Utah Code § 31A-17-202: Status of assets that are not "qualified assets."

(1)

(a) Except as provided in Subsection (1)(b), if an insurer owns assets that are not qualified assets under Section 31A-17-201, the assets shall be disregarded in determining and reporting the financial condition of the insurer.

(b) An insurer may invest the insurer's funds in investments that are permitted under Section 31A-18-110 but in excess of the limits under Section 31A-18-111 or other assets that the commissioner approves and these assets may be recognized and reported in the financial condition of the insurer to the extent the insurer has excess surplus, as that term is defined under Section 31A-1-301.

(2) Insurers bear the burden of establishing the extent to which they have excess surplus.