Terms Used In Utah Code > Title 11 > Chapter 17 - Utah Industrial Facilities and Development Act

• Accident and health insurance: means insurance to provide protection against economic losses resulting from:

  (i)	a medical condition including: (A)  a medical care expense; or (B)  the risk of disability;

  (ii)	accident; or

  (iii)

  sickness. See Utah Code 31A-1-301 Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5 Administrator: means the same as that term is defined in Subsection (182). See Utah Code 31A-1-301 advisory council: means a board, commission, or council that: (a)  provides advice and makes recommendations to another person or entity who makes policy for the benefit of the general public; (b)  is created by and whose duties are provided by statute or by executive order; and (c)  performs its duties only under the supervision of another person as provided by statute. See Utah Code 63C-1-102 Affiliate: means a person who controls, is controlled by, or is under common control with, another person. See Utah Code 31A-1-301 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 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 Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense. Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant. Application: means a document: (a)  (i)  completed by an applicant to provide information about the risk to be insured; and (ii)  that contains information that is used by the insurer to evaluate risk and decide whether to: (A)  insure the risk under: (I)  the coverage as originally offered; or (II)  a modification of the coverage as originally offered; or (B)  decline to insure the risk; or (b)  used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301 Armed forces: means the United States Army, Navy, Air Force, Marine Corps, Space Force, and Coast Guard. See Utah Code 68-3-12.5 Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account. Authorizing statute: means the statute creating an entity as an independent entity. See Utah Code 63E-1-102 Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels. Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC Bonds: means bonds, notes, or other evidences of indebtedness. See Utah Code 11-17-2 Casualty insurance: means liability insurance. 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 Collect: includes use of any identifying code linked to a user of a governmental website. See Utah Code 63D-2-102 Commission: means the Point of the Mountain Development Commission, created in Section 63C-17-103. See Utah Code 63C-17-102 committee: means the Utah Population Committee created by this chapter. See Utah Code 63C-20-102 Committee: means the Retirement and Independent Entities Committee created by Section 63E-1-201. See Utah Code 63E-1-102 consultant: means a person who: (a)  advises another person about insurance needs and coverages; (b)  is compensated by the person advised on a basis not directly related to the insurance placed; and (c)  except as provided in Section 31A-23a-501, is not compensated directly or indirectly by an insurer or producer for advice given. See Utah Code 31A-1-301 Contact sponsor: means the person designated in the feasibility request as the contact sponsor under Subsection 10-2a-202(2)(d). See Utah Code 10-2a-102 Contiguous: means , except as provided in Subsection (1)(b)(ii), the same as that term is defined in Section 10-1-104. See Utah Code 10-2a-102 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. 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. Corporation: means an insurance corporation, except when referring to: (i)  a corporation doing business: (A)  as: (I)  an insurance producer; (II)  a surplus lines producer; (III)  a limited line producer; (IV)  a consultant; (V)  a managing general agent; (VI)  a reinsurance intermediary; (VII)  a third party administrator; or (VIII)  an adjuster; and (B)  under: (I)  Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries; (II)  Chapter 25, Third Party Administrators; or (III)  Chapter 26, Insurance Adjusters; or (ii)  a noninsurer that is part of a holding company system under Chapter 16, Insurance Holding Companies. See Utah Code 31A-1-301 Council: means the Snake Valley Aquifer Advisory Council created in Section 63C-12-103. See Utah Code 63C-12-102 County legislative body: means :Utah Code 68-3-12.5 Court website: means a website on the Internet that is operated by or on behalf of any court created in Title 78A, Chapter 1, Judiciary. See Utah Code 63D-2-102 Credit accident and health insurance: means insurance on a debtor to provide indemnity for payments coming due on a specific loan or other credit transaction while the debtor has a disability. See Utah Code 31A-22-802 Credit life insurance: means life insurance on the life of a debtor in connection with a specific loan or credit transaction. See Utah Code 31A-22-802 Credit transaction: means any transaction under which the payment for money loaned or for goods, services, or properties sold or leased is to be made on future dates. See Utah Code 31A-22-802 Creditor: means the lender of money or the vendor or lessor of goods, services, or property, for which payment is arranged through a credit transaction, or any successor to the right, title, or interest of any lender or vendor. See Utah Code 31A-22-802 Debtor: means a borrower of money or a purchaser, including a lessee under a lease intended as security, of goods, services, or property, for which payment is arranged through a credit transaction. See Utah Code 31A-22-802 Deed: The legal instrument used to transfer title in real property from one person to another. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Department: means the Insurance Department. See Utah Code 31A-1-301 Dependent: A person dependent for support upon another. Devise: To gift property by will. Director: means a member of the board of directors of a corporation. See Utah Code 31A-1-301 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 Domestic insurer: means an insurer organized under the laws of this state. See Utah Code 31A-1-301 Donor: The person who makes a gift. Emergency medical condition: means a medical condition that: (a)  manifests itself by acute symptoms, including severe pain; and (b)  would cause a prudent layperson possessing an average knowledge of medicine and health to reasonably expect the absence of immediate medical attention through a hospital emergency department to result in: (i)  placing the layperson's health or the layperson's unborn child's health in serious jeopardy; (ii)  serious impairment to bodily functions; or (iii)  serious dysfunction of any bodily organ or part. See Utah Code 31A-1-301 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 Endorsement: means a written agreement attached to a policy or certificate to modify the policy or certificate coverage. See Utah Code 31A-1-301 Energy efficiency upgrade: means an improvement that is permanently affixed to real property and that is designed to reduce energy consumption, including: (a)  insulation in: (i)  a wall, ceiling, roof, floor, or foundation; or (ii)  a heating or cooling distribution system; (b)  an insulated window or door, including: (i)  a storm window or door; (ii)  a multiglazed window or door; (iii)  a heat-absorbing window or door; (iv)  a heat-reflective glazed and coated window or door; (v)  additional window or door glazing; (vi)  a window or door with reduced glass area; or (vii)  other window or door modifications that reduce energy loss; (c)  an automatic energy control system; (d)  in a building or a central plant, a heating, ventilation, or air conditioning and distribution system; (e)  caulking or weatherstripping; (f)  a light fixture that does not increase the overall illumination of a building unless an increase is necessary to conform with the applicable building code; (g)  an energy recovery system; (h)  a daylighting system; (i)  measures to reduce the consumption of water, through conservation or more efficient use of water, including: (i)  installation of a low-flow toilet or showerhead; (ii)  installation of a timer or timing system for a hot water heater; or (iii)  installation of a rain catchment system; or (j)  any other modified, installed, or remodeled fixture that is approved as a utility cost-savings measure by the governing body. See Utah Code 11-17-2 Enrollee: includes an insured. See Utah Code 31A-1-301 Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Exclusion: means for the purposes of accident and health insurance that an insurer does not provide insurance coverage, for whatever reason, for one of the following: (a)  a specific physical condition; (b)  a specific medical procedure; (c)  a specific disease or disorder; or (d)  a specific prescription drug or class of prescription drugs. See Utah Code 31A-1-301 Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller. Feasibility request: means a request, described in Section 10-2a-202, for a feasibility study for the proposed incorporation of a municipality. See Utah Code 10-2a-102 Fiduciary: A trustee, executor, or administrator. 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 Filing: when used as a noun, means an item required to be filed with the department including: (a)  a policy; (b)  a rate; (c)  a form; (d)  a document; (e)  a plan; (f)  a manual; (g)  an application; (h)  a report; (i)  a certificate; (j)  an endorsement; (k)  an actuarial certification; (l)  a licensee annual statement; (m)  a licensee renewal application; (n)  an advertisement; (o)  a binder; or (p)  an outline of coverage. See Utah Code 31A-1-301 Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC financing: includes the issuing of bonds by a municipality, county, or state university for the purpose of using a portion, or all or substantially all of the proceeds to pay for or to reimburse the user, lender, or the user or lender's designee for the costs of the acquisition of facilities of a project, or to create funds for the project itself where appropriate, whether these costs are incurred by the municipality, the county, the state university, the user, or a designee of the user. See Utah Code 11-17-2 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 Franchise insurance: means an individual insurance policy provided through a mass marketing arrangement involving a defined class of persons related in some way other than through the purchase of insurance. See Utah Code 31A-1-301 Fraud: Intentional deception resulting in injury to another. Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Governing body: means : (a)  for a county, city, town, or metro township, the legislative body of the county, city, town, or metro township; (b)  for the military installation development authority created in Section 63H-1-201, the board, as defined in Section 63H-1-102; (c)  for a state university except as provided in Subsection (4)(d), the board or body having the control and supervision of the state university; and (d)  for a nonprofit corporation or foundation created by and operating under the auspices of a state university, the board of directors or board of trustees of that corporation or foundation. See Utah Code 11-17-2 Governmental entity: means : (a)  an executive branch agency as defined in Section 63A-16-102; (b)  the legislative branch; (c)  the judicial branch; (d)  the State Board of Education; (e)  the Utah Board of Higher Education; (f)  an institution of higher education as defined in Section 53B-1-102; and (g)  a political subdivision of the state: (i)  as defined in Section 17B-1-102; and (ii)  including a school district. See Utah Code 63D-2-102 Governmental website: includes a court website. See Utah Code 63D-2-102 Governmental website operator: means a governmental entity or person acting on behalf of the governmental entity that: (a)  operates a governmental website; and (b)  collects or maintains personally identifiable information from or about a user of that website. See Utah Code 63D-2-102 Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve Group health plan: means an employee welfare benefit plan to the extent that the plan provides medical care: (a)  (i)  to an employee; or (ii)  to a dependent of an employee; and (b)  (i)  directly; (ii)  through insurance reimbursement; or (iii)  through another method. See Utah Code 31A-1-301 Group insurance policy: means a policy covering a group of persons that is issued: (i)  to a policyholder on behalf of the group; and (ii)  for the benefit of a member of the group who is selected under a procedure defined in: (A)  the policy; or (B)  an agreement that is collateral to the policy. See Utah Code 31A-1-301 Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs. Guardian: includes a person who:Utah Code 68-3-12.5 Health benefit plan: means a policy, contract, certificate, or agreement offered or issued by an insurer to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care, including major medical expense coverage. See Utah Code 31A-1-301 Health care: means any of the following intended for use in the diagnosis, treatment, mitigation, or prevention of a human ailment or impairment: (a)  a professional service; (b)  a personal service; (c)  a facility; (d)  equipment; (e)  a device; (f)  supplies; or (g)  medicine. See Utah Code 31A-1-301 Health care provider: means the same as that term is defined in Section 78B-3-403. See Utah Code 31A-1-301 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 Indebtedness: means the total amount payable by a debtor to a creditor in connection with a credit transaction, including principal finance charges and interest. See Utah Code 31A-22-802 Indemnity: means the payment of an amount to offset all or part of an insured loss. See Utah Code 31A-1-301 Independent corporation: means a corporation incorporated in accordance with Chapter 2, Independent Corporations Act. See Utah Code 63E-1-102 Individual: means a natural person. See Utah Code 31A-1-301 Industrial park: includes the development of the land for an industrial park under this chapter or the acquisition and provision of water, sewerage, drainage, street, road, sidewalk, curb, gutter, street lighting, electrical distribution, railroad, or docking facilities, or any combination of them, but only to the extent that these facilities are incidental to the use of the land as an industrial park. See Utah Code 11-17-2 insolvent: means that: (a)  an insurer is unable to pay the insurer's obligations as the obligations are due; (b)  an insurer's total adjusted capital is less than the insurer's mandatory control level RBC under Subsection 31A-17-601(8)(c); or (c)  an insurer's admitted assets are less than the insurer's liabilities. 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 Intellectual disability: means a significant, subaverage general intellectual functioning that:Utah Code 68-3-12.5 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 Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Legal expense insurance: includes an arrangement that creates a reasonable expectation of an enforceable right. See Utah Code 31A-1-301 Lender: means a trust company, savings bank, savings and loan association, bank, credit union, or any other lending institution that lends, loans, or leases proceeds of a financing to the user or a user's designee. See Utah Code 11-17-2 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Liability insurance: includes : (i)  vehicle liability insurance; (ii)  residential dwelling liability insurance; and (iii)  making inspection of, and issuing a certificate of inspection upon, an elevator, boiler, machinery, or apparatus of any kind when done in connection with insurance on the elevator, boiler, machinery, or apparatus. See Utah Code 31A-1-301 Lien: A claim against real or personal property in satisfaction of a debt. Life insurance: means : (i)  insurance on a human life; and (ii)  insurance pertaining to or connected with human life. See Utah Code 31A-1-301 Long-term care insurance: includes : (i)  any of the following that provide directly or supplement long-term care insurance: (A)  a group or individual annuity or rider; or (B)  a life insurance policy or rider; (ii)  a policy or rider that provides for payment of benefits on the basis of: (A)  cognitive impairment; or (B)  functional capacity; or (iii)  a qualified long-term care insurance contract. See Utah Code 31A-1-301 Managed care organization: means a person: (a)  licensed as a health maintenance organization under Chapter 8, Health Maintenance Organizations and Limited Health Plans; or (b)  (i)  licensed under: (A)  Chapter 5, Domestic Stock and Mutual Insurance Corporations; (B)  Chapter 7, Nonprofit Health Service Insurance Corporations; or (C)  Chapter 14, Foreign Insurers; and (ii)  that requires an enrollee to use, or offers incentives, including financial incentives, for an enrollee to use, network providers. See Utah Code 31A-1-301 Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301 Money held in trust: means money maintained for the benefit of: (a)  one or more private individuals, including public employees; (b)  one or more public or private entities; or (c)  the owners of a quasi-public corporation. See Utah Code 63E-1-102 Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5 Mortgage: means a mortgage, trust deed, or other security device. See Utah Code 11-17-2 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Municipal: means of or relating to a municipality. See Utah Code 10-1-104 Municipality: means any incorporated city, town, or metro township in the state, including cities or towns operating under home rule charters. See Utah Code 11-17-2 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 Network provider: means a health care provider who has an agreement with a managed care organization to provide health care services to an enrollee with an expectation of receiving payment, other than coinsurance, copayments, or deductibles, directly from the managed care organization. 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 Outline of coverage: means a summary that explains an accident and health insurance policy. See Utah Code 31A-1-301 Participating: means a plan of insurance under which the insured is entitled to receive a dividend representing a share of the surplus of the insurer. See Utah Code 31A-1-301 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. 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 Personal lines insurance: means property and casualty insurance coverage sold for primarily noncommercial purposes to: (a)  an individual; or (b)  a family. See Utah Code 31A-1-301 Personally identifiable information: means information that identifies: (a)  a user by: (i)  name; (ii)  account number; (iii)  physical address; (iv)  email address; (v)  telephone number; (vi)  Social Security number; (vii)  credit card information; or (viii)  bank account information; (b)  a user as having requested or obtained specific materials or services from a governmental website; (c)  Internet sites visited by a user; or (d)  any of the contents of a user's data-storage device. See Utah Code 63D-2-102 Plan year: means : (a)  the year that is designated as the plan year in: (i)  the plan document of a group health plan; or (ii)  a summary plan description of a group health plan; (b)  if the plan document or summary plan description does not designate a plan year or there is no plan document or summary plan description: (i)  the year used to determine deductibles or limits; (ii)  the policy year, if the plan does not impose deductibles or limits on a yearly basis; or (iii)  the employer's taxable year if: (A)  the plan does not impose deductibles or limits on a yearly basis; and (B)  (I)  the plan is not insured; or (II)  the insurance policy is not renewed on an annual basis; or (c)  in a case not described in Subsection (144)(a) or (b), the calendar year. See Utah Code 31A-1-301 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 Policy summary: means a synopsis describing the elements of a life insurance policy. 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 Pollution: means any form of environmental pollution including water pollution, air pollution, pollution caused by solid waste disposal, thermal pollution, radiation contamination, or noise pollution. See Utah Code 11-17-2 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 Proceeding: includes an action or special statutory proceeding. See Utah Code 31A-1-301 producer: means a person licensed or required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Utah Code 31A-1-301 Project: means : (i)  an industrial park, land, interest in land, building, structure, facility, system, fixture, improvement, appurtenance, machinery, equipment, or any combination of them, whether or not in existence or under construction: (A)  that is suitable for industrial, manufacturing, warehousing, research, business, and professional office building facilities, commercial, shopping services, food, lodging, low income rental housing, recreational, or any other business purposes; (B)  that is suitable to provide services to the general public; (C)  that is suitable for use by any corporation, person, or entity engaged in health care services, including hospitals, nursing homes, extended care facilities, facilities for the care of persons with a physical or mental disability, and administrative and support facilities; or (D)  that is suitable for use by a state university for the purpose of aiding in the accomplishment of its authorized academic, scientific, engineering, technical, and economic development functions; (ii)  any land, interest in land, building, structure, facility, system, fixture, improvement, appurtenance, machinery, equipment, or any combination of them, used by any individual, partnership, firm, company, corporation, public utility, association, trust, estate, political subdivision, state agency, or any other legal entity, or its legal representative, agent, or assigns, for the reduction, abatement, or prevention of pollution, including the removal or treatment of any substance in process material, if that material would cause pollution if used without the removal or treatment; (iii)  an energy efficiency upgrade; (iv)  a renewable energy system; (v)  facilities, machinery, or equipment, the manufacturing and financing of which will maintain or enlarge domestic or foreign markets for Utah industrial products; or (vi)  any economic development or new venture investment fund to be raised other than from: (A)  municipal or county general fund money; (B)  money raised under the taxing power of any county or municipality; or (C)  money raised against the general credit of any county or municipality. See Utah Code 11-17-2 Project area: means the area surrounding the border between Salt Lake County and Utah County, commonly referred to as the Point of the Mountain. See Utah Code 63C-17-102 Property: includes both real and personal property. See Utah Code 68-3-12.5 Quorum: The number of legislators that must be present to do business. 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 real property: includes :Utah Code 68-3-12.5 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC 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 Reinsurer: means a person licensed in this state as an insurer with the authority to assume reinsurance. See Utah Code 31A-1-301 Renewable energy system: means a product, system, device, or interacting group of devices that is permanently affixed to real property and that produces energy from renewable resources, including: (a)  a photovoltaic system; (b)  a solar thermal system; (c)  a wind system; (d)  a geothermal system, including: (i)  a direct-use system; or (ii)  a ground source heat pump system; (e)  a micro-hydro system; or (f)  another renewable energy system approved by the governing body. See Utah Code 11-17-2 Research team: means the Snake Valley Research Team created in Section 63C-12-107. See Utah Code 63C-12-102 Residential dwelling liability insurance: means insurance against liability resulting from or incident to the ownership, maintenance, or use of a residential dwelling that is a detached single family residence or multifamily residence up to four units. See Utah Code 31A-1-301 Rider: means an endorsement to: (a)  an insurance policy; or (b)  an insurance certificate. See Utah Code 31A-1-301 Road: includes :Utah Code 68-3-12.5 Security: means a: (i)  note; (ii)  stock; (iii)  bond; (iv)  debenture; (v)  evidence of indebtedness; (vi)  certificate of interest or participation in a profit-sharing agreement; (vii)  collateral-trust certificate; (viii)  preorganization certificate or subscription; (ix)  transferable share; (x)  investment contract; (xi)  voting trust certificate; (xii)  certificate of deposit for a security; (xiii)  certificate of interest of participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease; (xiv)  commodity contract or commodity option; (xv)  certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the items listed in Subsections (171)(a)(i) through (xiv); or (xvi)  another interest or instrument commonly known as a security. See Utah Code 31A-1-301 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. Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5 Small employer: means , in connection with a health benefit plan and with respect to a calendar year and to a plan year, an employer who: (i)  (A)  employed at least one but not more than 50 eligible employees on business days during the preceding calendar year; or (B)  if the employer did not exist for the entirety of the preceding calendar year, reasonably expects to employ an average of at least one but not more than 50 eligible employees on business days during the current calendar year; (ii)  employs at least one employee on the first day of the plan year; and (iii)  for an employer who has common ownership with one or more other employers, is treated as a single employer under 26 U. See Utah Code 31A-1-301 State university: means an institution of higher education as described in Section 53B-2-101 and includes any nonprofit corporation or foundation created by and operating under their authority. See Utah Code 11-17-2 Statute: A law passed by a legislature. Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident. Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5 Town: means a municipality classified by population as a town under Section 10-2-301. See Utah Code 10-1-104 Trustee: A person or institution holding and administering property in trust. Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC Unincorporated: means not within a municipality. See Utah Code 10-1-104 United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Uphold: The decision of an appellate court not to reverse a lower court decision. User: means the person, whether natural or corporate, who will occupy, operate, maintain, and employ the facilities of, or manage and administer a project after the financing, acquisition, or construction of it, whether as owner, manager, purchaser, lessee, or otherwise. See Utah Code 11-17-2 User: means a person who accesses a governmental website. See Utah Code 63D-2-102 Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate. Writing: includes :Utah Code 68-3-12.5