2006 Utah Code - 31A-22-1202 — Other reinsurance contracts.

     31A-22-1202.   Other reinsurance contracts.
     If there is no assumption agreement under Subsection 31A-22-1201(2), the reinsurer's sole obligation is to the ceding insurer. No guaranty or security fund or any other person, except the estate of the ceding insurer, has any claim against the reinsurer. Subject to contractual rights of offset, if the ceding insurer is put into receivership, the reinsurer shall pay any amount due under the contract in full, without reduction because of the receivership, to the domiciliary receiver if there is one, or, if not, then to any Utah receiver.

Enacted by Chapter 242, 1985 General Session