Utah Statutes
§ 31A-37-104 — Applicability of reorganization, receivership, and injunction authority.
Utah·Title 31A Insurance Code·Ch. 31A-37 Captive Insurance Companies Act·Part 31A-37-1 General Provisions
(1)Except as provided in Chapter 37a, Special Purpose Financial Captive Insurance Company Act, and Subsection (2), Chapter 27a, Insurer Receivership Act, applies to a captive insurance company formed or holding a certificate of authority under this chapter.
(2)In the case of a sponsored captive insurance company:
(2)(a) the assets of a cell may not be used to pay an expense or claim other than one attributable to the cell; and
(2)(b) the capital and surplus of the sponsored captive insurance company:
(2)(b)(i) shall at all times be available to pay:
(2)(b)(i)(A) an expense of the sponsored captive insurance company; or
(2)(b)(i)(B) a claim against the sponsored captive insurance company; and
(2)(b)(ii) may not be used to pay an expense or claim attributable to a cell.
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Utah § 31A-37-104 (Applicability of reorganization, receivership, and injunction authority.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Chapter 175, 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.