Terms Used In Utah Code > Title 17 > Chapter 21a > Part 1 - General Provisions

• 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 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 Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed. Bail bond: means a bail bond insurance product for a specified monetary amount that is: (a)  executed by a bail bond producer licensed in accordance with Section 31A-35-401; and (b)  issued to a court, magistrate, or authorized officer to secure: (i)  the release of a person from incarceration; and (ii)  the appearance of the released person at court hearings the person is required to attend. See Utah Code 31A-35-102 Bail bond agency: means any sole proprietor or entity that: (a)  is licensed under Subsection 31A-35-404(1) or (2); (b)  (i)  is the agent of a surety insurer that sells a bail bond in connection with judicial proceedings; (ii)  pledges the assets of a letter of credit from a Utah depository institution for a bail bond in connection with judicial proceedings; or (iii)  pledges personal or real property, or both, as security for a bail bond in connection with judicial proceedings; and (c)  receives or is promised money or other things of value for a service described in Subsection (2)(b). See Utah Code 31A-35-102 Bail bond producer: means an individual who: (a)  is appointed by: (i)  a surety insurer that sells bail bonds; or (ii)  a bail bond agency licensed under this chapter; (b)  is appointed to execute or countersign undertakings of bail in connection with judicial proceedings; and (c)  receives or is promised money or other things of value for engaging in an act described in Subsection (3)(b). See Utah Code 31A-35-102 Certificate: means a certificate of authority issued under this chapter to allow an insurer to operate as a surety insurer. See Utah Code 31A-35-102 Commission: means the Utah Electronic Recording Commission established in Section 17-21a-302. See Utah Code 17-21a-102 Contract: A legal written agreement that becomes binding when signed. Contractor: means a private entity seeking to contract with or currently contracting with the department to establish or operate a private correctional facility. See Utah Code 64-13d-102 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. Correctional services: means those services necessary for the operation of a correctional facility, including the provision of food, clothing, security, programs, and health care. See Utah Code 64-13d-102 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 division: means the Division of Correctional Industries. See Utah Code 64-13a-3 Document: means information that is: (a)  inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form; and (b)  eligible to be recorded in the land records maintained by the county recorder. See Utah Code 17-21a-102 Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Utah Code 17-21a-102 Facility: means a private correctional facility established or operated under a contract with the department. See Utah Code 64-13d-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 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 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 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 License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301 Order: means an order of the commissioner. 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: 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, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government, or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Utah Code 17-21a-102 Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC Premium: means the specified monetary amount used to purchase a bail bond. See Utah Code 31A-35-102 Principal: means a person that: (a)  guarantees the performance of a bail bond; or (b)  owns not less than 10% of the bail bond agency. See Utah Code 31A-35-102 Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5 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 Rebate: means a licensee paying, allowing, giving, or offering to pay, allow, or give, directly or indirectly: (i)  a refund of premium or portion of premium; (ii)  a refund of commission or portion of commission; (iii)  a refund of all or a portion of a consultant fee; or (iv)  providing services or other benefits not specified in an insurance or annuity contract. 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. 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 State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Utah Code 17-21a-102 Surety insurer: means an insurer that: (a)  is licensed under Chapter 4, Insurers in General, Chapter 5, Domestic Stock and Mutual Insurance Corporations, or Chapter 14, Foreign Insurers; (b)  receives a certificate under this title; and (c)  sells bail bonds in connection with judicial proceedings. See Utah Code 31A-35-102 Testimony: Evidence presented orally by witnesses during trials or before grand juries. United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5