Utah Code > Title 31A > Chapter 9 > Part 5 – Corporate Reorganization
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Utah Code > Title 31A > Chapter 9 > Part 5 - Corporate Reorganization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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 - City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
- commissioner of insurance: means Utah's insurance commissioner. See Utah Code 31A-1-301
- Continuance: Putting off of a hearing ot trial until a later time.
- 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: (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 - Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- 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 - Franchise fee: is a s defined in 47 U. See Utah Code 59-26-102
- insolvent: means that:
(a) an insurer is unable to pay the insurer's obligations as the obligations are due; (b) an insurer's total adjusted capital is less than the insurer's mandatory control level RBC under Subsection 31A-17-601(8)(c); or (c) an insurer's admitted assets are less than the insurer's liabilities. 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 - 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.
- Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
- Multi-channel video or audio service provider: includes the following except as specifically exempted by state or federal law:
(i) a cable operator; (ii) a CATV provider; (iii) a multi-point distribution provider; (iv) a MMDS provider; (v) a SMATV operator; (vi) a direct-to-home satellite service provider; or (vii) a DBS provider. See Utah Code 59-26-102 - Municipality: means a city or town. See Utah Code 59-26-102
- Mutual: means a mutual insurance corporation. See Utah Code 31A-1-301
- Order: means an order of the commissioner. See Utah Code 31A-1-301
- Participating: means a plan of insurance under which the insured is entitled to receive a dividend representing a share of the surplus of the insurer. 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 - Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
- 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
- Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5