31A-22-1305. Persons authorized to issue annuities.
No person may issue an annuity to another person unless the issuer is:
(1) an insurer authorized to issue annuities under,, or; Chapter 5, Domestic Stock and Mutual Insurance Corporations Chapter 9, Insurance Fraternals Chapter 14, Foreign Insurers
(2) a domestic corporation created under, or other applicable law, or a foreign corporation conducted without profit, which is engaged solely in bona fide charitable, religious, missionary, educational, medical, or philanthropic activities; or Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act
(3) a natural person who issues an annuity to the person's spouse, children, grandchildren, great-grandchildren, parents, grandparents, uncles, aunts, brothers, sisters, nieces, or nephews, whether those relationships are by birth, marriage, or legal adoption.