Utah § 31A-5-508 Transfer of business or assets.

Utah Statutes

§ 31A-5-508 — Transfer of business or assets.

Utah § 31A-5-508

Title 31AInsurance Code

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

Part 31A-5-5Corporate Reorganization

This text of Utah § 31A-5-508 (Transfer of business or assets.) 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-5-508 (2026).

Text

(1)In the sale, lease, exchange, or mortgage of assets with or without shareholder action, and concerning the rights of dissenting shareholders in those transactions, Sections 16-10a-1201, 16-10a-1202, 16-10a-1320 through 16-10a-1328, 16-10a-1330, and 16-10a-1331 apply to stock corporations. In the sale, lease, exchange, or mortgage of assets, Section 16-6a-1201 applies to mutuals.

(2)Chapter 16, Insurance Holding Companies, applies to:

(2)(a) the sale of a domestic insurer's assets or book of business, other than in the ordinary course of business; or

(2)(b) the insurer entering into contracts of reinsurance which have substantially the same effect as a merger.

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(1) In the sale, lease, exchange, or mortgage of assets with or without shareholder action, and concerning the rights of dissenting shareholders in those transactions, Sections 16-10a-1201, 16-10a-1202, 16-10a-1320 through 16-10a-1328, 16-10a-1330, and 16-10a-1331 apply to stock corporations. In the sale, lease, exchange, or mortgage of assets, Section 16-6a-1201 applies to mutuals.
(2) Chapter 16, Insurance Holding Companies, applies to:

(2)(a) the sale of a domestic insurer's assets or book of business, other than in the ordinary course of business; or
(2)(b) the insurer entering into contracts of reinsurance which have substantially the same effect as a merger.