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Current as of May 05, 2022 | Updated by FindLaw Staff
(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:
(a) the sale of a domestic insurer's assets or book of business, other than in the ordinary course of business; or
(b) the insurer entering into contracts of reinsurance which have substantially the same effect as a merger.
Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-5-508. Transfer of business or assets - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-5-508/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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