Terms Used In Utah Code > Title 31A > Chapter 22 > Part 19 - Unclaimed Life Insurance and Annuity Benefits Act

• Administrator: means the same as that term is defined in Section 67-4a-102. See Utah Code 31A-22-1902
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Annuity: means an agreement to make periodical payments for a period certain or over the lifetime of one or more individuals if the making or continuance of all or some of the series of the payments, or the amount of the payment, is dependent upon the continuance of human life. See Utah Code 31A-1-301
• Asymmetric conduct: means an insurer's use of the death master file or other similar database before July 1, 2015, in connection with searching for information regarding whether annuitants under the insurer's annuities might be deceased, but not in connection with whether the insureds under the insurer's policies might be deceased. See Utah Code 31A-22-1902
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• 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 Claim: means any asserted demand for or cause of action for money or damages, whether arising under the common law, under state constitutional provisions, or under state statutes, against a governmental entity or against an employee in the employee's personal capacity. See Utah Code 63G-7-102 Contract: means an annuity contract. See Utah Code 31A-22-1902 Contract: A legal written agreement that becomes binding when signed. Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Death master file: means the United States Social Security Administration's Death Master File or another database or service that is at least as comprehensive as the United States Social Security Administration's Death Master File for determining that a person has reportedly died. See Utah Code 31A-22-1902 Death master file match: means a search of a death master file that results in a match of the Social Security number, or the name and date of birth of an insured, annuity owner, or retained asset account holder. See Utah Code 31A-22-1902 Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Employee: includes : (i)  a governmental entity's officers, employees, servants, trustees, or commissioners; (ii)  a member of a governing body; (iii)  a member of a government entity board; (iv)  a member of a government entity commission; (v)  members of an advisory body, officers, and employees of a Children's Justice Center created in accordance with Section 67-5b-102; (vi)  a student holding a license issued by the State Board of Education; (vii)  an educational aide; (viii)  a student engaged in an internship under Section 53B-16-402 or 53G-7-902; (ix)  a volunteer, as defined in Section 67-20-2; and (x)  a tutor. See Utah Code 63G-7-102 Employee: means : (a)  an individual employed by an employer; or (b)  an individual who meets the requirements of Subsection (53)(b). See Utah Code 31A-1-301 Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor Governmental entity: means : (a)  the state and its political subdivisions; and (b)  a law enforcement agency, as defined in Section 53-1-102, that employs one or more law enforcement officers, as defined in Section 53-13-103. See Utah Code 63G-7-102 Individual: means a natural person. See Utah Code 31A-1-301 Injury: means death, injury to a person, damage to or loss of property, or any other injury that a person may suffer to the person or estate, that would be actionable if inflicted by a private person or the private person's agent. See Utah Code 63G-7-102 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 Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Life insurance: means : (i)  insurance on a human life; and (ii)  insurance pertaining to or connected with human life. See Utah Code 31A-1-301 Person: means :Utah Code 68-3-12.5 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 Personal injury: means an injury of any kind other than property damage. See Utah Code 63G-7-102 Plaintiff: The person who files the complaint in a civil lawsuit. Policy: means a policy or certificate of life insurance that provides a death benefit. See Utah Code 31A-22-1902 Policyholder: means a person who controls a policy, binder, or oral contract by ownership, premium payment, or otherwise. See Utah Code 31A-1-301 Political subdivision: means any county, city, town, school district, community reinvestment agency, special improvement or taxing district, special district, special service district, an entity created by an interlocal agreement adopted under Title 11, Chapter 13, Interlocal Cooperation Act, or other governmental subdivision or public corporation. See Utah Code 63G-7-102 Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5 Property: includes both real and personal property. See Utah Code 68-3-12.5 Property damage: means injury to, or loss of, any right, title, estate, or interest in real or personal property. See Utah Code 63G-7-102 Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government. Record keeping services: means those circumstances under which the insurer agrees with a group policy or contract customer to be responsible for obtaining, maintaining, and administering, in its own or its agents' systems, information about each individual insured under an insured's group insurance contract, or a line of coverage under the group insurance contract, at least the following information: (a)  social security number, or name and date of birth; (b)  beneficiary designation information; (c)  coverage eligibility; (d)  benefit amount; and (e)  premium payment status. See Utah Code 31A-22-1902 Retained asset account: means a mechanism whereby the settlement of proceeds payable under a policy or contract is accomplished by the insurer or an entity acting on behalf of the insurer by depositing the proceeds into an account with check or draft writing privileges, where those proceeds are retained by the insurer or its agent, pursuant to a supplementary contract not involving annuity benefits other than death benefits. See Utah Code 31A-22-1902 Security: means a: (i)  note; (ii)  stock; (iii)  bond; (iv)  debenture; (v)  evidence of indebtedness; (vi)  certificate of interest or participation in a profit-sharing agreement; (vii)  collateral-trust certificate; (viii)  preorganization certificate or subscription; (ix)  transferable share; (x)  investment contract; (xi)  voting trust certificate; (xii)  certificate of deposit for a security; (xiii)  certificate of interest of participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease; (xiv)  commodity contract or commodity option; (xv)  certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the items listed in Subsections (171)(a)(i) through (xiv); or (xvi)  another interest or instrument commonly known as a security. See Utah Code 31A-1-301 Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. State: means the state of Utah, and includes each office, department, division, agency, authority, commission, board, institution, hospital, college, university, Children's Justice Center, or other instrumentality of the state. See Utah Code 63G-7-102 State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5 United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Venue: The geographical location in which a case is tried. Writing: includes :Utah Code 68-3-12.5