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2021 Utah Code
Title 31A - Insurance Code
Chapter 4 - Insurers in General
Section 105.5 - Deposit required from foreign insurers.
Universal Citation:
UT Code § 31A-4-105.5 (2021)
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31A-4-105.5. Deposit required from foreign insurers.
Enacted by Chapter 316, 1994 General Session
- (1)
- (a) Foreign insurers operating under Chapter 14, Foreign Insurers, shall maintain a deposit in the amount of the insurer's minimum required capital for stock insurers, or minimum required permanent surplus for mutual insurers.
- (b) The deposit shall be held for the benefit of all policyholders and may be maintained with an official of some other state designated by law to accept the deposit.
- (2) The commissioner may not issue or renew a certificate of authority to an insurer until the insurer complies with this section.
Enacted by Chapter 316, 1994 General Session
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