Utah Code 31A-17-404.4. Transition — Application to reinsurance agreement
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Terms Used In Utah Code 31A-17-404.4
- Contract: A legal written agreement that becomes binding when signed.
- Reinsurance: means an insurance transaction where an insurer, for consideration, transfers any portion of the risk it has assumed to another insurer. See Utah Code 31A-1-301
The amendments to this part made in Laws of Utah 2008, Chapter 257, apply to a cession made on or after July 1, 2008 under a reinsurance contract that has an inception, anniversary, or renewal date no sooner than January 1, 2009.
Enacted by Chapter 257, 2008 General Session