Section 31A-27a-703 - Partial and final distributions of assets(1)(a) With the approval of the receivership court, a liquidator may declare and pay: (i) one or more partial distributions on claims as those claims are allowed; and(ii) a final distribution.(b) All claims allowed within a priority class shall be paid at substantially the same percentage.(c) A distribution under this section to a guaranty association is not an advance under Section 31A-27a-704.(2) In determining the percentage of distributions to be paid on a claim, the liquidator may consider: (a) the estimated value of the insurer's property, including estimated reinsurance recoverables in connection with the insurer's estimated liabilities for: (i) unpaid losses and loss expenses; and(ii) incurred but not reported losses and loss expenses; and(b) the estimated value of the insurer's liabilities, including estimated liabilities for: (i) unpaid losses and loss expenses; and(ii) incurred but not reported losses and loss expenses.(3) Distribution of property in kind may be made at valuations set by agreement: (a) between the liquidator and the creditor; and(b) as approved by the receivership court.(4)(a) Notwithstanding Subsection (1) and Part 6, Claims, the liquidator may pay benefits under a workers' compensation policy after the day on which the liquidation order is entered if: (i) there is an acceptance of liability by the insurer, and no bona fide dispute exists;(ii) payment is commenced before the entry of the liquidation order; and(iii) future or past indemnity or medical payments are due.(b) A claim payment under this Subsection (4) may continue until the applicable guaranty association: (i) assumes responsibility for the claim payments; or(ii) determines the claim is not a covered claim under its guaranty association law.(c) A claim payment or related expense made under this Subsection (4) may be treated as early access distribution under Section 31A-27a-704 in accordance with an agreement with the guaranty association responsible for the payment.Enacted by Chapter 309, 2007 General Session.