Utah § 49-20-402 - Reserves to be held -- Refunds.

Full text of Utah Utah Code § 49-20-402 — Reserves to be held -- Refunds., with citation guidance and answers to common questions.

§ 49-20-402. Reserves to be held -- Refunds.

49-20-402.  Reserves to be held -- Refunds.
(1) The reserves in a risk pool in a given fiscal year shall be maintained at the level recommended by the program's consulting actuary and approved or ratified by the board. If the reserves drop below that level, covered employers in the risk pool are required to cure any deficiency in the reserve.
(2) If substantial excess reserves are accrued above those required by this chapter, and the board determines that a refund is appropriate, a refund shall be made:
(a) to covered employers which shall then make a refund to covered individuals on the basis of the contribution of each to the plan; or
(b) directly to covered individuals on the basis of the contribution of each to the plan.


Amended by Chapter 130, 2007 General Session

Source: official Utah text · Last verified 2026-08-27

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Frequently Asked Questions About Utah § 49-20-402

What does Utah Code § 49-20-402 cover?

Section 49-20-402 ("Reserves to be held -- Refunds.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Utah § 49-20-402?

A common citation format is "Utah Code § 49-20-402" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Utah law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.

How does Utah § 49-20-402 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Utah.