Material transactions by insurers which are part of holding company system.

1. Law
2. Utah Code
3. Insurance Code
4. Health Maintenance Organizations and Limited Health Plans
5. Domestic Organizations
6. Material transactions by insurers which are part of holding company system.

• (1) This section applies to an insurer licensed under this chapter that is part of a holding company system, for purposes of:
  • (a) the reporting requirements of Section 31A-16-105; and
  • (b) the material transaction standards of Section 31A-16-106.

• (2) Unless otherwise provided by rule, a transaction is not material under Subsection 31A-16-105(4) if the transaction involves an amount:
  • (a) of not more than:
    • (i) 10% for each transaction; or
    • (ii) 20% for cumulative transactions during any one calendar year; and
  • (b) calculated:
    • (i) on the basis of the organization's surplus requirement, determined in accordance with Section 31A-5-211; and
    • (ii) as of December 31 of the year immediately preceding the transaction.

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