Utah Code 31A-27a-406. Notice to creditors and others
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(1) Unless the receivership court otherwise directs, the liquidator shall give or cause to be given notice of the liquidation order as soon as possible:
Terms Used In Utah Code 31A-27a-406
- Application: means a document:(10)(a)(10)(a)(i) completed by an applicant to provide information about the risk to be insured; and(10)(a)(ii) that contains information that is used by the insurer to evaluate risk and decide whether to:(10)(a)(ii)(A) insure the risk under:(10)(a)(ii)(A)(I) the coverage as originally offered; or(10)(a)(ii)(A)(II) a modification of the coverage as originally offered; or(10)(a)(ii)(B) decline to insure the risk; or(10)(b) used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301
- Deadline: means a final date or time:
(44)(a) imposed by:(44)(a)(i) statute;(44)(a)(ii) rule; or(44)(a)(iii) order; and(44)(b) by which a required filing or payment must be received by the department. See Utah Code 31A-1-301- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Filing: when used as a noun, means an item required to be filed with the department including:
(70)(a) a policy;(70)(b) a rate;(70)(c) a form;(70)(d) a document;(70)(e) a plan;(70)(f) a manual;(70)(g) an application;(70)(h) a report;(70)(i) a certificate;(70)(j) an endorsement;(70)(k) an actuarial certification;(70)(l) a licensee annual statement;(70)(m) a licensee renewal application;(70)(n) an advertisement;(70)(o) a binder; or(70)(p) an outline of coverage. See Utah Code 31A-1-301- insurer: means a person who:
(23)(a) is doing, has done, purports to do, or is licensed to do the business of insurance;(23)(b) is or has been subject to the authority of, or to rehabilitation, liquidation, reorganization, supervision, or conservation by an insurance commissioner; or(23)(c) is included under Section 31A-27a-104. See Utah Code 31A-27a-102- License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
- Order: means an order of the commissioner. See Utah Code 31A-1-301
- Person: includes :
(146)(a) an individual;(146)(b) a partnership;(146)(c) a corporation;(146)(d) an incorporated or unincorporated association;(146)(e) a joint stock company;(146)(f) a trust;(146)(g) a limited liability company;(146)(h) a reciprocal;(146)(i) a syndicate; or(146)(j) another similar entity or combination of entities acting in concert. See Utah Code 31A-1-301- Policy: includes all clauses, riders, endorsements, and papers that are a part of a policy. See Utah Code 31A-27a-102
- Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- receivership: means a rehabilitation, liquidation, or ancillary receivership. See Utah Code 31A-27a-102
- receivership court: refers to the court in which a delinquency proceeding is pending. See Utah Code 31A-27a-102
- Record: when used as a noun, means information or data, in whatever form maintained, including:
(36)(a) a book;(36)(b) a document;(36)(c) a paper;(36)(d) a file;(36)(e) an application file;(36)(f) a policyholder list;(36)(g) policy information;(36)(h) a claim or claim file;(36)(i) an account;(36)(j) a voucher;(36)(k) a litigation file;(36)(l) a premium record;(36)(m) a rate book;(36)(n) an underwriting manual;(36)(o) a personnel record;(36)(p) a financial record; or(36)(q) other material. See Utah Code 31A-27a-102- State: means a state, district, or territory of the United States. See Utah Code 31A-27a-102
- United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
(1)(a) by first-class mail or electronic communication as permitted by the receivership court to the following at their last-known address:(1)(a)(i) all of the insurer‘s agents, brokers, or producers of record with a current appointment or current license to represent the insurer; and(1)(a)(ii) all other agents, brokers, or producers that the liquidator considers appropriate;(1)(b) by first-class mail or electronic communication as permitted by the receivership court to:(1)(b)(i) all current policyholders;(1)(b)(ii) all pending claimants; and(1)(b)(iii) as determined by the receivership court, former policyholders and other creditors; and(1)(c) by publication:(1)(c)(i) once in a newspaper of general circulation in:(1)(c)(i)(A) the county in which the insurer has its principal place of business; and(1)(c)(i)(B) other locations that the liquidator considers appropriate; and(1)(c)(ii) as required in Section 45-1-101.(2) The notice of the entry of an order of liquidation shall contain or provide directions for obtaining the following information:(2)(a) a statement that the insurer has been placed in liquidation;(2)(b) a statement:(2)(b)(i) explaining that certain acts are stayed under Section 31A-27a-108; and(2)(b)(ii) describing any additional injunctive relief ordered by the receivership court;(2)(c) a statement whether, and to what extent, the insurer’s policies continue in effect;(2)(d) to the extent applicable, a statement that coverage by guaranty associations may be available for all or part of policy benefits in accordance with applicable state guaranty laws;(2)(e) a statement of:(2)(e)(i) the deadline for filing claims, if established; and(2)(e)(ii) the requirements for filing a proof of claim pursuant to Section 31A-27a-601 on or before that date;(2)(f) a statement of the date, time, and location of any initial status hearing scheduled at the time the notice is sent;(2)(g) a description of the process for obtaining notice of matters before the receivership court; and(2)(h) other information as the liquidator or the receivership court considers appropriate.(3) If notice is given in accordance with this section, the distribution of property of the insurer under this chapter is conclusive with respect to all claimants, whether or not the claimant received notice.(4)(4)(a) Notwithstanding the other provisions of this section, the liquidator has no duty to locate any person if:(4)(a)(i) no address is found in the records of the insurer; or(4)(a)(ii) a mailing is returned to the liquidator because of inability to deliver at the address shown in the insurer’s records.(4)(b) In the circumstances described in Subsection (4)(a), the notice by publication as required by this chapter or actual notice received is sufficient notice.(4)(c) Written certification by the liquidator or other knowledgeable person acting for the liquidator that a notice is deposited in the United States mail, postage prepaid, or that the notice is electronically transmitted is prima facie evidence of mailing and receipt.(4)(d) A claimant has a duty to keep the liquidator informed of any change of address.(5) Notwithstanding Subsection (1):(5)(a) upon application of the liquidator, the receivership court may find that notice by publication as required in this section is sufficient notice to those persons holding an occurrence policy:(5)(a)(i) that expired more than four years before the day on which the order of liquidation is entered; and(5)(a)(ii) under which there are no pending claims; or(5)(b) the receivership court may order other notice to those persons that the receivership court considers appropriate. - Deadline: means a final date or time: