Utah Code > Title 16 > Chapter 6a > Part 8 – Directors and Officers
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Terms Used In Utah Code > Title 16 > Chapter 6a > Part 8 - Directors and Officers
- account: means a trust account established at a depository institution in this state pursuant to a medical care savings account program to pay the eligible medical expenses of:
(a) an employee or account holder; and (b) the dependents of the employee or account holder. See Utah Code 31A-32a-102 - Account administrator: means any of the following:
(a) a depository institution as defined in Section 7-1-103; (b) a trust company as defined in Section 7-1-103; (c) an insurance company authorized to do business in this state under this title; (d) a third party administrator licensed under Section 31A-25-203; and (e) an employer if the employer has a self-insured health plan under ERISA. See Utah Code 31A-32a-102 - Account holder: means the resident individual who establishes a medical care savings account or for whose benefit a medical care savings account is established. See Utah Code 31A-32a-102
- Adjudicative proceeding: means :Utah Code 68-3-12.5
- Administrator: means the same as that term is defined in Subsection (182). See Utah Code 31A-1-301
- Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
- Advertising: includes the following, if the requirements of Subsection (1)(a) are met:
(i) a written, electronic, or printed communication; (ii) a communication by means of a recorded telephone message; (iii) a communication transmitted on radio, television, the Internet, or similar communications media; and (iv) a film strip, motion picture, or video. See Utah Code 31A-36-102 - Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
- 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 - Air barrier system: means air barrier material, a system, or an assembly that is specifically and primarily designed to minimize the passage of air through the building thermal envelope and the assemblies when installed in or on a dwelling. See Utah Code 19-1-402 v2
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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
- 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.
- 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.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- 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 - Appraisal: A determination of property value.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Arrest: Taking physical custody of a person by lawful authority.
- Articles of incorporation: include :
(a) amended articles of incorporation; (b) restated articles of incorporation; (c) articles of merger; and (d) a document of a similar import to the documents described in Subsections (3)(a) through (c). See Utah Code 16-6a-102 - Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authority board: means the board of directors of a local building authority, as described in Section 17D-2-203. See Utah Code 17D-2-102
- Authorized agency: means :
(a) the attorney general; (b) the state fire marshal; (c) any state law enforcement agency; (d) any criminal investigative department or agency of the United States; (e) a district attorney; (f) the prosecuting attorney of any municipality or county; (g) the department; or (h) the disciplinary section of an agency licensing a service provider. See Utah Code 31A-31-102 - 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 - 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
- Bequest: Property gifted by will.
- Board: means the board of trustees of a public infrastructure district. See Utah Code 17D-4-102
- board of directors: means the body authorized to manage the affairs of a domestic or foreign nonprofit corporation. See Utah Code 16-6a-102
- Bond: includes a bond, note, or other instrument issued under this chapter evidencing an indebtedness of a local building authority. See Utah Code 17D-2-102
- Business of life settlements: includes the following:
(a) offering a life settlement; (b) soliciting a life settlement; (c) negotiating a life settlement; (d) procuring a life settlement; (e) effectuating a life settlement; (f) purchasing a life settlement; (g) investing in a life settlement; (h) financing a life settlement; (i) monitoring a life settlement; (j) tracking a life settlement; (k) underwriting a life settlement; (l) selling a life settlement; (m) transferring a life settlement; (n) assigning a life settlement; (o) pledging a life settlement; (p) hypothecating a life settlement; or (q) in any other manner acquiring an interest in an insurance policy by means of a life settlement. See Utah Code 31A-36-102 - Bylaws: includes :
(i) amended bylaws; and (ii) restated bylaws. See Utah Code 16-6a-102 - 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 - Chronically ill: means :
(a) being unable to perform at least two activities of daily living, such as eating, toileting, moving from one place to another, bathing, dressing, or continence; (b) requiring substantial supervision for protection from threats to health and safety because of severe cognitive impairment; or (c) having a level of disability similar to that described in Subsection (3)(a). See Utah Code 31A-36-102 - City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
- Class: means a group of memberships that has the same right with respect to voting, dissolution, redemption, transfer, or other characteristics. See Utah Code 16-6a-102
- Clean fuel: means :
(a) propane, natural gas, or electricity; or (b) other fuel that meets the clean fuel vehicle standards in the federal Clean Air Act Amendments of 1990, 42 U. See Utah Code 19-1-402 - Clean vehicle: means a vehicle that:
(a) uses a clean fuel; or (b) is an electric-hybrid vehicle. See Utah Code 19-1-402 - Commission: means the Conservation Commission, created in Section 4-18-104. See Utah Code 17D-3-102
- Commissioner: means the commissioner of the department. See Utah Code 17D-3-102
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Conservation district: means a limited purpose local government entity, as described in Section 17D-3-103, that operates under, is subject to, and has the powers set forth in this chapter. See Utah Code 17D-3-102
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- 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 - 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.
- Creating entity: means the county, municipality, or development authority that approves the creation of a public infrastructure district. See Utah Code 17D-4-102
- Creating local entity: means the local entity that creates or created the local building authority. See Utah Code 17D-2-102
- 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 - Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Deductible: means the total deductible for an employee and all the dependents of that employee for a calendar year. See Utah Code 31A-32a-102
- 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.
- Delegate: means a person elected or appointed to vote in a representative assembly:
(a) for the election of a director; or (b) on matters other than the election of a director. See Utah Code 16-6a-102 - Deliver: includes delivery by mail or another means of transmission authorized by Section 16-6a-103, except that delivery to the division means actual receipt by the division. See Utah Code 16-6a-102
- Department: means the Department of Agriculture and Food, created in Section 4-2-102. See Utah Code 17D-3-102
- Department: means the Insurance Department. See Utah Code 31A-1-301
- Depository institution: is a s defined in Section 7-1-103. See Utah Code 31A-36-102
- Development authority: means :
(a) the Utah Inland Port Authority created in Section 11-58-201; (b) the Point of the Mountain State Land Authority created in Section 11-59-201; or (c) the military installation development authority created in Section 63H-1-201. See Utah Code 17D-4-102 - Devise: To gift property by will.
- Director: means a member of the board of directors. See Utah Code 16-6a-102
- 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 - Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Distribution: means the payment of a dividend or any part of the income or profit of a nonprofit corporation to the nonprofit corporation's:
(i) members; (ii) directors; or (iii) officers. See Utah Code 16-6a-102 - District applicant: means the person proposing the creation of a public infrastructure district. See Utah Code 17D-4-102
- Division: means a division of a public infrastructure district:
(a) that is relatively equal in number of eligible voters or potential eligible voters to all other divisions within the public infrastructure district, taking into account existing or potential developments which, when completed, would increase or decrease the population within the public infrastructure district; and (b) which a member of the board represents. See Utah Code 17D-4-102 - Division: means the Division of Corporations and Commercial Code. See Utah Code 16-6a-102
- Donor: The person who makes a gift.
- Dwelling: means a house, multi-family dwelling, apartment complex, or other residential type building. See Utah Code 19-1-402 v2
- Electric vehicle: means a vehicle powered by an electric motor that draws current from rechargeable storage batteries, fuel cells, or other sources of electric current and does not need carbon based fuel for operation. See Utah Code 19-1-402 v2
- Electric-hybrid vehicle: means a vehicle:
(a) primarily powered by an electric motor that draws current from: (i) rechargeable storage batteries; (ii) fuel cells; or (iii) other sources of electric current; and (b) that also operates on or is capable of operating on a nonelectrical source of power. See Utah Code 19-1-402 - 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 - Employee: means the individual for whose benefit or for the benefit of whose dependents a medical care savings account is established. See Utah Code 31A-32a-102
- Energy-efficient building envelope improvements: means an insulation and air barrier system that meets the prescriptive criteria for insulation and air barrier systems established by the 2021 International Energy Conservation Code. See Utah Code 19-1-402 v2
- Entity: includes :
(a) a domestic or foreign corporation; (b) a domestic or foreign nonprofit corporation; (c) a limited liability company; (d) a profit or nonprofit unincorporated association; (e) a business trust; (f) an estate; (g) a partnership; (h) a trust; (i) two or more persons having a joint or common economic interest; (j) a state; (k) the United States; or (l) a foreign government. See Utah Code 16-6a-102 - ERISA: means the Employee Retirement Income Security Act of 1974, Public Law 93-406, 88 Stat. See Utah Code 31A-32a-102
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Escrow: means :
(i) a transaction that effects the sale, transfer, encumbering, or leasing of real property, when a person not a party to the transaction, and neither having nor acquiring an interest in the title, performs, in accordance with the written instructions or terms of the written agreement between the parties to the transaction, any of the following actions: (A) the explanation, holding, or creation of a document; or (B) the receipt, deposit, and disbursement of money; (ii) a settlement or closing involving: (A) a mobile home; (B) a grazing right; (C) a water right; or (D) other personal property authorized by the commissioner. See Utah Code 31A-1-301 - Escrow agent: means an agency title insurance producer meeting the requirements of Sections 31A-4-107, 31A-14-211, and 31A-23a-204, who is acting through an individual title insurance producer licensed with an escrow subline of authority. See Utah Code 31A-1-301
- 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.
- Executive director: means the executive director of the department appointed pursuant to Section 19-1-104. See Utah Code 19-1-103
- facilities: includes any structure, building, system, land, water right, water, or other real or personal property required to provide a service that a special service district is authorized to provide, including any related or appurtenant easement or right-of-way, improvement, utility, landscaping, sidewalk, road, curb, gutter, equipment, or furnishing. See Utah Code 17D-1-102
- 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.
- 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 - Financial loss: includes :
(a) out-of-pocket expenses; (b) reasonable attorney fees; (c) repair and replacement costs; or (d) claims payments. See Utah Code 31A-31-102 - Financing entity: includes , if the requirements of Subsection (5)(a) are met, the following:
(i) an underwriter; (ii) a placement agent; (iii) an enhancer of credit; (iv) a lender; (v) a purchaser of securities; and (vi) a purchaser of a policy from a life settlement provider. See Utah Code 31A-36-102 - 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
- Foreign insurer: means an insurer domiciled outside of this state, including an alien insurer. See Utah Code 31A-1-301
- Foreign nonprofit corporation: means an entity:
(a) incorporated under a law other than the laws of this state; and (b) that would be a nonprofit corporation if formed under the laws of this state. See Utah Code 16-6a-102 - 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 - Form: means , in addition to a form as defined in Section 31A-1-301:
(a) a life settlement; (b) a disclosure to an owner; (c) a notice of intent to settle; or (d) a verification of coverage. See Utah Code 31A-36-102 - Fraud: Intentional deception resulting in injury to another.
- Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
- Fund: means the Clean Fuels and Vehicle Technology Fund created in Section 19-1-403. See Utah Code 19-1-402
- 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) the legislative body of the county or municipality that creates the special service district, to the extent that the county or municipal legislative body has not delegated authority to an administrative control board created under Section 17D-1-301; or (b) the administrative control board of the special service district, to the extent that the county or municipal legislative body has delegated authority to an administrative control board created under Section 17D-1-301. See Utah Code 17D-1-102 - Governing body: means :
(a) for a county, city, or town, the legislative body of the county, city, or town; (b) for a school district, the local school board for the school district; (c) for a local district, the local district's board of trustees; and (d) for a special service district, the special service district's governing body, as defined in Section 17D-1-102. See Utah Code 17D-2-102 - Governing document: means the document governing a public infrastructure district to which the creating entity agrees before the creation of the public infrastructure district, as amended from time to time, and subject to the limitations of Title 17B, Chapter 1, Provisions Applicable to All Local Districts, and this chapter. See Utah Code 17D-4-102
- Government vehicle: includes a metropolitan rapid transit motor vehicle, bus, truck, law enforcement vehicle, or emergency vehicle. See Utah Code 19-1-402
- Guaranteed bonds: means bonds:
(a) issued by a special service district; and (b) the debt service of which is guaranteed by one or more taxpayers owning property within the special service district. See Utah Code 17D-1-102 - 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 - Higher deductible: means a deductible of not less than $1,000. See Utah Code 31A-32a-102
- Incremental cost: means the difference between the cost of the OEM vehicle and the same vehicle model manufactured without the clean fuel fueling system. See Utah Code 19-1-402
- Individual: means :
(a) a natural person; (b) the estate of an incompetent individual; or (c) the estate of a deceased individual. See Utah Code 16-6a-102 - Individual: means a natural person. See Utah Code 31A-1-301
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- 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 - Insulation: means a material or system that is specifically and primarily designed to reduce the heat loss or gain of a dwelling unit when installed in or on the dwelling unit. See Utah Code 19-1-402 v2
- 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 - Insurer: means any person or aggregation of persons:
(a) doing insurance business, as defined in Section 31A-1-301; or (b) subject to the supervision of the commissioner under: (i) this title; or (ii) any equivalent insurance supervisory official of another state. See Utah Code 31A-31-102 - 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
- Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
- 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
- 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 - License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
- Life expectancy: means the mean number of months an individual insured under a policy to be settled can be expected to live considering medical records and appropriate experiential data. See Utah Code 31A-36-102
- 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 - Life settlement: includes :
(i) the transfer for compensation or value of ownership or beneficial interest in a trust or other entity that owns a policy if the trust or other entity is formed or operated for the principal purpose of acquiring one or more policies; or (ii) a premium finance loan made for a policy by a lender to an owner on, before, or after the date of issuance of the policy if the owner: (A) receives on the date of the premium finance loan a guarantee of a future life settlement value of the policy; or (B) agrees on the date of the premium finance loan to sell the policy or any portion of the policy's death benefit on a date following the issuance of the policy. See Utah Code 31A-36-102 - Life settlement producer: means a person licensed in the state as a life insurance producer that on behalf of an owner and for consideration offers or attempts to negotiate a life settlement between the owner and one or more life settlement providers. See Utah Code 31A-36-102
- Life settlement provider: means a person other than an owner that enters into or effectuates a life settlement. See Utah Code 31A-36-102
- Life settlement purchaser: means a person that, to derive an economic benefit:
(i) provides a sum of money as consideration for a policy or an interest in the death benefits of a policy; or (ii) owns, acquires, or is entitled to a beneficial interest in a trust that: (A) owns a life settlement; or (B) is the beneficiary of a policy that has been or will be the subject of a life settlement. See Utah Code 31A-36-102 - Limited tax bond: means a bond:
(i) that is directly payable from and secured by ad valorem property taxes that are levied: (A) by a public infrastructure district that issues the bond; and (B) on taxable property within the district; (ii) that is a general obligation of the public infrastructure district; and (iii) for which the ad valorem property tax levy for repayment of the bond does not exceed the property tax levy rate limit established under Section 17D-4-303 for any fiscal year, except as provided in Subsection 17D-4-301(8). See Utah Code 17D-4-102 - Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Local entity: means a county, city, town, school district, local district, or special service district. See Utah Code 17D-2-102
- Local health department: means a local health department as defined in Title 26A, Chapter 1, Part 1, Local Health Department Act. See Utah Code 19-1-103
- 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 - Member: includes :
(i) "voting member"; and (ii) a shareholder in a water company. See Utah Code 16-6a-102 - Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301
- Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
- Mortgage: means any instrument under which property may be encumbered as security for an obligation, including a mortgage, trust deed, indenture, pledge, assignment, security agreement, and financing statement. See Utah Code 17D-2-102
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mutual: means a mutual insurance corporation. See Utah Code 31A-1-301
- Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
- nonadmitted insurer: means an insurer:
(i) not holding a valid certificate of authority to do an insurance business in this state; or (ii) transacting business not authorized by a valid certificate. See Utah Code 31A-1-301 - Notice: means the same as that term is defined in Section 16-6a-103. See Utah Code 16-6a-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.
- OEM vehicle: means a vehicle manufactured by the original vehicle manufacturer or its contractor as a clean vehicle. See Utah Code 19-1-402
- Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
- 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.
- Owner: means any of the following who resides in this state and seeks to enter into a life settlement:
(i) the owner of a policy; or (ii) the holder of a certificate of a group policy. See Utah Code 31A-36-102 - 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.
- Party related to a director: means :
(a) the spouse of the director; (b) a child of the director; (c) a grandchild of the director; (d) a sibling of the director; (e) a parent of the director; (f) the spouse of an individual described in Subsections (37)(b) through (e); (g) an individual having the same home as the director; (h) a trust or estate of which the director or another individual specified in this Subsection (37) is a substantial beneficiary; or (i) any of the following of which the director is a fiduciary: (i) a trust; (ii) an estate; (iii) an incompetent; (iv) a conservatee; or (v) a minor. See Utah Code 16-6a-102 - 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 :Utah Code 68-3-12.5
- Person: means an:
(a) individual; or (b) entity. See Utah Code 16-6a-102 - Person: means an individual, trust, firm, estate, company, corporation, partnership, association, state, state or federal agency or entity, municipality, commission, or political subdivision of a state. See Utah Code 19-1-103
- Person: means an individual, firm, company, corporation, association, limited liability company, partnership, organization, society, business trust, service provider, or any other legal entity. See Utah Code 31A-31-102
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
- 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: means :
(a) an individual or group life insurance policy; (b) an individual or group annuity policy; (c) a group life insurance certificate; (d) a group annuity certificate; or (e) a life insurance policy or an annuity policy, whether or not delivered or issued for delivery in Utah: - Account administrator: means any of the following: