Title 31A, Title 31A: Insurance Code

31A-5-420. Payment of dividends by mutual insurers and mutual insurance holding companies. (1) When doing so is in the best interests of the company, the directors of a domestic mutual insurer or a domestic mutual insurance holding company shall declare, apportion, and pay to the…

31A-5-501. Merger of subsidiary corporation. The merger of subsidiary insurance corporations is subject to the provisions of. In addition, the merger procedures outlined under, apply to the mergers of subsidiary insurance corporations. For the purposes of this section, if the sur…

31A-5-502. Merger and consolidation of stock insurance corporations. Any two or more stock insurance corporations may merge or consolidate, under the procedures set forth under. All mergers are subject to the provisions of.

31A-5-503. Merger and consolidation of mutuals. Any two or more mutuals may merge or consolidate, under the procedures set forth under. All mergers of mutuals are subject to.

31A-5-504. Voluntary dissolution of domestic insurance corporations. (1) Except as otherwise modified by this section, a domestic stock insurance corporation may dissolve under Sectionsthroughand Section. 16-10a-1401 16-10a-1409 16-10a-1440 Except as otherwise modified by this se…

31A-5-505. Conversion of a domestic stock corporation into a mutual. A domestic stock corporation may be converted into a domestic mutual as follows: (1) The board shall adopt a plan of conversion. After adopting the plan, no additional shares of capital stock may be issued, exce…

31A-5-506. Conversion of a domestic mutual into a stock corporation. (1) Except as provided in Subsection, a domestic mutual may be converted into a domestic stock corporation under Subsectionsthrough. (1)(b) (2) (11) A domestic mutual that is affiliated with other mutuals may no…

31A-5-507. Conversion of assessable to nonassessable and nonassessable to assessable mutuals. (1) When an assessable mutual accumulates enough surplus to satisfy the financial requirements for the operation of a nonassessable mutual, it may apply for a certificate of authority au…

31A-5-508. Transfer of business or assets. (1) In the sale, lease, exchange, or mortgage of assets with or without shareholder action, and concerning the rights of dissenting shareholders in those transactions, Sections,,through,, andapply to stock corporations. In the sale, leas…

31A-5-509. Conversion of a domestic mutual life insurance company into a fraternal. A domestic mutual life insurance company may be converted into a fraternal under, in the following manner: (1) The board of directors of the company shall adopt a plan of conversion stating: the b…

31A-5-601. Duties of officers, directors, agents, and employees. (1) Any officer, director, agent, attorney, or employee upon whom legal process is properly served or who receives notice of any legal action that may affect or involve the property or business of the insurer, shall…

31A-5-602. Doing business in other states. (1) Subject to Subsection, no domestic insurer may do an insurance business in any state in which it does not have a certificate of authority. It may not knowingly solicit in those states in any manner. Advertisements through printed med…

31A-5-701. General reporting requirement. (1) An insurer domiciled in this state shall file a report with the commissioner disclosing any transaction listed in Subsection, unless the transaction has been submitted to the commissioner for review, approval, or information purposes …

31A-5-702. Acquisitions and dispositions of assets. (1) An acquisition or disposition of asset is not subject to the reporting requirements of Sectionif the acquisitions or dispositions are not material. 31A-5-701 For purposes of this part, an acquisition, a disposition, or the a…

31A-5-703. Nonrenewals, cancellations, or revisions of ceded reinsurance agreements. (1) A nonrenewal, cancellation, or revision of ceded reinsurance agreements is not subject to the reporting requirements of Sectionif: 31A-5-701 the nonrenewal, cancellation, or revision is not m…