Utah Code 31A-1-201. Construction
Current as of: 2024 | Check for updates
|
Other versions
(1) This code shall be liberally construed to achieve the purposes stated in Section 31A-1-102 and under other chapters of the Insurance Code. The statements of purpose shall aid and guide interpretation but are not independent sources of power.
Terms Used In Utah Code 31A-1-201
- Insurance: includes :(96)(b)(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;(96)(b)(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(96)(b)(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(2) A provision of the Insurance Code relating to a particular kind of insurance or a particular type of insurer prevails over a provision relating to insurance or insurers in general if there is inconsistency between them.