Title 31A Chapter 16 Section 101
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Insurance Code | |
Insurance Holding Companies | |
Section 101 | Scope and purpose of chapter. |
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31A-16-101. Scope and purpose of chapter.
(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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