Utah Code 31A-18-108. Investment of excess surplus
Current as of: 2024 | Check for updates
|
Other versions
(1) If an insurer has excess surplus, as defined under Section 31A-1-301, then to the extent of its excess surplus, the insurer may invest in a manner inconsistent with the limitations of Section 31A-18-106 or in other assets approved by the commissioner.
Terms Used In Utah Code 31A-18-108
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Excess surplus: means :(186)(c)(i) for a life insurer, accident and health insurer, health organization, or property and casualty insurer as defined in Section
31A-17-601 , the lesser of:(186)(c)(i)(A) that amount of an insurer's or health organization's total adjusted capital that exceeds the product of:(186)(c)(i)(A)(I) 2. See Utah Code 31A-1-301- Surplus: means the excess of assets over the sum of paid-in capital and liabilities. See Utah Code 31A-1-301
(2) This section does not empower any insurer to make investments that are:(2)(a) illegal; or(2)(b) prohibited under Section 31A-4-107.(3) Each insurer has the burden of establishing the extent of its excess surplus.