Effective 5/13/2014 31A-27a-201. Receivership court’s seizure order. (1) The commissioner may file in the Third District Court for Salt Lake County a petition: (a) with respect to: (i) an insurer domiciled in this state; (ii) an unauthorized insurer; or (iii) pursuant to Section 31A-27a-901, a foreign insurer; (b) alleging that: (i) there exists grounds that […]
31A-27a-202. Commencement of formal delinquency proceeding. (1) A formal delinquency proceeding against a person shall be commenced by filing a petition in the name of the commissioner or department. (2) (a) The petition required by Subsection (1): (i) shall state: (A) the grounds upon which the proceeding is based; and (B) the relief requested; and […]
31A-27a-203. Return of summons and summary hearing. (1) The receivership court shall hold a summary hearing at the time and date for the return of summons on a petition to commence a formal delinquency proceeding. (2) If a person is not served with summons on a petition to commence a formal delinquency proceeding and fails […]
31A-27a-204. Proceedings for expedited trial — Continuance — Evidence — Discovery. (1) (a) The receivership court shall proceed to hear the case on the petition to commence a formal delinquency proceeding: (i) at the time and date set forth for trial; (ii) without a jury; and (iii) without unnecessary delay. (b) To the extent practicable, […]
31A-27a-205. Decision and appeals. (1) The receivership court shall enter judgment on the petition to commence formal delinquency proceeding within 15 days after the day on which the evidence is concluded. (2) (a) An order entered pursuant to Subsection (1) is final when entered. (b) An appeal shall be: (i) handled on an expedited basis; […]
31A-27a-206. Confidentiality. (1) (a) Except as provided in Subsection (1)(b), in a delinquency proceeding or a judicial review under Section 31A-27a-201: (i) all records of the insurer, department files, court records and papers, and other documents, so far as they pertain to or are a part of the record of the proceedings, are confidential; and […]
31A-27a-207. Grounds for rehabilitation or liquidation. (1) The commissioner may file in the Third District Court for Salt Lake County a petition with respect to an insurer domiciled in this state or an unauthorized insurer for an order of rehabilitation or liquidation on any one or more of the following grounds: (a) the insurer is […]
31A-27a-208. Entry of order. (1) If the commissioner establishes any of the grounds provided in Section 31A-27a-207, the receivership court shall: (a) grant the petition; and (b) issue the order of rehabilitation or liquidation requested in the petition. (2) Upon the issuance of the order, the commissioner shall forward a copy of the order by […]
31A-27a-209. Effect of order of rehabilitation or liquidation. (1) The filing or recording of an order of receivership with the following imparts the same notice as a deed, bill of sale, or other evidence of title filed or recorded would have imparted: (a) the Third District Court for Salt Lake County; (b) the recorder of […]
