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Utah Code § 31A-37-305

Contributions to guaranty or insolvency fund prohibited

Amended by Chapter 168, 2017 General Session

(1) A captive insurance company may not join or contribute financially to any of the following in this state:

(a) a plan;

(b) a pool;

(c) an association;

(d) a guaranty fund; or

(e) an insolvency fund.

(2) A captive insurance company, the insured of a captive insurance company, the parent of a captive insurance company, an affiliate of a captive insurance company, or a member organization of an association captive insurance company may not receive a benefit from:

(a) a plan;

(b) a pool;

(c) an association;

(d) a guaranty fund for claims arising out of the operations of the captive insurance company; or

(e) an insolvency fund for claims arising out of the operations of the captive insurance company.

Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.