31A-7-103 - Applicability of other provisions. - Utah Statutes

31A-7-103. Applicability of other provisions.
(1) Except for exemptions specifically granted under this title, nonprofit health serviceinsurance corporations organized or operating under this chapter are subject to all of theprovisions of this title.
(2) Nonprofit health service corporations are exempt from the provisions of Chapter 5except where sections or parts are specifically referenced and made applicable in this chapter, inwhich case the referenced provisions under Chapter 5 that apply to mutual corporations apply tononprofit health service insurance corporations.
(3) Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act, and Title 16, Chapter10a, Utah Revised Business Corporation Act, do not apply to nonprofit health service insurancecorporations except as specifically made applicable by:
(a) this chapter;
(b) a provision adopted by reference under this chapter; or
(c) a rule adopted by the commissioner to deal with corporate law issues of nonprofithealth service insurance corporations which are not settled under this chapter.
(4) Any insurer authorized under this chapter that is not in compliance with the applicablecapital and surplus requirements, yet has assets in excess of its liabilities, has until July 1, 1988,to comply with the applicable capital and surplus requirements. One-half of any shortage incapital and surplus on July 1, 1986, shall be remedied by July 1, 1987.

Amended by Chapter 300, 2000 General Session