Utah § 31A-37a-302 Minimum capital and surplus.

Utah Statutes

§ 31A-37a-302 — Minimum capital and surplus.

Utah § 31A-37a-302

Title 31AInsurance Code

Ch. 31A-37aSpecial Purpose Financial Captive Insurance Company Act

Part 31A-37a-3Formation and Assets

This text of Utah § 31A-37a-302 (Minimum capital and surplus.) 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-37a-302 (2026).

Text

(1)The commissioner may not issue a special purpose financial captive insurance company a certificate of authority under this chapter unless it possesses unimpaired paid-in capital and surplus of not less than $250,000 on the day on which the certificate of authority is issued.

(2)A special purpose financial captive insurance company shall maintain unimpaired paid-in capital and surplus of not less than $250,000 at all times when having a certificate of authority under this chapter.

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(1) The commissioner may not issue a special purpose financial captive insurance company a certificate of authority under this chapter unless it possesses unimpaired paid-in capital and surplus of not less than $250,000 on the day on which the certificate of authority is issued.
(2) A special purpose financial captive insurance company shall maintain unimpaired paid-in capital and surplus of not less than $250,000 at all times when having a certificate of authority under this chapter.