Utah Administrative Code
Topic - Insurance
Title R590 - Administration
Rule R590-273 - Continuing Care Provider Rule
Section R590-273-7 - Market Value of Land and Infrastructure Improvements in Rehabilitation or Liquidation
Universal Citation: UT Admin Code R 590-273-7
Current through Bulletin 2024-06, March 15, 2024
To determine the market value of land and infrastructure improvements under an order of rehabilitation or liquidation pursuant to Subsection 31A-44-502(2)(d) or 31A-44-503(4)(e), the commissioner shall:
(1) consider the most probable price, as of a specified date, that the land and infrastructure improvements owned in fee by the ground lesser should sell for:
(a) after reasonable exposure in a
competitive market;
(b) under all
conditions of a fair sale;
(c) with
the buyer and seller each acting prudently, knowledgeably, and in their
self-interest; and
(d) assuming
neither buyer nor seller acts under duress;
(2) disregard the existence or terms of the ground lease; and
(3) determine if a commercial appraisal is required to assign the market value.
Disclaimer: These regulations may not be the most recent version. Utah may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
