Utah Code > Title 31A > Chapter 11 – Motor Clubs
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Terms Used In Utah Code > Title 31A > Chapter 11 - Motor Clubs
- Agency: means :
(a) a person other than an individual, including a sole proprietorship by which an individual does business under an assumed name; and (b) an insurance organization licensed or required to be licensed under Section 31A-23a-301, 31A-25-207, or 31A-26-209. See Utah Code 31A-1-301 - Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Application: means a document:
(b) used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301 - Arrest: Taking physical custody of a person by lawful authority.
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
- Certificate: means evidence of insurance given to:
(a) an insured under a group insurance policy; or (b) a third party. See Utah Code 31A-1-301 - Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means an insurance corporation, except when referring to:
(i) a corporation doing business: (A) as: (I) an insurance producer; (II) a surplus lines producer; (III) a limited line producer; (IV) a consultant; (V) a managing general agent; (VI) a reinsurance intermediary; (VII) a third party administrator; or (VIII) an adjuster; and (B) under: (I) Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries; (II) Chapter 25, Third Party Administrators; or (III) Chapter 26, Insurance Adjusters; or (ii) a noninsurer that is part of a holding company system under Chapter 16, Insurance Holding Companies. See Utah Code 31A-1-301 - Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Department: means the Insurance Department. See Utah Code 31A-1-301
- Filed: means that a filing is:
(i) submitted to the department as required by and in accordance with applicable statute, rule, or filing order; (ii) received by the department within the time period provided in applicable statute, rule, or filing order; and (iii) accompanied by the appropriate fee in accordance with: (A) Section 31A-3-103; or (B) rule. See Utah Code 31A-1-301 - Filing: when used as a noun, means an item required to be filed with the department including:
(a) a policy; (b) a rate; (c) a form; (d) a document; (e) a plan; (f) a manual; (g) an application; (h) a report; (i) a certificate; (j) an endorsement; (k) an actuarial certification; (l) a licensee annual statement; (m) a licensee renewal application; (n) an advertisement; (o) a binder; or (p) an outline of coverage. See Utah Code 31A-1-301 - Form: means one of the following prepared for general use:
(i) a policy; (ii) a certificate; (iii) an application; (iv) an outline of coverage; or (v) an endorsement. See Utah Code 31A-1-301 - Insurance: includes :
(i) a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind; (ii) a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and (iii) a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301 - Insured: means a person to whom or for whose benefit an insurer makes a promise in an insurance policy and includes:
(i) a policyholder; (ii) a subscriber; (iii) a member; and (iv) a beneficiary. See Utah Code 31A-1-301 - Motor club: means a person:
(a) licensed under: (i) Chapter 5, Domestic Stock and Mutual Insurance Corporations; (ii) Chapter 11, Motor Clubs; or (iii) Chapter 14, Foreign Insurers; and (b) that promises for an advance consideration to provide for a stated period of time one or more: (i) legal services under Subsection 31A-11-102(1)(b); (ii) bail services under Subsection 31A-11-102(1)(c); or (iii) (A) trip reimbursement; (B) towing services; (C) emergency road services; (D) stolen automobile services; (E) a combination of the services listed in Subsections (126)(b)(iii)(A) through (D); or (F) other services given in Subsections 31A-11-102(1)(b) through (f). See Utah Code 31A-1-301 - Mutual: means a mutual insurance corporation. See Utah Code 31A-1-301
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Order: means an order of the commissioner. See Utah Code 31A-1-301
- Person: includes :
(a) an individual; (b) a partnership; (c) a corporation; (d) an incorporated or unincorporated association; (e) a joint stock company; (f) a trust; (g) a limited liability company; (h) a reciprocal; (i) a syndicate; or (j) another similar entity or combination of entities acting in concert. See Utah Code 31A-1-301 - producer: means a person licensed or required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Utah Code 31A-1-301
- Quorum: The number of legislators that must be present to do business.
- Rate: means :
(i) the cost of a given unit of insurance; or (ii) for property or casualty insurance, that cost of insurance per exposure unit either expressed as: (A) a single number; or (B) a pure premium rate, adjusted before the application of individual risk variations based on loss or expense considerations to account for the treatment of: (I) expenses; (II) profit; and (III) individual insurer variation in loss experience. See Utah Code 31A-1-301 - Reinsurance: means an insurance transaction where an insurer, for consideration, transfers any portion of the risk it has assumed to another insurer. See Utah Code 31A-1-301
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Road: includes :Utah Code 68-3-12.5