evidence of the defense:

(2)(a) is recorded in the records of the insurer at or about the time the event giving rise to the defense occurs; and

(2)(b) if required by statutory accounting practices and procedures, is timely reported on the insurer's official financial statements filed with the commissioner.

(3)A person described in Subsection (1) may not assert a claim, unless the obligation:

(3)(a) is recorded in the records of the insurer at or about the tim

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(1) This section applies to a person who in relation to an insurer is:

(1)(a) an affiliate;
(1)(b) a controlled or controlling person; or
(1)(c) a present or former officer, manager, director, trustee, or shareholder.
(2) In a proceeding or claim by the receiver, a person described in Subsection (1) may not assert a defense unless evidence of the defense:

(2)(a) is recorded in the records of the insurer at or about the time the event giving rise to the defense occurs; and
(2)(b) if required by statutory accounting practices and procedures, is timely reported on the insurer's official financial statements filed with the commissioner.
(3) A person described in Subsection (1) may not assert a claim, unless the obligation:

(3)(a) is recorded in the records of the insurer at or about the time the obligation is incurred; and
(3)(b) if required by statutory accounting practices and procedures, is timely reported on the insurer's official financial statements filed with the commissioner.
(4) A claim by the receiver against a person described in Subsection (1) that is made on the basis of an unrecorded or unreported transaction is not barred by this section.