Terms Used In Utah Code > Title 31A > Chapter 23a > Part 4 - Marketing Practices

• Accident and health insurance: means insurance to provide protection against economic losses resulting from:

  (i)	a medical condition including: (A)  a medical care expense; or (B)  the risk of disability;

  (ii)	accident; or

  (iii)

  sickness. See Utah Code 31A-1-301 Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5 Administrator: means the same as that term is defined in Subsection (182). See Utah Code 31A-1-301 Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote. Affiliate: means a person who controls, is controlled by, or is under common control with, another person. See Utah Code 31A-1-301 Affiliation: means association with an entity, including association in the form of employment, ownership, shareholdership, or financial interest. See Utah Code 63G-24-102 Agency: means the same as that term is defined in Section 63G-4-103. See Utah Code 63G-24-102 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 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 Application: means a document: (a)  (i)  completed by an applicant to provide information about the risk to be insured; and (ii)  that contains information that is used by the insurer to evaluate risk and decide whether to: (A)  insure the risk under: (I)  the coverage as originally offered; or (II)  a modification of the coverage as originally offered; or (B)  decline to insure the risk; or (b)  used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301 Appointed board member: means an individual appointed by the governor, with the consent of the Senate, to serve on a rulemaking board. See Utah Code 63G-24-102 Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization 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. Boycott action: means refusing to deal, terminating business activities, or limiting commercial relations. See Utah Code 63G-27-102 Boycotted company: means a company that: (a)  engages in the exploration, production, utilization, transportation, sale, or manufacture of fossil fuel-based energy, timber, mining, or agriculture; (b)  engages in, facilitates, or supports the manufacture, distribution, sale, or use of firearms; (c)  does not meet or commit to meet environmental standards, including standards for eliminating, reducing, offsetting, or disclosing greenhouse gas-emissions, beyond applicable state and federal law requirements; or (d)  does not facilitate or commit to facilitate access to abortion or sex characteristic surgical procedures. See Utah Code 63G-27-102 business of insurance: includes : (a)  providing health care insurance by an organization that is or is required to be licensed under this title; (b)  providing a benefit to an employee in the event of a contingency not within the control of the employee, in which the employee is entitled to the benefit as a right, which benefit may be provided either: (i)  by a single employer or by multiple employer groups; or (ii)  through one or more trusts, associations, or other entities; (c)  providing an annuity: (i)  including an annuity issued in return for a gift; and (ii)  except an annuity provided by a person specified in Subsections 31A-22-1305(2) and (3); (d)  providing the characteristic services of a motor club; (e)  providing another person with insurance; (f)  making as insurer, guarantor, or surety, or proposing to make as insurer, guarantor, or surety, a contract or policy offering title insurance; (g)  transacting or proposing to transact any phase of title insurance, including: (i)  solicitation; (ii)  negotiation preliminary to execution; (iii)  execution of a contract of title insurance; (iv)  insuring; and (v)  transacting matters subsequent to the execution of the contract and arising out of the contract, including reinsurance; (h)  transacting or proposing a life settlement; and (i)  doing, or proposing to do, any business in substance equivalent to Subsections (95)(a) through (h) in a manner designed to evade this title. See Utah Code 31A-1-301 Casualty insurance: means liability insurance. See Utah Code 31A-1-301 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 Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action. Company: includes any wholly-owned subsidiary, majority-owned subsidiary, parent company, or affiliate of an entity described in Subsection (4)(a). See Utah Code 63G-27-102 Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. consultant: means a person who: (a)  advises another person about insurance needs and coverages; (b)  is compensated by the person advised on a basis not directly related to the insurance placed; and (c)  except as provided in Section 31A-23a-501, is not compensated directly or indirectly by an insurer or producer for advice given. 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. Credit insurance: includes : (i)  credit accident and health insurance; (ii)  credit life insurance; (iii)  credit property insurance; (iv)  credit unemployment insurance; (v)  guaranteed automobile protection insurance; (vi)  involuntary unemployment insurance; (vii)  mortgage accident and health insurance; (viii)  mortgage guaranty insurance; and (ix)  mortgage life insurance. 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 Director: means a member of the board of directors of a corporation. See Utah Code 31A-1-301 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Division: means the Division of Facilities Construction and Management created in Section 63A-5b-301. See Utah Code 63G-28-301 Donor: The person who makes a gift. Economic boycott: means , without an ordinary business purpose: (a)  engaging in a boycott action targeting: (i)  a boycotted company; or (ii)  another company because the company does business with a boycotted company; or (b)  taking an action intended to penalize, inflict economic harm to, or change or limit the activities of: (i)  a boycotted company; or (ii)  another company because the company does business with a boycotted company. See Utah Code 63G-27-102 Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC 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 Endorsement: means a written agreement attached to a policy or certificate to modify the policy or certificate coverage. See Utah Code 31A-1-301 Escrow: Money given to a third party to be held for payment until certain conditions are met. Escrow: means : (i)  a transaction that effects the sale, transfer, encumbering, or leasing of real property, when a person not a party to the transaction, and neither having nor acquiring an interest in the title, performs, in accordance with the written instructions or terms of the written agreement between the parties to the transaction, any of the following actions: (A)  the explanation, holding, or creation of a document; or (B)  the receipt, deposit, and disbursement of money; (ii)  a settlement or closing involving: (A)  a mobile home; (B)  a grazing right; (C)  a water right; or (D)  other personal property authorized by the commissioner. See Utah Code 31A-1-301 Escrow agent: means an agency title insurance producer meeting the requirements of Sections 31A-4-107, 31A-14-211, and 31A-23a-204, who is acting through an individual title insurance producer licensed with an escrow subline of authority. See Utah Code 31A-1-301 Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller. Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC Fiduciary: A trustee, executor, or administrator. 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. 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 Fraud: Intentional deception resulting in injury to another. Fund: means the Olympic and Paralympic Venues Grant Fund. See Utah Code 63G-28-301 Games: means the 2030 or 2034 Olympic and Paralympic Winter Games. See Utah Code 63G-28-101 Games committee: means the Olympic and Paralympic Winter Games Coordination Committee created in Section 63G-28-201. See Utah Code 63G-28-101 Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Health care: means any of the following intended for use in the diagnosis, treatment, mitigation, or prevention of a human ailment or impairment: (a)  a professional service; (b)  a personal service; (c)  a facility; (d)  equipment; (e)  a device; (f)  supplies; or (g)  medicine. See Utah Code 31A-1-301 health insurance: means insurance providing: (i)  a health care benefit; or (ii)  payment of an incurred health care expense. See Utah Code 31A-1-301 Home state: means : (a)  a state or territory of the United States or the District of Columbia in which an insurance producer, limited lines producer, consultant, managing general agent, or reinsurance intermediary licensee: (i)  maintains the licensee's principal: (A)  place of residence; or (B)  place of business; and (ii)  is licensed to act as a resident licensee; or (b)  if the resident state, territory, or the District of Columbia described in Subsection (3)(a) does not license for the line of authority sought, a state, territory, or the District of Columbia: (i)  in which the licensee is licensed; (ii)  in which the licensee is in good standing; and (iii)  that the licensee has designated as the licensee's designated home state. See Utah Code 31A-23a-102 Host agreement: means an agreement with a site selection committee that is made in connection with the selection of the state for the location of the games. See Utah Code 63G-28-101 Host assurance: means a written assurance to a site selection committee that is made in connection with the selection of the state for the location of the games. See Utah Code 63G-28-101 Host committee: means a nonprofit corporation, including a successor in interest, that may: (a)  provide an application and bid to a site selection committee for selection of the state as the location of the games; and (b)  execute an agreement with the United States Olympic and Paralympic Committee regarding a bid and the bid process to host the games. See Utah Code 63G-28-101 improvements: means the replacement or addition to infrastructure, buildings, building components, or facility equipment. See Utah Code 63G-28-301 Individual: means a natural person. 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 Insurer: is a s defined in Section 31A-1-301, except that the following persons or similar persons are not insurers for purposes of 7: (a)  a risk retention group as defined in: (i)  the Superfund Amendments and Reauthorization Act of 1986, Pub. See Utah Code 31A-23a-102 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. Liability insurance: includes : (i)  vehicle liability insurance; (ii)  residential dwelling liability insurance; and (iii)  making inspection of, and issuing a certificate of inspection upon, an elevator, boiler, machinery, or apparatus of any kind when done in connection with insurance on the elevator, boiler, machinery, or apparatus. See Utah Code 31A-1-301 License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301 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 Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Managing general agent: means a person that: (i)  manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office; (ii)  acts as an agent for the insurer whether it is known as a managing general agent, manager, or other similar term; (iii)  produces and underwrites an amount of gross direct written premium equal to, or more than, 5% of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year: (A)  with or without the authority; (B)  separately or together with an affiliate; and (C)  directly or indirectly; and (iv)  (A)  adjusts or pays claims in excess of an amount determined by the commissioner; or (B)  negotiates reinsurance on behalf of the insurer. See Utah Code 31A-23a-102 Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Nominee: means a person selected by the governor to fill a rulemaking board vacancy subject to the advice and consent of the Senate. See Utah Code 63G-24-102 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 Ordinary business purpose: means a purpose that is related to business operations. See Utah Code 63G-27-102 Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. 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 information: means a record or other compilation of data that identifies a person as a donor to an entity exempt from federal income tax under Section 501(c) of the Internal Revenue Code. See Utah Code 63G-26-102 Personal property: includes :Utah Code 68-3-12.5 Personal property: All property that is not real property. Policy: includes a service contract issued by: (i)  a motor club under Chapter 11, Motor Clubs; (ii)  a service contract provided under Chapter 6a, Service Contracts; and (iii)  a corporation licensed under: (A)  Chapter 7, Nonprofit Health Service Insurance Corporations; or (B)  Chapter 8, Health Maintenance Organizations and Limited Health Plans. See Utah Code 31A-1-301 Policyholder: means a person who controls a policy, binder, or oral contract by ownership, premium payment, or otherwise. See Utah Code 31A-1-301 Premium: includes , however designated: (i)  an assessment; (ii)  a membership fee; (iii)  a required contribution; or (iv)  monetary consideration. 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 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 Producer for the insured: means a producer who: (A)  is compensated directly and only by an insurance customer or an insured; and (B)  receives no compensation directly or indirectly from an insurer for selling, soliciting, or negotiating an insurance product of that insurer to an insurance customer or insured. See Utah Code 31A-1-301 Producer for the insurer: means a producer who is compensated directly or indirectly by an insurer for selling, soliciting, or negotiating an insurance product of that insurer. See Utah Code 31A-1-301 Property: includes both real and personal property. See Utah Code 68-3-12.5 Public agency: means a state or local government entity, including: (a)  a department, division, agency, office, commission, board, or other government organization; (b)  a political subdivision, including a county, city, town, metro township, special district, or special service district; (c)  a public school, school district, charter school, or public higher education institution; or (d)  a judicial or quasi-judicial body. See Utah Code 63G-26-102 Public entity: means the state or a political subdivision of the state, including each department, division, office, board, commission, council, authority, or institution of the state or a political subdivision of the state. See Utah Code 63G-27-102 Public official: includes a judge or justice of: (a)  the Utah Supreme Court; (b)  the Utah Court of Appeals; or (c)  a district court. See Utah Code 63G-23-102 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 real property: includes :Utah Code 68-3-12.5 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Rebate: means a licensee paying, allowing, giving, or offering to pay, allow, or give, directly or indirectly: (i)  a refund of premium or portion of premium; (ii)  a refund of commission or portion of commission; (iii)  a refund of all or a portion of a consultant fee; or (iv)  providing services or other benefits not specified in an insurance or annuity contract. 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 Resident: is a s defined by rule made by the commissioner in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. See Utah Code 31A-23a-102 Rulemaking board: means a board, committee, commission, or council: (i)  that has rulemaking authority; and (ii)  at least part of whose membership is appointed by the governor subject to the advice and consent of the Senate. See Utah Code 63G-24-102 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. Site selection committee: means the International Olympic Committee or the International Paralympic Committee. See Utah Code 63G-28-101 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 state agency: means an executive branch: (1)  department; (2)  division; or (3)  office. See Utah Code 63G-25-101 State security: means a financial obligation undertaken by the state under a host agreement. See Utah Code 63G-28-101 Statute: A law passed by a legislature. Substantial interest: means the same as that term is defined in Section 67-16-3. See Utah Code 63G-24-102 Surplus: means the excess of assets over the sum of paid-in capital and liabilities. See Utah Code 31A-1-301 Terminate: means : (a)  the cancellation of the relationship between: (i)  an individual licensee or agency licensee and a particular insurer; or (ii)  an individual licensee and a particular agency licensee; or (b)  the termination of: (i)  an individual licensee's or agency licensee's authority to transact insurance on behalf of a particular insurance company; or (ii)  an individual licensee's authority to transact insurance on behalf of a particular agency licensee. See Utah Code 31A-23a-102 Title insurance: means the insuring, guaranteeing, or indemnifying of an owner of real or personal property or the holder of liens or encumbrances on that property, or others interested in the property against loss or damage suffered by reason of liens or encumbrances upon, defects in, or the unmarketability of the title to the property, or invalidity or unenforceability of any liens or encumbrances on the property. See Utah Code 31A-1-301 Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5 Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC Trustee: means "director" when referring to the board of directors of a corporation. See Utah Code 31A-1-301 Trustee: A person or institution holding and administering property in trust. United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Utah Code: means the 1953 recodification of the Utah Code, as amended, unless the text expressly references a portion of the 1953 recodification of the Utah Code as it existed:Utah Code 68-3-12.5 Venue: The geographical location in which a case is tried. Venue: means a facility: (a)  designed and currently approved under standards developed by a generally recognized sports federation to host world-class level, international winter sports competitions; and (b)  used for recreational, developmental, and competitive athletic training. See Utah Code 63G-28-301 Venue operator: means a person who: (a)  operates a venue that is exempt from federal income taxation under Section 501(c)(3), Internal Revenue Code; or (b)  owns a venue or operates a venue under contract with the public owner of the venue. See Utah Code 63G-28-301 Writing: includes :Utah Code 68-3-12.5