Utah Code § 31A-22-419
Insurer's purchase of and loans on policies
Utah · Utah Code Title 31A — Insurance Code · Status: effective
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- Citation
- Utah Code § 31A-22-419, Insurer's purchase of and loans on policies, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2333672
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Full text
Any life insurer may purchase for its own benefit any policy of insurance or other obligation of the company and any claim of its policyholders. The insurer may also lend to the holders of policies of the company a sum which does not exceed the sum of the cash value of the policies and the surplus or dividend additions to the policies. The policies and all additions to them shall be security for payment of the loan. An insurer's security interest in a policy under this section need not be filed under Title 70A, Chapter 9a, Uniform Commercial Code - Secured Transactions, to be perfected.