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Utah Code Title 31A. Insurance Code § 31A-5-104. General corporate powers and procedures

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

(1)(a) Subject to other provisions of this code, Section 16-10a-302 applies to stock and mutual insurance corporations.

(b) Subject to other specific provisions of this title, a domestic insurance corporation may participate in any activity permitted as a promoter, partner, member, associate, or manager of any partnership, joint venture, trust, or other enterprise.

(2)Subsections 16-10a-303(2)(a) and (b) apply to stock corporations, and Section 16-10a-622 applies to mutuals.

(3) Whenever a seal is required on a corporate document, writing or printing the word “Seal” constitutes a valid seal.

(4) In waiving notice and in informal actions by shareholders, members, or directors, Sections 16-10a-704, 16-10a-706, and 16-10a-823 apply to stock corporations, and Sections 16-6a-705 and 16-6a-707 apply to mutuals.

(5) A life insurance corporation may hold assets under Section 31A-22-410 as general corporate assets or as trustee.

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Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-5-104. General corporate powers and procedures - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-5-104/

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