§ 31A-27a-507. Receiver as lien creditor.

Latest version.

(1)

The receiver may avoid a transfer of or lien on the property of, or obligation incurred by, an insurer that the insurer or a policyholder, creditor, member, or stockholder of the insurer:

(a)

may have avoided without regard to any knowledge of:

(i)	the receiver;

(ii)	the commissioner;

(iii)

the insurer; or

(iv)	a policyholder, creditor, member, or stockholder of the insurer; and

(b)	whether or not a policyholder, creditor, member, or stockholder described in this Subsection (1) exists.

(2)

The receiver is considered a creditor without knowledge for purposes of pursuing claims under:

(a)	Title 25, Chapter 6, Uniform Fraudulent Transfer Act; or

(b)	similar provisions of state or federal law.

Enacted by Chapter 309, 2007 General Session

                    
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