UTAH CODE (Last Updated: January 16, 2015)

§ 31A-22-1202. Other reinsurance contracts.

Latest version.

(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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