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Utah Code Title 31A. Insurance Code § 31A-37-305. Contributions to guaranty or insolvency fund prohibited

Current as of May 05, 2022 | Updated by FindLaw Staff

(1) A captive insurance company may not join or contribute financially to any of the following in this state:

(a) a plan;

(b) a pool;

(c) an association;

(d) a guaranty fund;  or

(e) an insolvency fund.

(2) A captive insurance company, the insured of a captive insurance company, the parent of a captive insurance company, an affiliate of a captive insurance company, or a member organization of an association captive insurance company may not receive a benefit from:

(a) a plan;

(b) a pool;

(c) an association;

(d) a guaranty fund for claims arising out of the operations of the captive insurance company;  or

(e) an insolvency fund for claims arising out of the operations of the captive insurance company.

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Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-37-305. Contributions to guaranty or insolvency fund prohibited - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-37-305/

Read this complete Utah Code Title 31A. Insurance Code § 31A-37-305. Contributions to guaranty or insolvency fund prohibited on Westlaw

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