Utah § 31A-27a-801 Condition on release from delinquency proceedings.

Utah Statutes

§ 31A-27a-801 — Condition on release from delinquency proceedings.

Utah § 31A-27a-801

Title 31AInsurance Code

Ch. 31A-27aInsurer Receivership Act

Part 31A-27a-8Discharge

This text of Utah § 31A-27a-801 (Condition on release from delinquency proceedings.) 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-801 (2026).

Text

(1)Unless otherwise provided in a plan approved by the guaranty associations, an insurer that is subject to a rehabilitation proceeding may not take an action listed in Subsection (2) until all payments by all guaranty associations of or on account of the insurer's contractual obligations are repaid to the guaranty associations with:

(1)(a) all expenses related to the payments by all guaranty associations of or on account of the insurer's contractual obligations; and

(1)(b) interest on all the payments.

(2)Until an insurer that is subject to a rehabilitation proceeding complies with Subsection (1), the insurer may not:

(2)(a) be permitted to:

(2)(a)(i) solicit or accept new business; or

(2)(a)(ii) request or accept the restoration of any suspended or revoked license or certificate of a

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(1) Unless otherwise provided in a plan approved by the guaranty associations, an insurer that is subject to a rehabilitation proceeding may not take an action listed in Subsection (2) until all payments by all guaranty associations of or on account of the insurer's contractual obligations are repaid to the guaranty associations with:

(1)(a) all expenses related to the payments by all guaranty associations of or on account of the insurer's contractual obligations; and
(1)(b) interest on all the payments.
(2) Until an insurer that is subject to a rehabilitation proceeding complies with Subsection (1), the insurer may not:

(2)(a) be permitted to:
(2)(a)(i) solicit or accept new business; or
(2)(a)(ii) request or accept the restoration of any suspended or revoked license or certificate of authority;
(2)(b) be returned to the control of its shareholders or private management; or
(2)(c) have any of its assets returned to the control of its shareholders or private management.