Terms Used In Utah Code 31A-9-210

• 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 Mutual: means a mutual insurance corporation. See Utah Code 31A-1-301      Section 31A-5-212 applies to certificates of authority for fraternals, except that references to other sections in Chapter 5, Domestic Stock and Mutual Insurance Corporations, shall be read to refer to the corresponding sections in Chapter 9, Insurance Fraternals. Enacted by Chapter 242, 1985 General Session   Previous section Next section    Part 2 Contents