Title 31A Chapter 22 Section 1202
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Section 1202 | Other reinsurance contracts. |
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31A-22-1202. Other reinsurance contracts.
(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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