Utah Code Title 31A. Insurance Code § 31A-20-106. Variable contracts

(1)(a) An insurer may not deliver or issue for delivery within this state an insurance policy that provides a life or annuity benefit in a variable amount until the insurer:

(b) Notwithstanding any other provision of law, the commissioner has sole authority to:

(a) the history and financial condition of the insurer;

(b) the character, responsibility, and general fitness of the insurer's officers and directors;  and

(c) in the case of a foreign insurer, whether the regulation provided by the state of its domicile or the jurisdiction in which its head office is located provides protection to policyholders and the public substantially equal to that provided by this title and the rules issued under this title.

(a) the insurer meets the requirements of this section;  or

(b) the parent or the affiliated insurer meets the requirements of this section.

(a) Sections 31A-22-402, 31A-22-407, and 31A-22-409, in the case of a variable annuity policy;

(b) Sections 31A-22-402, 31A-22-407, and 31A-22-408, in the case of a variable life insurance policy;  and

(c) as otherwise provided in this title.