Terms Used In Utah Code > Title 10 > Chapter 19 - Municipal Electric Utility Carbon Emission Reduction Act

• accident and health insurance: means a contract that incorporates morbidity risk and provides protection against economic loss resulting from accident, sickness, or medical conditions and as may be specified in the valuation manual. See Utah Code 31A-17-501
• Actuary: is a s defined by the commissioner by rule, made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. See Utah Code 31A-1-301
• Adjudicative proceeding: means :Utah Code 68-3-12.5
• Adjusted retail electric sales: means the total kilowatt-hours of retail electric sales of a municipal electric utility to customers in this state in a calendar year, reduced by:

  (a)	the amount of those kilowatt-hours attributable to electricity generated or purchased in that calendar year from qualifying zero carbon emissions generation and qualifying carbon sequestration generation;

  (b)

  the amount of those kilowatt-hours attributable to electricity generated or purchased in that calendar year from generation located within the geographic boundary of the Western Electricity Coordinating Council that derives its energy from one or more of the following but that does not satisfy the definition of a renewable energy source or that otherwise has not been used to satisfy Subsection 10-19-201(1): (i)  wind energy; (ii)  solar photovoltaic and solar thermal energy; (iii)  wave, tidal, and ocean thermal energy; (iv)  except for combustion of wood that has been treated with chemical preservatives such as creosote, pentachlorophenol or chromated copper arsenate, biomass and biomass byproducts, including: (A)  organic waste; (B)  forest or rangeland woody debris from harvesting or thinning conducted to improve forest or rangeland ecological health and to reduce wildfire risk; (C)  agricultural residues; (D)  dedicated energy crops; and (E)  landfill gas or biogas produced from organic matter, wastewater, anaerobic digesters, or municipal solid waste; (v)  geothermal energy; (vi)  hydro-electric energy; or (vii)  waste gas and waste heat capture or recovery; and

  (c)

  the number of kilowatt-hours attributable to reductions in retail sales in that calendar year from activities or programs promoting electric energy efficiency or conservation or more efficient management of electric energy load. See Utah Code 10-19-102 Affected entity: means : (i)  a county of the first or second class in whose unincorporated area the area proposed for annexation is located; (ii)  a county of the third, fourth, fifth, or sixth class in whose unincorporated area the area proposed for annexation is located, if the area includes residents or commercial or industrial development; (iii)  a special district under Title 17B, Limited Purpose Local Government Entities - Special Districts, or special service district under Title 17D, Chapter 1, Special Service District Act, whose boundary includes any part of an area proposed for annexation; (iv)  a school district whose boundary includes any part of an area proposed for annexation, if the boundary is proposed to be adjusted as a result of the annexation; and (v)  a municipality whose boundaries are within 1/2 mile of an area proposed for annexation. See Utah Code 10-2-401 Agency: means : (a)  a person other than an individual, including a sole proprietorship by which an individual does business under an assumed name; and (b)  an insurance organization licensed or required to be licensed under Section 31A-23a-301, 31A-25-207, or 31A-26-209. See Utah Code 31A-1-301 Annexation petition: means a petition under Section 10-2-403 proposing the annexation to a municipality of a contiguous, unincorporated area that is contiguous to the municipality. See Utah Code 10-2-401 Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year. Annuity: means an agreement to make periodical payments for a period certain or over the lifetime of one or more individuals if the making or continuance of all or some of the series of the payments, or the amount of the payment, is dependent upon the continuance of human life. See Utah Code 31A-1-301 Appointed actuary: means a qualified actuary who is appointed in accordance with the valuation manual to prepare the actuarial opinion required in Subsection 31A-17-503(2). See Utah Code 31A-17-501 Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account. Banked renewable energy certificate: means a bundled or unbundled renewable energy certificate that is: (a)  not used in a calendar year to comply with this part or with a renewable energy program in another state; and (b)  carried forward into a subsequent year. See Utah Code 10-19-102 board of directors: means the group of persons with responsibility over, or management of, a corporation, however designated. See Utah Code 31A-1-301 Certificate: means evidence of insurance given to: (a)  an insured under a group insurance policy; or (b)  a third party. See Utah Code 31A-1-301 City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5 Commission: means a boundary commission established under Section 10-2-409 for the county in which the property that is proposed for annexation is located. See Utah Code 10-2-401 Commission: means the Public Service Commission. See Utah Code 10-19-102 Company: means an entity that: (i)  has written, issued, or reinsured a life insurance contract, accident and health insurance contract, or deposit-type contract in this state and has at least one such policy in force or on claim; or (ii)  has written, issued, or reinsured a life insurance contract, accident and health insurance contract, or deposit-type contract in any state and is required to hold a certificate of authority to write life insurance, accident and health insurance, or deposit-type contracts in this state. See Utah Code 31A-17-501 Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. Contiguous: means : (a)  if used to described an area, continuous, uninterrupted, and without an island of territory not included as part of the area; and (b)  if used to describe an area's relationship to another area, sharing a common boundary. See Utah Code 10-1-104 Contract: A legal written agreement that becomes binding when signed. Conviction: A judgement of guilt against a criminal defendant. Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name. County legislative body: means :Utah Code 68-3-12.5 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Deed: The legal instrument used to transfer title in real property from one person to another. Department: means the Insurance Department. See Utah Code 31A-1-301 Deposit-type contract: means a contract that does not incorporate mortality or morbidity risks and as may be specified in the valuation manual. See Utah Code 31A-17-501 Disability: means a physiological or psychological condition that partially or totally limits an individual's ability to: (a)  perform the duties of: (i)  that individual's occupation; or (ii)  an occupation for which the individual is reasonably suited by education, training, or experience; or (b)  perform two or more of the following basic activities of daily living: (i)  eating; (ii)  toileting; (iii)  transferring; (iv)  bathing; or (v)  dressing. See Utah Code 31A-1-301 Division: means the Division of Consumer Protection. See Utah Code 13-26-2 Employee: means : (a)  an individual employed by an employer; or (b)  an individual who meets the requirements of Subsection (53)(b). See Utah Code 31A-1-301 Expansion area: means the unincorporated area that is identified in an annexation policy plan under Section 10-2-401. See Utah Code 10-2-401 Feasibility consultant: means a person or firm with expertise in the processes and economics of local government. See Utah Code 10-2-401 Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC Fictitious personal name: means a name other than an individual's legal name. See Utah Code 13-26-2 Filed: means that a filing is: (i)  submitted to the department as required by and in accordance with applicable statute, rule, or filing order; (ii)  received by the department within the time period provided in applicable statute, rule, or filing order; and (iii)  accompanied by the appropriate fee in accordance with: (A)  Section 31A-3-103; or (B)  rule. See Utah Code 31A-1-301 Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC Form: means one of the following prepared for general use: (i)  a policy; (ii)  a certificate; (iii)  an application; (iv)  an outline of coverage; or (v)  an endorsement. See Utah Code 31A-1-301 Fraud: Intentional deception resulting in injury to another. health insurance: means insurance providing: (i)  a health care benefit; or (ii)  payment of an incurred health care expense. See Utah Code 31A-1-301 Indemnity: means the payment of an amount to offset all or part of an insured loss. See Utah Code 31A-1-301 Individual: means a natural person. 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 insurance company: means a person doing an insurance business as a principal including: (i)  a fraternal benefit society; (ii)  an issuer of a gift annuity other than an annuity specified in Subsections 31A-22-1305(2) and (3); (iii)  a motor club; (iv)  an employee welfare plan; (v)  a person purporting or intending to do an insurance business as a principal on that person's own account; and (vi)  a health maintenance organization. See Utah Code 31A-1-301 Insured: means a person to whom or for whose benefit an insurer makes a promise in an insurance policy and includes: (i)  a policyholder; (ii)  a subscriber; (iii)  a member; and (iv)  a beneficiary. See Utah Code 31A-1-301 Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Land: includes :Utah Code 68-3-12.5 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. life insurance: means a contract that incorporates mortality risk, including annuity and pure endowment contracts, and as may be specified in the valuation manual. See Utah Code 31A-17-501 material fact: means information that a person of ordinary intelligence or prudence would consider important in deciding whether to accept an offer extended through a telephone solicitation. See Utah Code 13-26-2 Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301 Mining protection area: means the same as that term is defined in Section 17-41-101. See Utah Code 10-2-401 Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC Municipal: means of or relating to a municipality. See Utah Code 10-1-104 Municipal electric utility: means any municipality that owns, operates, controls, or manages a facility that provides electric power for a retail customer, whether domestic, commercial, industrial, or otherwise. See Utah Code 10-19-102 Municipality: means : (a)  a city of the first class, city of the second class, city of the third class, city of the fourth class, city of the fifth class; (b)  a town, as classified in Section 10-2-301; or (c)  a metro township as that term is defined in Section 10-2a-403 unless the term is used in the context of authorizing, governing, or otherwise regulating the provision of municipal services. See Utah Code 10-1-104 Mutual: means a mutual insurance corporation. See Utah Code 31A-1-301 NAIC: means the National Association of Insurance Commissioners. See Utah Code 31A-1-301 Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Order: means an order of the commissioner. See Utah Code 31A-1-301 Oversight: Committee review of the activities of a Federal agency or program. Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Peninsula: when used to describe an unincorporated area, means an area surrounded on more than 1/2 of its boundary distance, but not completely, by incorporated territory and situated so that the length of a line drawn across the unincorporated area from an incorporated area to an incorporated area on the opposite side shall be less than 25% of the total aggregate boundaries of the unincorporated area. See Utah Code 10-1-104 Person: means :Utah Code 68-3-12.5 Person: includes : (a)  an individual; (b)  a partnership; (c)  a corporation; (d)  an incorporated or unincorporated association; (e)  a joint stock company; (f)  a trust; (g)  a limited liability company; (h)  a reciprocal; (i)  a syndicate; or (j)  another similar entity or combination of entities acting in concert. See Utah Code 31A-1-301 Person: means an individual, corporation, partnership, organization, association, trust, governmental agency, or any other legal entity. See Utah Code 10-1-104 Policy: includes a service contract issued by: (i)  a motor club under Chapter 11, Motor Clubs; (ii)  a service contract provided under Chapter 6a, Service Contracts; and (iii)  a corporation licensed under: (A)  Chapter 7, Nonprofit Health Service Insurance Corporations; or (B)  Chapter 8, Health Maintenance Organizations and Limited Health Plans. See Utah Code 31A-1-301 Policyholder: means a person who controls a policy, binder, or oral contract by ownership, premium payment, or otherwise. See Utah Code 31A-1-301 Premium: means a gift, bonus, prize, award, certificate, or other document by which a prospective purchaser is given a right, chance, or privilege to purchase or receive goods or services with a stated or represented value of $25 or more as an inducement to a prospective purchaser to purchase other goods or services. See Utah Code 13-26-2 Premium: includes , however designated: (i)  an assessment; (ii)  a membership fee; (iii)  a required contribution; or (iv)  monetary consideration. See Utah Code 31A-1-301 Principle-based valuation: means a reserve valuation that uses one or more methods or one or more assumptions determined by the insurer and is required to comply with Section 31A-17-515 as specified in the valuation manual. See Utah Code 31A-17-501 Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5 Property: includes both real and personal property. See Utah Code 68-3-12.5 Qualified actuary: means an individual who is qualified to sign the applicable statement of actuarial opinion in accordance with the American Academy of Actuaries qualification standards for actuaries signing the statements and who meets the requirements specified in the valuation manual. See Utah Code 31A-17-501 Qualifying carbon sequestration generation: means a fossil-fueled generating facility located within the geographic boundary of the Western Electricity Coordinating Council that: (a)  becomes operational or is retrofitted on or after January 1, 2008; and (b)  reduces carbon dioxide emissions into the atmosphere through permanent geological sequestration or through other verifiably permanent reductions in carbon dioxide emissions through the use of technology. See Utah Code 10-19-102 Qualifying electricity: means electricity generated on or after January 1, 1995 from a renewable energy source if: (a)  (i)  the renewable energy source is located within the geographic boundary of the Western Electricity Coordinating Council; or (ii)  the qualifying electricity is delivered to the transmission system of a municipal electric utility or a delivery point designated by the municipal electric utility for the purpose of subsequent delivery to the municipal electric utility; and (b)  the renewable energy attributes of the electricity are not traded, sold, transferred, or otherwise used to satisfy another state's renewable energy program. See Utah Code 10-19-102 Rate: means : (i)  the cost of a given unit of insurance; or (ii)  for property or casualty insurance, that cost of insurance per exposure unit either expressed as: (A)  a single number; or (B)  a pure premium rate, adjusted before the application of individual risk variations based on loss or expense considerations to account for the treatment of: (I)  expenses; (II)  profit; and (III)  individual insurer variation in loss experience. See Utah Code 31A-1-301 Reinsurance: means an insurance transaction where an insurer, for consideration, transfers any portion of the risk it has assumed to another insurer. See Utah Code 31A-1-301 Renewable energy certificate: means a certificate issued in accordance with the requirements of Sections 10-19-202 and 54-17-603. See Utah Code 10-19-102 Renewable energy source: means : (a)  an electric generation facility or generation capability or upgrade that becomes operational on or after January 1, 1995 that derives its energy from one or more of the following: (i)  wind energy; (ii)  solar photovoltaic and solar thermal energy; (iii)  wave, tidal, and ocean thermal energy; (iv)  except for combustion of wood that has been treated with chemical preservatives such as creosote, pentachlorophenol or chromated copper arsenate, biomass and biomass byproducts, including: (A)  organic waste; (B)  forest or rangeland woody debris from harvesting or thinning conducted to improve forest or rangeland ecological health and to reduce wildfire risk; (C)  agricultural residues; (D)  dedicated energy crops; and (E)  landfill gas or biogas produced from organic matter, wastewater, anaerobic digesters, or municipal solid waste; (v)  geothermal energy located outside the state; (vi)  waste gas and waste heat capture or recovery whether or not it is renewable, including methane gas from: (A)  an abandoned coal mine; or (B)  a coal degassing operation associated with a state-approved mine permit; (vii)  efficiency upgrades to a hydroelectric facility, without regard to the date upon which the facility became operational, if the upgrades become operational on or after January 1, 1995; (viii)  a compressed air energy storage process, if: (A)  the process used to compress the air is a renewable energy source and the associated renewable energy certificates are retired for the purpose of the compressed air energy storage process; or (B)  equivalent renewable energy certificates are obtained and retired for the purpose of the compressed air energy storage process; or (ix)  municipal solid waste; (b)  any of the following: (i)  up to 50 average megawatts of electricity per year per municipal electric utility from a certified low-impact hydroelectric facility, without regard to the date upon which the facility becomes operational, if the facility is certified as a low-impact hydroelectric facility on or after January 1, 1995, by a national certification organization; (ii)  geothermal energy if located within the state, without regard to the date upon which the facility becomes operational; and (iii)  hydroelectric energy if located within the state, without regard to the date upon which the facility becomes operational; (c)  hydrogen gas derived from any source of energy described in Subsection (11)(a) or (b); (d)  if an electric generation facility employs multiple energy sources, that portion of the electricity generated that is attributable to energy sources described in Subsections (11)(a) through (c); and (e)  any of the following located in the state and owned by a user of energy: (i)  a demand side management measure, as defined by Subsection 54-7-12. See Utah Code 10-19-102 Seller: means a person, or a group of persons engaged in a common effort to conduct a telephone solicitation, that: (a)  on behalf of the person, or the group of persons engaged in a common effort to conduct a telephone solicitation: (i)  makes a telephone solicitation; or (ii)  causes a telephone solicitation to be made; or (b)  through a telephone solicitor: (i)  makes a telephone solicitation; or (ii)  causes a telephone solicitation to be made. See Utah Code 13-26-2 Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. solicitor: means an individual who engages in a telephone solicitation on behalf of a seller. See Utah Code 13-26-2 Specified county: means a county of the second, third, fourth, fifth, or sixth class. See Utah Code 10-2-401 State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5 Subpoena: A command to a witness to appear and give testimony. Tail risk: means a risk that occurs either when the frequency of low probability events is higher than expected under a normal probability distribution or when there are observed events of very significant size or magnitude. See Utah Code 31A-17-501 Title insurance: means the insuring, guaranteeing, or indemnifying of an owner of real or personal property or the holder of liens or encumbrances on that property, or others interested in the property against loss or damage suffered by reason of liens or encumbrances upon, defects in, or the unmarketability of the title to the property, or invalidity or unenforceability of any liens or encumbrances on the property. See Utah Code 31A-1-301 Town: means a municipality classified by population as a town under Section 10-2-301. See Utah Code 10-1-104 Unincorporated: means not within a municipality. See Utah Code 10-1-104 Unincorporated peninsula: means an unincorporated area: (i)  that is part of a larger unincorporated area; (ii)  that extends from the rest of the unincorporated area of which it is a part; (iii)  that is surrounded by land that is within a municipality, except where the area connects to and extends from the rest of the unincorporated area of which it is a part; and (iv)  whose width, at any point where a straight line may be drawn from a place where it borders a municipality to another place where it borders a municipality, is no more than 25% of the boundary of the area where it borders a municipality. See Utah Code 10-2-401 United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Urban development: means : (i)  a housing development with more than 15 residential units and an average density greater than one residential unit per acre; or (ii)  a commercial or industrial development for which cost projections exceed $750,000 for all phases. See Utah Code 10-2-401 Valuation manual: means the manual of valuation instructions adopted in accordance with Section 31A-17-514. See Utah Code 31A-17-501 Writing: includes :Utah Code 68-3-12.5