reglab/housing_qa huggingface dataset:
UT Code § 31A-27a-506 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 5 - Asset Recovery|Section 506 - Fraudulent transfers and obligations.

31A-27a-506. Fraudulent transfers and obligations.    (1) For purposes of this section:   (a) A "transfer":   (i) is made when the transfer is so perfected that a bona fide purchaser from the insurer against whom applicable law permits the transfer to be perfected cannot acquire an interest in the property transferred that is superior to the interest in the property of the transferee; or     (ii) if the transfer is not perfected as provided in Subsection (1)(a)(i) before the commencement of the delinquency proceeding, is considered made immediately before the day on which the initial filing of the petition commencing delinquency proceedings is filed.       (b) "Value" means property or satisfaction or securing of a present or antecedent debt of the insurer.       (2)   (a) If the conditions of Subsection (2)(b) are met, the receiver may avoid the following:   (i) a transfer of an interest of the insurer in property;     (ii) a reinsurance transaction; or     (iii) an obligation incurred by an insurer.       (b) Subsection (2)(a) applies if:   (i) the transfer or obligation is made or incurred on or within two years before the day on which the initial filing of a petition commencing delinquency proceedings is filed under this chapter; and     (ii) the insurer voluntarily or involuntarily:   (A) makes the transfer or incurs the obligation with actual intent to hinder, delay, or defraud a person to which the insurer is or becomes indebted on or after the day on which the transfer is made or the obligation is incurred; or     (B) receives less than a reasonably equivalent value in exchange for the transfer or obligation.           (3) Except to the extent that a transfer or obligation voidable under this section is voidable under other provisions of this chapter, a transferee or obligee of a transfer or obligation voidable under this section that takes for value and in good faith:   (a) as the case may be:   (i) has a lien on or may retain any interest transferred; or     (ii) may enforce any obligation incurred; and       (b) to the extent that the transferee or obligee gave value to the insurer in exchange for the transfer or obligation.       (4) If a reinsurance transaction is avoided under this section:   (a) the receiver shall tender to the reinsurer the value of any consideration transferred to the insurer in connection with the transaction less the amount of matured and liquidated liabilities owing by the reinsurer to the estate; and     (b) the parties shall be returned to their relative positions before the implementation of the transaction avoided.      Enacted by Chapter 309, 2007 General Session
UT Code § 31A-27a-507 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 5 - Asset Recovery|Section 507 - Receiver as lien creditor.

 Effective 5/9/2017  31A-27a-507. Receiver as lien creditor.    (1) The receiver may avoid a transfer of or lien on the property of, or obligation incurred by, an insurer that the insurer or a policyholder, creditor, member, or stockholder of the insurer:   (a) may have avoided without regard to any knowledge of:   (i) the receiver;     (ii) the commissioner;     (iii) the insurer; or     (iv) a policyholder, creditor, member, or stockholder of the insurer; and       (b) whether or not a policyholder, creditor, member, or stockholder described in this Subsection (1) exists.       (2) The receiver is considered a creditor without knowledge for purposes of pursuing claims under:   (a)Title 25, Chapter 6, Uniform Voidable Transactions Act; or     (b) similar provisions of state or federal law.      Amended by Chapter 204, 2017 General Session
UT Code § 31A-27a-508 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 5 - Asset Recovery|Section 508 - Liability of transferee.

31A-27a-508. Liability of transferee.    (1) Except as otherwise provided in this section, to the extent that the receiver obtains an order pursuant to Section 31A-27a-501, or avoids a transfer under Section 31A-27a-502, 31A-27a-503, 31A-27a-504, 31A-27a-506, or 31A-27a-507, the receiver may recover the property transferred, or the value of the property, from:   (a) the initial transferee of the transfer or the entity for whose benefit the transfer is made; or     (b) subject to Subsection (2), an immediate or mediate transferee of the initial transferee.       (2) The receiver may not recover under Subsection (1)(b) from:   (a) a transferee that takes for value, including satisfaction or securing of a present or antecedent debt:   (i) in good faith; and     (ii) without knowledge of the voidability of the transfer avoided; or       (b) an immediate or mediate good faith transferee of the transferee.       (3) A transfer avoided in accordance with this chapter is preserved for the benefit of the receivership estate, but only with respect to property of the insurer.     (4) In addition to the remedies specifically provided in Sections 31A-27a-501, 31A-27a-502, 31A-27a-503, 31A-27a-504, 31A-27a-506, and 31A-27a-507 and Subsection (1), if the receiver is successful in establishing a claim to the property or any part of the property, the receiver may recover judgment for the following:   (a) rental for the use of tangible property from the later of:   (i) the day on which the receivership order is entered; or     (ii) the date of the transfer; and       (b) in the case of funds or intangible property:   (i) the greater of:   (A) the actual interest;     (B) income earned by the property; or     (C) interest at the statutory rate for judgments; and       (ii) from the later of:   (A) the day on which the receivership order is entered; or     (B) the date of the transfer.           (5) In an action pursuant to this section, the receivership court may allow the receiver to seek recovery of the property involved or its value.     (6) In an action pursuant to Sections 31A-27a-501, 31A-27a-502, 31A-27a-503, 31A-27a-504, 31A-27a-506, 31A-27a-507, and 31A-27a-510:   (a) the receiver has the burden of proving the avoidability of a transfer; and     (b) the person against whom recovery or avoidance is sought has the burden of proving the nature and extent of any affirmative defense.      Enacted by Chapter 309, 2007 General Session
UT Code § 31A-27a-509 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 5 - Asset Recovery|Section 509 - Claims of holders of void or voidable rights.

31A-27a-509. Claims of holders of void or voidable rights.    (1)   (a) The receiver may disallow a claim of a creditor who receives or acquires a preference, lien, conveyance, transfer, assignment, or encumbrance voidable under this chapter, unless the creditor surrenders the preference, lien, conveyance, transfer, assignment, or encumbrance.     (b) If an avoidance is effected by a proceeding in which a final judgment is entered, a creditor's claim is not allowed unless the money is paid or the property is delivered to the receiver within 30 days from the day on which the final judgment is entered, except that the receivership court may allow further time if there is an appeal or other continuation of the proceeding.       (2) A claim allowable under Subsection (1) by reason of an avoidance, whether voluntary or involuntary, or a preference, lien, conveyance, transfer, assignment, or encumbrance, may be filed as an excused late filing under Subsection 31A-27a-601(2) if filed within:   (a) 30 days from the date of the avoidance; or     (b) the further time allowed by the receivership court under Subsection (1).      Enacted by Chapter 309, 2007 General Session
UT Code § 31A-27a-510 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 5 - Asset Recovery|Section 510 - Setoffs.

31A-27a-510. Setoffs.    (1)   (a) A mutual debt or mutual credit shall be set off and the balance only allowed or paid:   (i) whether arising out of one or more contracts between the insurer and another person in connection with an action or proceeding under this chapter; and     (ii) except as provided in Subsection (2) and Sections 31A-27a-513 and 31A-27a-514.       (b) An obligation arising out of the termination of a life, disability income, or long-term care reinsurance contract pursuant to Section 31A-27a-513 may be set off against other debts and credits arising out of a contract between the insurer and the reinsurer.       (2)   (a) A setoff is not allowed after the commencement of a delinquency proceeding under this chapter in favor of any person if:   (i) the claim against the insurer is disallowed;     (ii) the claim against the insurer is purchased by or transferred to the person:   (A) on or after the day on which the receivership petition is filed; or     (B) within 120 days preceding the day on which the receivership petition is filed;       (iii) the obligation of the insurer is owed to an affiliate or entity other than the person, absent written assignment of the obligation made more than 120 days before the day on which the petition for receivership is filed;     (iv) the obligation of the person is owed to an affiliate or entity other than the insurer, absent written assignment of the obligation made more than 120 days before the day on which the petition for receivership is filed;     (v) the obligation of the person is:   (A) to pay:   (I) an assessment levied against a member or subscriber of the insurer; or     (II) a balance upon a subscription to the capital stock of the insurer; or       (B) in any other way in the nature of a capital contribution;       (vi) an obligation between the person and the insurer arises out of a transaction by which either the person or the insurer:   (A) assumes a risk or obligation from the other party; and     (B) then cedes back to that party substantially the same risk or obligation;       (vii) the obligation of the person arises out of an avoidance action taken by the receiver; or     (viii) the obligation of the insured is for the payment of earned premiums or retrospectively rated earned premiums in accordance with Section 31A-27a-514.       (b) Notwithstanding Subsection (2)(a)(vi), the receiver may permit a setoff if, in the receiver's discretion, a setoff is appropriate because of specific circumstances relating to a transaction.       (3) The receiver may avoid pursuant to Sections 31A-27a-504, 31A-27a-506, and 31A-27a-507 and subject to defenses under those sections, a setoff that occurs before the commencement of the delinquency proceeding under this chapter if the setoff would otherwise be disallowed pursuant to Subsection (2).    Enacted by Chapter 309, 2007 General Session
UT Code § 31A-27a-602 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 6 - Claims|Section 602 - Proof of claim.

31A-27a-602. Proof of claim.    (1) Proof of claim shall consist of a statement signed by the claimant or on behalf of the claimant that includes all of the following that are applicable:   (a) the particulars of the claim including the consideration given for the claim;     (b) the identity and amount of the security on the claim;     (c) the payments made on the debt, if any;     (d) that the sum claimed is justly owing and there is no setoff, counterclaim, or defense to the claim;     (e) any right of priority of payment or other specific right asserted by the claimant;     (f) the name and address of the claimant and the attorney, if any, who represents the claimant; and     (g) the claimant's Social Security number or federal employer identification number.       (2) The liquidator may require that:   (a) a prescribed form be used under this section; and     (b) other information and documents be included.       (3) At any time the liquidator may:   (a) require the claimant to present information or evidence supplementary to that required under Subsection (1);     (b) take testimony under oath;     (c) require production of one or more affidavits or depositions; or     (d) otherwise obtain additional information or evidence.       (4)   (a) An affected guaranty association may file a single omnibus proof of claim for all claims of the affected guaranty association in connection with payment of claims of the insurer.     (b) The omnibus proof of claim may be periodically updated by the affected guaranty association without regard to the deadline specified in Subsection 31A-27a-601(1).     (c) An affected guaranty association may be required to submit a reasonable amount of documentation in support of the claim.      Enacted by Chapter 309, 2007 General Session
UT Code § 31A-27a-604 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 6 - Claims|Section 604 - Claims under an occurrence policy, surety bond, surety undertaking.

31A-27a-604. Claims under an occurrence policy, surety bond, surety undertaking.    (1) Subject to Section 31A-27a-603, an insured may file a claim for the protection afforded under the insured's policy, irrespective of whether a claim is known at the time of filing, if the policy is an occurrence policy.     (2) Subject to Section 31A-27a-603, an obligee may file a claim for the protection afforded under a surety bond or a surety undertaking issued by the insurer as to which the obligee is the beneficiary, irrespective of whether a claim is known at the time of filing.     (3) After a claim is filed under Subsection (1) or (2), when a specific claim is made by or against the insured or by the obligee:   (a) the insured or the obligee shall supplement the claim; and     (b) the receiver shall treat the claim as a contingent or unliquidated claim under Section 31A-27a-605.      Enacted by Chapter 309, 2007 General Session
UT Code § 31A-27a-607 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 6 - Claims|Section 607 - Disputed claims.

31A-27a-607. Disputed claims.    (1)   (a) When a claim is disallowed in whole or in part by the liquidator, written notice of the determination and of the right to object shall be given promptly to the claimant or the claimant's attorney of record, if any, by first-class mail at the addresses shown in the proof of claim.     (b)   (i) Within 45 days from the day on which the notice required by Subsection (1)(a) is mailed, the claimant may file an objection with the liquidator.     (ii) If an objection is not filed within the period provided in Subsection (1)(b)(i), the claimant may not further object to the determination.         (2)   (a) If an objection is filed in accordance with Subsection 31A-27a-603(3)(a) and the liquidator does not alter the liquidator's ruling, the liquidator shall ask the court for a hearing as soon as practicable.     (b) If the liquidator asks for a hearing under Subsection (2)(a), the court shall issue an order setting a date as early as possible.     (c) At the request of the liquidator, the court may establish procedures for the objections hearing.     (d) The liquidator shall give notice of a hearing under this Subsection (2) by first-class mail to:   (i) the claimant or the claimant's attorney; and     (ii) any other persons directly affected.       (e) A hearing under this Subsection (2):   (i) shall be heard without a jury; and     (ii) may be heard by:   (A) the court; or     (B) a court appointed referee.         (f) A hearing under this Subsection (2) shall be limited to the evidence upon which the liquidator made the determination of the claim.     (g) If a referee is appointed under this Subsection (2), the referee shall submit to the court:   (i) findings of fact;     (ii) recommendations; and     (iii) a transcript of the hearing.       (h) The court shall review the referee's findings of fact and recommendations for correctness by reviewing the record, including the hearing transcript.     (i) Consistent with Section 31A-27a-608, the court may approve, disapprove, or modify:   (i) the liquidator's determination of a claim; or     (ii) a referee's recommendations on a claim.         (3) A court order issued after a hearing and pursuant to this section may be appealed as a final order for purposes of Rule 54, Utah Rules of Civil Procedure.     (4) This section is not applicable to a dispute with respect to a coverage determination by an affected guaranty association as part of the affected guaranty association's statutory obligations.    Enacted by Chapter 309, 2007 General Session
UT Code § 31A-27a-608 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 6 - Claims|Section 608 - Liquidator's recommendations to the receivership court.

 Effective 5/8/2018  31A-27a-608. Liquidator's recommendations to the receivership court.    (1) The liquidator shall, from time to time as determined by the liquidator, present to the receivership court for approval, reports of claims settled or determined by the liquidator under Section 31A-27a-603.     (2) A report required by this section shall include information identifying:   (a) the claim;     (b) the amount of the claim; and     (c) the priority class of the claim.       (3)   (a) A claim included in a report described in this section and approved by the receivership court is a liability of the estate.     (b) An insurer's insolvency does not affect the amount of a liability described in Subsection (3)(a), regardless of any provision in an agreement to the contrary.      Amended by Chapter 319, 2018 General Session
UT Code § 31A-27a-609 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 6 - Claims|Section 609 - Claims of codebtor.

31A-27a-609. Claims of codebtor.  If a creditor does not timely file a proof of the creditor's claim, the following may file a proof of the claim:  (1) a person who is liable to the creditor together with the insurer; or     (2) a person who has secured the creditor.    Enacted by Chapter 309, 2007 General Session
UT Code § 31A-27a-702 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 7 - Distributions|Section 702 - Health maintenance organization claims.

 Effective 1/1/2019  31A-27a-702. Health maintenance organization claims.    (1) For a delinquency proceeding under this chapter that is initiated before May 8, 2018, in the liquidation of a health maintenance organization, a claim for uncovered expenditures has priority over a Class 3 claim as provided for in Section 31A-27a-701.     (2) A claim other than one described in Subsection (1) shall follow the priority of distribution outlined in Section 31A-27a-701.    Amended by Chapter 391, 2018 General Session
UT Code § 31A-27a-703 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 7 - Distributions|Section 703 - Partial and final distributions of assets.

31A-27a-703. Partial and final distributions of assets.    (1)   (a) With the approval of the receivership court, a liquidator may declare and pay:   (i) one or more partial distributions on claims as those claims are allowed; and     (ii) a final distribution.       (b) All claims allowed within a priority class shall be paid at substantially the same percentage.     (c) A distribution under this section to a guaranty association is not an advance under Section 31A-27a-704.       (2) In determining the percentage of distributions to be paid on a claim, the liquidator may consider:   (a) the estimated value of the insurer's property, including estimated reinsurance recoverables in connection with the insurer's estimated liabilities for:   (i) unpaid losses and loss expenses; and     (ii) incurred but not reported losses and loss expenses; and       (b) the estimated value of the insurer's liabilities, including estimated liabilities for:   (i) unpaid losses and loss expenses; and     (ii) incurred but not reported losses and loss expenses.         (3) Distribution of property in kind may be made at valuations set by agreement:   (a) between the liquidator and the creditor; and     (b) as approved by the receivership court.       (4)   (a) Notwithstanding Subsection (1) and Part 6, Claims, the liquidator may pay benefits under a workers' compensation policy after the day on which the liquidation order is entered if:   (i) there is an acceptance of liability by the insurer, and no bona fide dispute exists;     (ii) payment is commenced before the entry of the liquidation order; and     (iii) future or past indemnity or medical payments are due.       (b) A claim payment under this Subsection (4) may continue until the applicable guaranty association:   (i) assumes responsibility for the claim payments; or     (ii) determines the claim is not a covered claim under its guaranty association law.       (c) A claim payment or related expense made under this Subsection (4) may be treated as early access distribution under Section 31A-27a-704 in accordance with an agreement with the guaranty association responsible for the payment.      Enacted by Chapter 309, 2007 General Session
UT Code § 31A-27a-801 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 8 - Discharge|Section 801 - Condition on release from delinquency proceedings.

31A-27a-801. Condition on release from delinquency proceedings.    (1) Unless otherwise provided in a plan approved by the guaranty associations, an insurer that is subject to a rehabilitation proceeding may not take an action listed in Subsection (2) until all payments by all guaranty associations of or on account of the insurer's contractual obligations are repaid to the guaranty associations with:   (a) all expenses related to the payments by all guaranty associations of or on account of the insurer's contractual obligations; and     (b) interest on all the payments.       (2) Until an insurer that is subject to a rehabilitation proceeding complies with Subsection (1), the insurer may not:   (a) be permitted to:   (i) solicit or accept new business; or     (ii) request or accept the restoration of any suspended or revoked license or certificate of authority;       (b) be returned to the control of its shareholders or private management; or     (c) have any of its assets returned to the control of its shareholders or private management.      Enacted by Chapter 309, 2007 General Session
UT Code § 31A-27a-802 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 8 - Discharge|Section 802 - Discharge of liquidator and termination of liquidation proceedings.

31A-27a-802. Discharge of liquidator and termination of liquidation proceedings.    (1) When all property justifying the expense of collection and distribution is collected and distributed under this chapter, the liquidator shall apply to the receivership court for an order discharging the liquidator and terminating the proceeding.     (2) The receivership court may grant the application and make any other orders, including orders to:   (a) transfer any remaining funds that are uneconomic to distribute; or     (b) pursuant to Subsection 31A-27a-703(3), assign an asset that remains unliquidated, including a claim or cause of action, as may be considered appropriate.      Enacted by Chapter 309, 2007 General Session
UT Code § 31A-27a-803 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 27a - Insurer Receivership Act|Part 8 - Discharge|Section 803 - Reopening liquidation.

31A-27a-803. Reopening liquidation.    (1) After a liquidation proceeding is terminated and the liquidator discharged, the commissioner may at any time petition the court that was the receivership court to reopen the proceedings for good cause, including the discovery of additional property.     (2) If the court is satisfied that there is justification for reopening the proceedings, the court shall order the proceedings reopened.    Enacted by Chapter 309, 2007 General Session