§ 31A-37-103. Chapter exclusivity.

(1) Except as provided in Subsections (2) and (3) or otherwise provided in this chapter, a provision of this title other than this chapter does not apply to a captive insurance company.

(2) To the extent that a provision of the following does not contradict this chapter, the provision applies to a captive insurance company that receives a certificate of authority under this chapter:

(a) Chapter 2, Administration of the Insurance Laws;

(b) Chapter 4, Insurers in General;

(c) Chapter 5, Domestic Stock and Mutual Insurance Corporations;

(d) Chapter 14, Foreign Insurers;

(e) Chapter 16, Insurance Holding Companies;

(f) Chapter 17, Determination of Financial Condition;

(g) Chapter 18, Investments;

(h) Chapter 19a, Utah Rate Regulation Act;

(i) Chapter 27, Delinquency Administrative Action Provisions; and

(j) Chapter 27a, Insurer Receivership Act.

(3) In addition to this chapter, and subject to Section 31A-37a-103:

(a) Chapter 37a, Special Purpose Financial Captive Insurance Company Act, applies to a special purpose financial captive insurance company; and

(b) for purposes of a special purpose financial captive insurance company, a reference in this chapter to "this chapter" includes a reference to Chapter 37a, Special Purpose Financial Captive Insurance Company Act.

Amended by Chapter 284, 2011 General Session