Title 31A, Insurance Code

31A-5-503. Merger and consolidation of mutuals. Any two or more mutuals may merge or consolidate, under the procedures set forth under Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act. All mergers of mutuals are subject to Chapter 16, Insurance Holding Companies.

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

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)(a) Except as provided in Subsection (1)(b), a domestic mutual may be converted into a domestic stock corporation under Subsections (2) through (11). (b) A domestic mutual that is affiliated with other mutual…

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 16-10a-1201, 16-10a-1202, 16-10a-1320 through 16-10a-1328, 1…

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 Chapter 9, Insurance Fraternals, in the following manner: (1) The board of directors of the company shall adopt a p…

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 (2), 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…

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 (2), unless the transaction has been submitted to the commissioner for review, approval, or information purpo…

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

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