Utah § 31A-5-206 Sale of securities by authorized insurer.

Utah Statutes

§ 31A-5-206 — Sale of securities by authorized insurer.

Utah § 31A-5-206

Title 31AInsurance Code

Ch. 31A-5Domestic Stock and Mutual Insurance Corporations

Part 31A-5-2Organization of Corporations

This text of Utah § 31A-5-206 (Sale of securities by authorized insurer.) 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-5-206 (2026).

Text

A domestic insurer that has already received a certificate of authority may issue additional securities to obtain further financing, after obtaining a solicitation permit from the commissioner.  The organizational permit requirements in Section 31A-5-204 apply if the commissioner prescribes its application.  The phrase "organization permit" in Section 31A-5-204 means "solicitation permit" when being applied to this section.  The solicitation permit terminates one year from the date of its issuance.  However, this permit may be extended for not more than one additional year by the commissioner on terms the commissioner considers sufficient to protect the policyholders, the shareholders, and the public.

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A domestic insurer that has already received a certificate of authority may issue additional securities to obtain further financing, after obtaining a solicitation permit from the commissioner. The organizational permit requirements in Section 31A-5-204 apply if the commissioner prescribes its application. The phrase "organization permit" in Section 31A-5-204 means "solicitation permit" when being applied to this section. The solicitation permit terminates one year from the date of its issuance. However, this permit may be extended for not more than one additional year by the commissioner on terms the commissioner considers sufficient to protect the policyholders, the shareholders, and the public.