Terms Used In Utah Code 31A-18-103

• 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 Order: means an order of the commissioner. See Utah Code 31A-1-301      Any insurer whose business requires it to make payment in different currencies may have investments in securities in each of those currencies in an amount that, independently of all other investments, meets the requirements of the Insurance Code as applied separately to the insurer’s obligations in each currency. The commissioner may by order require an insurer, or by rule require a class of insurers, to maintain these separate currency investments if the obligations in other currencies are large enough to present a problem of financial stability if there are substantial fluctuations in relative currency values. Enacted by Chapter 242, 1985 General Session   Previous section Next section    Chapter 18 Contents