31A-22-1305 - Persons authorized to issue annuities. - Utah Statutes

31A-22-1305. Persons authorized to issue annuities.
No person may issue an annuity to another person unless the issuer is:
(1) an insurer authorized to issue annuities under Chapter 5, 9, or 14;
(2) a domestic corporation created under Title 16, Chapter 6a, Utah Revised NonprofitCorporation Act, or other applicable law, or a foreign corporation conducted without profit,which is engaged solely in bona fide charitable, religious, missionary, educational, medical, orphilanthropic activities; or
(3) a natural person who issues an annuity to his spouse, children, grandchildren,great-grandchildren, parents, grandparents, uncles, aunts, brothers, sisters, nieces, or nephews,whether those relationships are by birth, marriage, or legal adoption.

Amended by Chapter 300, 2000 General Session