{"data":{"id":"us-ut/utah-code-31a-27a-703","jurisdiction":"us-ut","citation":"Utah Code § 31A-27a-703","heading":"Partial and final distributions of assets.","body":"(1)\n(a) With the approval of the receivership court, a liquidator may declare and pay:\n(i) one or more partial distributions on claims as those claims are allowed; and\n(ii) a final distribution.\n(b) All claims allowed within a priority class shall be paid at substantially the same percentage.\n(c) A distribution under this section to a guaranty association is not an advance under Section 31A-27a-704.\n(2) In determining the percentage of distributions to be paid on a claim, the liquidator may consider:\n(a) the estimated value of the insurer's property, including estimated reinsurance recoverables in connection with the insurer's estimated liabilities for:\n(i) unpaid losses and loss expenses; and\n(ii) incurred but not reported losses and loss expenses; and\n(b) the estimated value of the insurer's liabilities, including estimated liabilities for:\n(i) unpaid losses and loss expenses; and\n(ii) incurred but not reported losses and loss expenses.\n(3) Distribution of property in kind may be made at valuations set by agreement:\n(a) between the liquidator and the creditor; and\n(b) as approved by the receivership court.\n(4)\n(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:\n(i) there is an acceptance of liability by the insurer, and no bona fide dispute exists;\n(ii) payment is commenced before the entry of the liquidation order; and\n(iii) future or past indemnity or medical payments are due.\n(b) A claim payment under this Subsection (4) may continue until the applicable guaranty association:\n(i) assumes responsibility for the claim payments; or\n(ii) determines the claim is not a covered claim under its guaranty association law.\n(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.","path":["Title 31A Insurance Code","Chapter 31A-27a Insurer Receivership Act","Part 31A-27a-7 Distributions"],"source_url":"https://le.utah.gov/xcode/Title31A/Chapter27a/31A-27a-S703.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"64e7da826fc0977ad387310630016a23ca21633d936c28e1ee49fbc9ef0c42fd","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-31a-27a-702","next":"us-ut/utah-code-31a-27a-704"},"notice":"GroundRules: Original legal text. Not legal advice."}