Utah Code > Title 31A > Chapter 10 – Annuities
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Part 2 | Nontraditional Insurers | 31A-10-201 – 31A-10-203 |
Terms Used In Utah Code > Title 31A > Chapter 10 - Annuities
- Contract: A legal written agreement that becomes binding when signed.
- 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 - 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
- Multi-channel video or audio service provider: includes the following except as specifically exempted by state or federal law:
(i) a cable operator; (ii) a CATV provider; (iii) a multi-point distribution provider; (iv) a MMDS provider; (v) a SMATV operator; (vi) a direct-to-home satellite service provider; or (vii) a DBS provider. See Utah Code 59-26-102 - Mutual: means a mutual insurance corporation. 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.
- Person: means :Utah Code 68-3-12.5
- 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
- United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5