31A-18-107. Disposal of nonqualified assets.
(1) The commissioner may allow a reasonable time, not longer than ten years, for
disposal of any investment which was a qualified asset when made, but which, because of
changes in valuation or changes in the insurer's asset mix, is no longer a qualified asset under
Section 31A-17-201.
(2) The commissioner may allow a reasonable time during which an investment which is
not a qualified asset may be characterized as one, but only if the investment was made by mistake
or if the forced sale of the asset would be contrary to the interests of insureds, creditors, or the
Utah public.
Enacted by Chapter 242, 1985 General Session
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Last revised: Thursday, May 28, 2009