{"data":{"id":"us-ut/utah-code-31a-37-502","jurisdiction":"us-ut","citation":"Utah Code § 31A-37-502","heading":"Examination.","body":"(1)\n(a) As provided in this section, the commissioner, or a person appointed by the commissioner, may examine each captive insurance company at least once every five years, or more frequently if the commissioner determines a more frequent examination is prudent.\n(b) The five-year period described in Subsection (1)(a) shall be determined on the basis of five full annual accounting periods of operation.\n(c) The examination is to be made as of:\n(i) December 31 of the full five-year period; or\n(ii) the last day of the month of an annual accounting period authorized for a captive insurance company under this section.\n(2) During an examination under this section the commissioner, or a person appointed by the commissioner, shall thoroughly inspect and examine the affairs of the captive insurance company to ascertain all or any combination of the following:\n(a) the financial condition of the captive insurance company;\n(b) the ability of the captive insurance company to fulfill the insurance policy obligations of the captive insurance company; and\n(c) whether the captive insurance company has complied with this chapter.\n(3) A captive insurance company that is inspected and examined under this section shall pay, as provided in Subsection 31A-37-201(6)(b), the expenses and charges of an inspection and examination.","path":["Title 31A Insurance Code","Chapter 31A-37 Captive Insurance Companies Act","Part 31A-37-5 Department Enforcement"],"source_url":"https://le.utah.gov/xcode/Title31A/Chapter37/31A-37-S502.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"a4afbaf07c184283c029c1b3d3793bd61d72c54406abf540e096b679213b5ed0","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-31a-37-501","next":"us-ut/utah-code-31a-37-503"},"notice":"GroundRules: Original legal text. Not legal advice."}