Utah Code § 31A-5-508
Transfer of business or assets
Utah · Utah Code Title 31A — Insurance Code · Status: effective
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- Citation
- Utah Code § 31A-5-508, Transfer of business or assets, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2333133
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Full text
(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, 16-10a-1330, and 16-10a-1331 apply to stock corporations. In the sale, lease, exchange, or mortgage of assets, Section 16-6a-1201 applies to mutuals.
(2) Chapter 16, Insurance Holding Companies, applies to:
(a) the sale of a domestic insurer's assets or book of business, other than in the ordinary course of business; or
(b) the insurer entering into contracts of reinsurance which have substantially the same effect as a merger.