{"data":{"id":"us-ut/utah-code-31a-27a-503","jurisdiction":"us-ut","citation":"Utah Code § 31A-27a-503","heading":"Unauthorized postpetition transfers.","body":"(1) Except as otherwise provided in this section, the receiver may avoid a transfer of an interest of the insurer in property, or an obligation incurred by the insurer, that is:\n(a) made or incurred after the day on which a petition for receivership is filed; and\n(b) not authorized by the receiver and approved by the receivership court.\n(2) Except to the extent that a transfer or obligation voidable under this section is otherwise voidable under this chapter, a transferee or obligee of a transfer or obligation described in Subsection (1) has a lien on or may retain, at the option of the receivership court, an interest transferred or may enforce an obligation incurred, as the case may be:\n(a) if the transferee or obligee takes it for value and in good faith; and\n(b) to the extent that the transferee or obligee gave value to the insurer in exchange for the transfer or obligation.","path":["Title 31A Insurance Code","Chapter 31A-27a Insurer Receivership Act","Part 31A-27a-5 Asset Recovery"],"source_url":"https://le.utah.gov/xcode/Title31A/Chapter27a/31A-27a-S503.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"a4fa5e333a5427b31dddc9f62458c907c938cfed02ce0865fb48dffa79ff1822","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-31a-27a-502","next":"us-ut/utah-code-31a-27a-504"},"notice":"GroundRules: Original legal text. Not legal advice."}