Utah § 31A-44-307 Disclosure statement -- Contents -- Financial information.

Utah Statutes

§ 31A-44-307 — Disclosure statement -- Contents -- Financial information.

Utah § 31A-44-307

Title 31AInsurance Code

Ch. 31A-44Continuing Care Provider Act

Part 31A-44-3Provider Disclosure

This text of Utah § 31A-44-307 (Disclosure statement -- Contents -- Financial information. ) 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-44-307 (2026).

Text

The provider disclosure statement shall:

(1)describe any provisions the provider made or will make to provide reserve funding or security to enable the provider to fully perform the provider's obligations under a continuing care contract, including:

(1)(a) the establishment of an escrow account, trust, or reserve fund, and the manner in which the provider will invest the account, trust, or reserve funds; and

(1)(b) the name and experience of an individual in the provider's direct employment who will make the investment decisions;

(2)contain a provider financial statement, prepared in accordance with generally accepted accounting principles, and audited by an independent certified public account, that includes:

(2)(a) a balance sheet as of the end of the most recent fiscal year;

(2)(b)

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The provider disclosure statement shall:
(1) describe any provisions the provider made or will make to provide reserve funding or security to enable the provider to fully perform the provider's obligations under a continuing care contract, including:

(1)(a) the establishment of an escrow account, trust, or reserve fund, and the manner in which the provider will invest the account, trust, or reserve funds; and
(1)(b) the name and experience of an individual in the provider's direct employment who will make the investment decisions;
(2) contain a provider financial statement, prepared in accordance with generally accepted accounting principles, and audited by an independent certified public account, that includes:

(2)(a) a balance sheet as of the end of the most recent fiscal year;
(2)(b) an income statement for each of the three most recent fiscal years; and
(2)(c) a cash flow statement for each of the three most recent fiscal years.