1. (1) The purpose of this rule is to:

   1. (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
   2. (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. (2) This rule applies to:

   1. (a) a domestic insurance company;
   2. (b) a national bank;
   3. (c) a state bank;
   4. (d) a trust company; and
   5. (e) a broker/dealer.

KEY: insurance law

Date of Last Change: August 8, 2022

Notice of Continuation: July 14, 2021

Authorizing, and Implemented or Interpreted Law: 31A-4-108