31A-9-212 - Separate accounts and subsidiaries.
31A-9-212. Separate accounts and subsidiaries.
(1) Except as provided in Subsections (2) and (3), Sections 31A-5-217 and 31A-5-218apply to separate accounts and subsidiaries of fraternals. If a fraternal issues contracts on avariable basis, Subsections 31A-22-902(2) and (6) and 31A-9-209(2) do not apply, except thatSubsection 31A-9-209(2) applies to any benefits contained in the variable contracts which arefixed or guaranteed dollar amounts.
(2) If a fraternal engages in any insurance business other than life, accident and health,annuities, property, or liability insurance, it shall do so through a subsidiary under Section31A-5-218.
(3) (a) A local lodge may incorporate under Title 16, Chapter 6a, Utah Revised NonprofitCorporation Act, or the corresponding law of the state where it is located, to carry out thenoninsurance activities of the local lodge.
(b) Corporations may be formed under Title 16, Chapter 6a, Utah Revised NonprofitCorporation Act, to implement Subsection 31A-9-602(2).
Amended by Chapter 116, 2001 General Session