UTAH CODE (Last Updated: January 16, 2015)

§ 31A-16-101. Scope and purpose of chapter.

Latest version.

(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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