Utah § 31A-5-418 Dividends and other distributions.

Utah Statutes

§ 31A-5-418 — Dividends and other distributions.

Utah § 31A-5-418

Title 31AInsurance Code

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

Part 31A-5-4Management of Insurance Corporations

This text of Utah § 31A-5-418 (Dividends and other distributions.) 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-5-418 (2026).

Text

(1)Subject to the requirements of Section 16-10a-842 and Subsection 31A-16-106(2), a stock corporation may make distributions under Section 16-10a-640 if all the following conditions are satisfied:

(1)(a) A dividend may not be paid that would reduce the insurer's total adjusted capital below the insurer's company action level RBC as defined in Subsection 31A-17-601(8)(b).

(1)(b) Except as to excess surplus, or unless the commissioner issues an order allowing otherwise, a dividend may not be paid that exceeds the insurer's net gain from operations or net income for the period ending December 31 of the preceding year.

(2)Title 67, Chapter 4a, Revised Uniform Unclaimed Property Act, applies to unclaimed dividends and distributions in insurance corporations.

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(1) Subject to the requirements of Section 16-10a-842 and Subsection 31A-16-106(2), a stock corporation may make distributions under Section 16-10a-640 if all the following conditions are satisfied:

(1)(a) A dividend may not be paid that would reduce the insurer's total adjusted capital below the insurer's company action level RBC as defined in Subsection 31A-17-601(8)(b).
(1)(b) Except as to excess surplus, or unless the commissioner issues an order allowing otherwise, a dividend may not be paid that exceeds the insurer's net gain from operations or net income for the period ending December 31 of the preceding year.
(2) Title 67, Chapter 4a, Revised Uniform Unclaimed Property Act, applies to unclaimed dividends and distributions in insurance corporations.