31A-4-109 - Insurers as fundholders. - Utah Statutes

31A-4-109. Insurers as fundholders.
All of an insurer's assets shall be held, invested, and disbursed for the use and benefit ofthe insurer. No policyholder, member, or beneficiary may have or acquire individual rights inthese assets or become entitled to an apportionment or the surrender of any part of these assets,except as provided in this title or by contract. An insurer may create, maintain, invest, disburse,and apply any special funds necessary to carry out any purpose permitted by the laws of this stateand the articles and bylaws of the insurer.

Amended by Chapter 204, 1986 General Session