Utah Code > Title 16 > Chapter 16 > Part 5 – Members
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Utah Code > Title 16 > Chapter 16 > Part 5 - Members
- 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
- Adult: means an individual who is 18 years old or older. 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 - 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:
(b) used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301 - articles of incorporation: means :
(a) the original articles; (b) a special law; (c) a charter; (d) an amendment; (e) restated articles; (f) articles of merger or consolidation; (g) a trust instrument; (h) another constitutive document for a trust or other entity that is not a corporation; and (i) an amendment to an item listed in Subsections (11)(a) through (h). See Utah Code 31A-1-301 - Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- 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
- Bequest: Property gifted by will.
- board of directors: means the group of persons with responsibility over, or management of, a corporation, however designated. See Utah Code 31A-1-301
- Business entity: means a claimant that is a:
(a) C corporation; (b) S corporation; (c) general partnership; (d) limited liability company; (e) limited liability partnership; (f) limited partnership; or (g) business entity similar to Subsections (1)(c) through (f): (i) with respect to which the business entity's income or losses are divided among and passed through to taxpayers; and (ii) as defined by the commission by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. See Utah Code 59-6-101 - Business plan: means the information required to be supplied to the commissioner under Subsections 31A-5-204(2)(i) and (j), including the information required when these subsections apply by reference under:
(a) Section 31A-8-205; or (b) Subsection 31A-9-205(2). 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 - claimant: means a resident or nonresident person. See Utah Code 59-6-101
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Contract: A legal written agreement that becomes binding when signed.
- contract holder: means a person who purchases a service contract. See Utah Code 31A-6a-101
- Corporation: means :
(a) any domestic corporation organized under Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act; (b) any foreign corporation engaged in business in this state under Sections 16-6a-1501 through 16-6a-1518; (c) any project entity defined in Section 11-13-103; or (d) a public agency, as defined in Section 11-13-103, to the extent it owns an interest in facilities providing additional project capacity, as defined in Section 11-13-103. See Utah Code 59-8-103 - 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 - Creditor: means a person, including an insured, having a claim, whether:
(a) matured; (b) unmatured; (c) liquidated; (d) unliquidated; (e) secured; (f) unsecured; (g) absolute; (h) fixed; or (i) contingent. See Utah Code 31A-1-301 - Decedent: means a deceased natural person. See Utah Code 59-11-102
- Decedent: A deceased person.
- Deficiency: is a s defined in Section 59-1-1402. See Utah Code 59-1-101
- Department: means the Insurance Department. See Utah Code 31A-1-301
- Devise: To gift property by will.
- Director: means a member of the board of directors of a corporation. See Utah Code 31A-1-301
- Engaging in business: means carrying on or causing to be carried on any activity through which goods or services are made or rendered by the taxpayer, except as provided in Section 59-7-102. See Utah Code 59-8-103
- 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
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Estate: means a nonresident estate or a resident estate. See Utah Code 59-6-101
- 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.
- Executor: A male person named in a will to carry out the decedent
- Executor: includes "administrator" when the subject matter justifies the use. See Utah Code 68-3-12.5
- Federal credit: means the maximum amount of the credit for state death taxes allowed by Section 2011 in respect to a decedent's taxable estate. See Utah Code 59-11-102
- 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.
- Gross receipts: means the totality of the consideration that the taxpayer receives for any good or service produced or rendered in the state without any deduction or expense paid or accrued in respect to it. See Utah Code 59-8-103
- 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 - Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- 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 - 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 - 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.
- 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
- Legatee: A beneficiary of a decedent
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
- Lien: A claim against real or personal property in satisfaction of a debt.
- Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301
- Minerals: means :
(a) metalliferous minerals as defined in Section 59-2-102; (b) nonmetalliferous minerals as defined in Section 59-2-102; or (c) a combination of Subsections (4)(a) and (b). See Utah Code 59-6-101 - minimum required capital: means the capital that must be constantly maintained by a stock insurance corporation as required by statute. See Utah Code 31A-1-301
- Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
- Mutual: means a mutual insurance corporation. See Utah Code 31A-1-301
- mutual corporation: means a mutual insurance corporation. See Utah Code 31A-1-301
- Nonresident: means a decedent who was domiciled outside of this state at the time of death. See Utah Code 59-11-102
- 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
- Other state: means any state in the United States other than this state, the District of Columbia, or any possession or territory of the United States. See Utah Code 59-11-102
- 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.
- Permanent surplus: means the surplus of an insurer or organization that is designated by the insurer or organization as permanent. See Utah Code 31A-1-301
- Person: includes any natural person, corporation, association, partnership, joint venture, syndicate, estate, trust, or other entity under which business or other activities may be conducted. See Utah Code 59-11-102
- 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 - Personal property: includes :Utah Code 68-3-12.5
- Personal property: All property that is not real property.
- Personal representative: means the executor, administrator, or trustee of a decedent's estate, or, if there is no executor, administrator, or trustee appointed, qualified, and acting within this state, then any person in actual or constructive possession of any property of the decedent. See Utah Code 59-11-102
- 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: includes , however designated:
(i) an assessment; (ii) a membership fee; (iii) a required contribution; or (iv) monetary consideration. See Utah Code 31A-1-301 - Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
- Probate: Proving a will
- 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
- Producer: means a person that:
(a) produces or extracts minerals from deposits in this state; or (b) is the first purchaser of minerals produced or extracted from deposits in this state. See Utah Code 59-6-101 - 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 - reimbursement insurance policy: means a policy of insurance providing coverage for all obligations and liabilities incurred by the service contract provider or warrantor under the terms of the service contract or vehicle protection product warranty issued by the provider or warrantor. See Utah Code 31A-6a-101
- 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
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Resident: means a decedent who was domiciled in this state at the time of death. See Utah Code 59-11-102
- 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 - Sell: means to exchange a contract of insurance:
(a) by any means; (b) for money or its equivalent; and (c) on behalf of an insurance company. See Utah Code 31A-1-301 - Service contract: includes any contract or agreement to perform or reimburse the service contract holder for any one or more of the following services:
(i) the repair or replacement of tires, wheels, or both on a motor vehicle damaged as a result of coming into contact with a road hazard; (ii) the removal of dents, dings, or creases on a motor vehicle that can be repaired using the process of paintless dent removal without affecting the existing paint finish and without replacing vehicle body panels, sanding, bonding, or painting; (iii) the repair of chips or cracks in or the replacement of a motor vehicle windshield as a result of damage caused by a road hazard, that is primary to the coverage offered by the motor vehicle owner's motor vehicle insurance policy; or (iv) the replacement of a motor vehicle key or key-fob if the key or key-fob becomes inoperable, lost, or stolen, except that the replacement of lost or stolen property is limited to only the replacement of a lost or stolen motor vehicle key or key-fob. See Utah Code 31A-6a-101 - 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.
- 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
- Statute: A law passed by a legislature.
- Stock corporation: means a stock insurance corporation. See Utah Code 31A-1-301
- Surplus: means the excess of assets over the sum of paid-in capital and liabilities. See Utah Code 31A-1-301
- tax credit: means a tax credit that a claimant, estate, or trust may claim:
(a) as provided by statute; and (b) regardless of whether the claimant, estate, or trust has a tax liability: (i) for a tax imposed under: (A) Chapter 7, Corporate Franchise and Income Taxes; (B) Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act; or (C) Chapter 10, Individual Income Tax Act; and (ii) for the taxable year for which the claimant, estate, or trust claims the tax credit. See Utah Code 59-6-101 - Tax return: means a return required by:
(a) Chapter 7, Corporate Franchise and Income Taxes; (b) Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act; or (c) Chapter 10, Individual Income Tax Act. See Utah Code 59-6-101 - Taxable estate: means "taxable estate" as defined in Section 2051, Internal Revenue Code. See Utah Code 59-11-102
- Taxable year: means the taxable year of a claimant, estate, or trust under:
(a) Chapter 7, Corporate Franchise and Income Taxes; (b) Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act; or (c) Chapter 10, Individual Income Tax Act. See Utah Code 59-6-101 - Taxpayer: means any corporation, other than an eleemosynary, religious, or charitable institution, any insurance company, credit union, or Subchapter S organization, any nonprofit hospital, educational, welfare, or employee representation organization, or any mutual benefit association engaged in business in the state that is not otherwise required to pay income or franchise tax to the state under Title 59, Chapter 7, Corporate Franchise and Income Taxes. See Utah Code 59-8-103
- Transfer: means "transfer" as described in Section 2001, Internal Revenue Code. See Utah Code 59-11-102
- Trust: means a nonresident trust or a resident trust. See Utah Code 59-6-101
- Trustee: A person or institution holding and administering property in trust.
- United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
- Vehicle protection product: includes :
(i) a vehicle protection product warranty; (ii) an alarm system; (iii) a body part marking product; (iv) a steering lock; (v) a window etch product; (vi) a pedal and ignition lock; (vii) a fuel and ignition kill switch; and (viii) an electronic, radio, or satellite tracking device. See Utah Code 31A-6a-101 - Vehicle protection product warranty: means a written agreement by a warrantor that provides that if the vehicle protection product fails to prevent the theft of the motor vehicle, or aid in the recovery of the motor vehicle within a time period specified in the warranty, not exceeding 30 days after the day on which the motor vehicle is reported stolen, the warrantor will reimburse the warranty holder for incidental costs specified in the warranty, not exceeding $5,000, or in a specified fixed amount not exceeding $5,000. See Utah Code 31A-6a-101
- Warrantor: means a person who is contractually obligated to the warranty holder under the terms of a vehicle protection product warranty. See Utah Code 31A-6a-101
- Warranty holder: means the person who purchases a vehicle protection product, any authorized transferee or assignee of the purchaser, or any other person legally assuming the purchaser's rights under the vehicle protection product warranty. See Utah Code 31A-6a-101
- Withholding return: means a return a producer is required to file under this chapter. See Utah Code 59-6-101
- Writing: includes :Utah Code 68-3-12.5