Utah Code 31A-23a-505. Benefit plans for producers
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Utah Code 31A-23a-505
- authorized insurer: means an insurer:
(i) holding a valid certificate of authority to do an insurance business in this state; and (ii) transacting business as authorized by a valid certificate. 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 An authorized insurer may establish retirement, insurance, and other benefit plans for producers on a basis approved by the commissioner.Renumbered and Amended by Chapter 298, 2003 General Session
- Insurance: includes :