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2021 Utah Code
Title 31A - Insurance Code
Chapter 16 - Insurance Holding Companies
Section 101 - Scope and purpose of chapter.
Universal Citation:
UT Code § 31A-16-101 (2021)
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31A-16-101. Scope and purpose of chapter.
Enacted by Chapter 242, 1985 General Session
- (1) This chapter applies to all persons doing an insurance business in Utah.
- (2) The purposes of this chapter include:
- (a) exercising surveillance over the acquisition of a domestic insurer, to ensure that in the process of making it part of an insurance holding company system, the interests of policyholders, shareholders, and the public are not harmed;
- (b) providing the regulatory monitoring of those intercorporate relationships and transactions among affiliates within an insurance holding company system that may affect the solidity of insurers;
- (c) controlling the payment of dividends that might affect the solidity of insurers; and
- (d) providing, in appropriate cases, recoupment of dividends paid.
Enacted by Chapter 242, 1985 General Session
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