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Utah Code Title 31A. Insurance Code § 31A-27a-802. Discharge of liquidator and termination of liquidation proceedings

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) When all property justifying the expense of collection and distribution is collected and distributed under this chapter, the liquidator shall apply to the receivership court for an order discharging the liquidator and terminating the proceeding.

(2) The receivership court may grant the application and make any other orders, including orders to:

(a) transfer any remaining funds that are uneconomic to distribute; or

(b) pursuant to Subsection 31A-27a-703(3), assign an asset that remains unliquidated, including a claim or cause of action, as may be considered appropriate.

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Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-27a-802. Discharge of liquidator and termination of liquidation proceedings - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-27a-802/

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