Terms Used In Utah Code > Title 59 > Chapter 23 - Brine Shrimp Royalty Act

• board of directors: means the group of persons with responsibility over, or management of, a corporation, however designated. See Utah Code 31A-1-301
• Brine shrimp eggs: means dormant, early stage brine shrimp embryos encapsulated as cysts that are harvested from within the state. See Utah Code 59-23-3
• 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 Laws of a fraternal: include its articles of incorporation and bylaws, however designated. See Utah Code 31A-9-101 Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301 Mutual: means a mutual insurance corporation. See Utah Code 31A-1-301 Person: means :Utah Code 68-3-12.5 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. 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 Tax year: means a one-year period beginning on February 1 and ending on January 31 of the following year. See Utah Code 59-23-3