Terms Used In Utah Code 31A-22-1303

• 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      Motor carrier safety regulations adopted under Section 72-9-103 specify liability insurance for motor carriers. Amended by Chapter 270, 1998 General Session   Previous section Next section    Part 13 Contents