2006 Utah Code - 31A-27-336 — Liquidator\'s recommendations to the court.

     31A-27-336.   Liquidator's recommendations to the court.
     (1) The liquidator shall review all claims duly filed in the liquidation and shall make any further investigation as he considers necessary. He may compound, compromise, or in any other manner negotiate the amount for which claims will be recommended to the court, except where the liquidator is required by law to accept claims as settled by another person, including a guaranty fund or association. Unresolved disputes shall be determined under Section 31A-27-332. As soon as practicable, the liquidator shall present to the court the reports of claims against the insurer with the liquidator's recommendations. The liquidator shall notify claimants of these recommendations. The report shall include the name and address of each claimant, the particulars of the claim, and the amount of the claim finally recommended, if any. If the insurer has issued annuities or life insurance policies, the liquidator shall report the persons to whom, according to the records of the insurer, amounts are owed as cash surrender values or other investment values and the amounts owed. If the insurer has issued policies on the advance premium plan, the liquidator shall report the persons to whom, according to the records of the insurer, unearned premiums are owed and the amounts that are owed.
     (2) The court may approve, disapprove, or modify the report on claims by the liquidator, except that the liquidator's agreements with other parties are final and binding on the court on claims of any size which are settled by a payment of $1,500 or less. No claim under a policy of insurance may be allowed for an amount in excess of the applicable policy limits.

Enacted by Chapter 242, 1985 General Session