Utah Statutes
§ 31A-37a-105 — Transition.
Utah·Title 31A Insurance Code·Ch. 31A-37a Special Purpose Financial Captive Insurance Company Act·Part 31A-37a-1 General Provisions
(1)(1)(a) Except as otherwise determined by the commissioner, a captive insurance company that on May 5, 2008 has a certificate of authority from the commissioner pursuant to Chapter 37, Captive Insurance Companies Act, and engages in insurance securitization:
(1)(a)(i) is subject to this chapter as a special purpose financial captive insurance company; and
(1)(a)(ii) is considered to have a certificate of authority issued under this chapter.
(1)(b) The commissioner may require a captive insurance company described in Subsection (1)(a) to take an action that the commissioner determines is reasonably necessary to bring the captive insurance company into compliance with this chapter.
(2)The commissioner may issue an order described in Section 31A-37a-201 with respect to a captive insurance
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Legislative History
Enacted by Chapter 302, 2008 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.