Utah Admin. Code 590-178-2

Current through Bulletin 2024-24, December 15, 2024

Section R590-178-2 - Purpose and Scope

(1) The purpose of this rule is to:

(a) authorize a domestic insurance company to use a modern system for holding and transferring a security without physical delivery of a security certificate; and

(b) establish standards for a person in Subsection (2)(b) through (2)(e) to qualify and operate as a custodian for insurance company securities.

(2) This rule applies to:

(a) a domestic insurance company;

(b) a national bank;

(c) a state bank;

(d) a trust company; and

(e) a broker/dealer.

Utah Admin. Code R590-178-2

Amended by Utah State Bulletin Number 2022-16, effective 8/8/2022