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the Utah Code
2012 Utah Code
Title 31A - Insurance Code
Article 22 - Contracts in Specific Lines
Section 1202 - Other reinsurance contracts.
Universal Citation:
UT Code ยง 31A-22-1202 (2012)
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31A-22-1202. Other reinsurance contracts.
(1) If there is no assumption agreement under Subsection 31A-22-1201(2), the reinsurer's sole obligation is to the ceding insurer.
(2) No guaranty fund, security fund, or any other person, except the estate of the ceding insurer, has a claim against a reinsurer.
(3) Subject to contractual rights of offset, if a ceding insurer is put into receivership, the reinsurer shall pay any amount due under the contract in full, without reduction because of the receivership:
(a) to the domiciliary receiver if there is one; or
(b) if there is not domiciliary receiver, to a Utah receiver.
Amended by Chapter 257, 2008 General Session
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