Section 305 - Contributions to guaranty or insolvency fund prohibited.

UT Code § 31A-37-305 (2019) (N/A)
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(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.

(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.

(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.