Utah Admin. Code R590-68-25 - Arbitrage Transactions Under Subsection 31A-5-303(3)
(1) A director or officer of an insurer may
not effect a foreign or domestic arbitrage transaction in an equity security of
an insurer unless the director or officer:
(a)
includes the transaction in the statements required by Subsection
31A-5-303(1);
and
(b) accounts to an insurer for
the profits arising from the transaction as provided in Subsection
31A-5-303(2).
(2) Subsection
31A-5-303(3)
does not apply to an arbitrage transaction.
(3) Section 31A-5-303 does not apply to any
bona fide foreign or domestic arbitrage transaction effected by a person other
than the director or officer of the insurer.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.