Section 31A-28-102 - Purpose(1) The purpose of this part is to protect, subject to certain limitations, the persons specified in Subsections 31A-28-103(1) through (5) against failure in the performance of contractual obligations, under a life insurance, accident and health insurance, or annuity policy or contract specified in Subsections 31A-28-103(6) and (7), because of the impairment or insolvency of the member insurer that issued the policy or contract.(2) To provide the protection described in Subsection (1): (a) the Utah Life and Health Insurance Guaranty Association, which currently exists, is continued to pay benefits and to continue coverages as limited by this part; and(b) members of the association are subject to assessment to provide funds to carry out the purpose of this part.Amended by Chapter 391, 2018 General Session ,§ 5, eff. 1/1/2019.Amended by Chapter 116, 2001 General Session
Amended by Chapter 161, 2001 General Session.