Utah Statutes
§ 31A-5-508 — Transfer of business or assets.
Utah·Title 31A Insurance Code·Ch. 31A-5 Domestic Stock and Mutual Insurance Corporations·Part 31A-5-5 Corporate Reorganization
(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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Legislative History
Amended by Chapter 300, 2000 General Session
Nearby Sections
15
§ 31A-1-101
Short title.§ 31A-1-102
Purposes.§ 31A-1-103
Scope and applicability of title.§ 31A-1-104
Authorization to do insurance business.§ 31A-1-105
Presumption of jurisdiction.§ 31A-1-106
Residual unlicensed domestic insurers.§ 31A-1-107
Licensees under former Title 31.§ 31A-1-108
Corporations in the process of organizing.§ 31A-1-109
Name of licensee.§ 31A-1-110
Scope of a license.§ 31A-1-201
Construction.§ 31A-1-202
Effect of repeal of former provisions.§ 31A-1-203
Interpretive rules.§ 31A-1-205
Severability.§ 31A-1-301
Definitions.