Terms Used In Utah Code > Title 31A > Chapter 23a > Part 6 - Managing General Agents

• Actuary: is a s defined by the commissioner by rule, made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. See Utah Code 31A-1-301
• Affected area: means :

  (a)	the area that is designated in statute, county ordinance, or municipal ordinance as the area for which public notice must be provided;

  (b)	in relation to a statute, if no affected area is designated in the statute, the affected area is the state;

  (c)	in relation to a county ordinance, if no affected area is designated in the county ordinance, the affected area is the county; or

  (d)

  in relation to a municipal ordinance, if no affected area is designated in the municipal ordinance, the affected area is the municipality. See Utah Code 63G-30-101 Allegation: something that someone says happened. 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. 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. Armed forces: means the United States Army, Navy, Air Force, Marine Corps, Space Force, and Coast Guard. See Utah Code 68-3-12.5 Authority: means the Military Installation Development Authority, created under Section 63H-1-201. See Utah Code 63H-1-102 Base taxable value: means : (a)  for military land or other land that was exempt from a property tax at the time that a project area was created that included the military land or other land, a taxable value of zero; or (b)  for private property that is included in a project area, the taxable value of the property within any portion of the project area, as designated by board resolution, from which the property tax allocation will be collected, as shown upon the assessment roll last equalized: (i)  before the year in which the authority creates the project area; or (ii)  before the year in which the project area plan is amended, for property added to a project area by an amendment to a project area plan. See Utah Code 63H-1-102 Board: means the governing body of the authority created under Section 63H-1-301. See Utah Code 63H-1-102 board of directors: means the group of persons with responsibility over, or management of, a corporation, however designated. 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 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 Dedicated tax collections: means the property tax that remains after the authority is paid the property tax allocation the authority is entitled to receive under Subsection 63H-1-501(1), for a property tax levied by: (i)  a county, including a district the county has established under Subsection 17-34-3(2) to levy a property tax under Title 17, Chapter 34, Municipal-Type Services to Unincorporated Areas; or (ii)  an included municipality. See Utah Code 63H-1-102 Develop: means to engage in development. See Utah Code 63H-1-102 Development: includes the demolition, construction, reconstruction, modification, expansion, maintenance, operation, or improvement of a building, facility, utility, landscape, parking lot, park, trail, or recreational amenity. See Utah Code 63H-1-102 Development project: means a project to develop land within a project area. See Utah Code 63H-1-102 Fiduciary: A trustee, executor, or administrator. 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. 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 Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Government official: means an individual elected or appointed to a state office, county office, municipal office, school board, school district office, special district office, or special service district office. See Utah Code 63G-30-101 Highway: includes :Utah Code 68-3-12.5 Included municipality: means a municipality, some or all of which is included within a project area. See Utah Code 63H-1-102 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 Insurer: is a s defined in Section 31A-1-301, except that the following persons or similar persons are not insurers for purposes of 7: (a)  a risk retention group as defined in: (i)  the Superfund Amendments and Reauthorization Act of 1986, Pub. See Utah Code 31A-23a-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 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 Managing general agent: means a person that: (i)  manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office; (ii)  acts as an agent for the insurer whether it is known as a managing general agent, manager, or other similar term; (iii)  produces and underwrites an amount of gross direct written premium equal to, or more than, 5% of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year: (A)  with or without the authority; (B)  separately or together with an affiliate; and (C)  directly or indirectly; and (iv)  (A)  adjusts or pays claims in excess of an amount determined by the commissioner; or (B)  negotiates reinsurance on behalf of the insurer. See Utah Code 31A-23a-102 MIDA accommodations tax: means the tax imposed under Section 63H-1-205. See Utah Code 63H-1-102 MIDA energy tax: means the tax levied under Section 63H-1-204. See Utah Code 63H-1-102 Military: includes , in relation to property, property that is occupied by the military and is owned by the government of the United States or the state. See Utah Code 63H-1-102 Military land: means land or a facility, including leased land or a leased facility, that is part of or affiliated with a base, camp, post, station, yard, center, or installation under the jurisdiction of the United States Department of Defense, the United States Department of Veterans Affairs, or the Utah National Guard. See Utah Code 63H-1-102 Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5 Municipal energy tax: means a municipal energy sales and use tax under 3. See Utah Code 63H-1-102 Municipal services revenue: means revenue that the authority: (a)  collects from the authority's: (i)  levy of a municipal energy tax; (ii)  levy of a MIDA energy tax; (iii)  levy of a telecommunications tax; (iv)  imposition of a transient room tax; and (v)  imposition of a resort communities tax; (b)  receives under Subsection 59-12-205(2)(a)(ii)(B); and (c)  receives as dedicated tax collections. See Utah Code 63H-1-102 Notice summary statement: means a statement that includes the following in relation to a public notice: (a)  a title that accurately describes the purpose or subject of the public notice; (b)  the name of the public body, or the name and title of the government official, that provides the public notice; (c)  a statement that clearly describes the matter for which the public notice is given; (d)  a general description of the area to which the public notice relates; (e)  the dates and deadlines applicable to the matter for which the public notice is given; and (f)  information specifying where a person may obtain a copy of the complete public notice, including: (i)  the web address for the Utah Public Notice Website; (ii)  if the public body or government official maintains a public website, the web address where the public notice is located; (iii)  the address of a physical location where a copy of the public notice may be viewed or obtained; and (iv)  a telephone number that an individual may call to request a copy of the public notice. See Utah Code 63G-30-101 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: 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. 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 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 area: means the land, including military land, whether consisting of a single contiguous area or multiple noncontiguous areas, described in a project area plan or draft project area plan, where the development project set forth in the project area plan or draft project area plan takes place or is proposed to take place. See Utah Code 63H-1-102 Project area budget: means a multiyear projection of annual or cumulative revenues and expenses and other fiscal matters pertaining to a project area that includes: (a)  the base taxable value of property in the project area; (b)  the projected property tax allocation expected to be generated within the project area; (c)  the amount of the property tax allocation expected to be shared with other taxing entities; (d)  the amount of the property tax allocation expected to be used to implement the project area plan, including the estimated amount of the property tax allocation to be used for land acquisition, public improvements, infrastructure improvements, and loans, grants, or other incentives to private and public entities; (e)  the property tax allocation expected to be used to cover the cost of administering the project area plan; (f)  if the property tax allocation is to be collected at different times or from different portions of the project area, or both: (i)  (A)  the tax identification numbers of the parcels from which the property tax allocation will be collected; or (B)  a legal description of the portion of the project area from which the property tax allocation will be collected; and (ii)  an estimate of when other portions of the project area will become subject to collection of the property tax allocation; and (g)  for property that the authority owns or leases and expects to sell or sublease, the expected total cost of the property to the authority and the expected selling price or lease payments. See Utah Code 63H-1-102 Project area plan: means a written plan that, after the plan's effective date, guides and controls the development within a project area. See Utah Code 63H-1-102 Property: includes both real and personal property. See Utah Code 68-3-12.5 Property insurance: means insurance against loss or damage to real or personal property of every kind and any interest in that property: (i)  from all hazards or causes; and (ii)  against loss consequential upon the loss or damage including vehicle comprehensive and vehicle physical damage coverages. See Utah Code 31A-1-301 Property tax: includes a privilege tax imposed under Title 59, Chapter 4, Privilege Tax, except as described in Subsection (20)(b), and each levy on an ad valorem basis on tangible or intangible personal or real property. See Utah Code 63H-1-102 Property tax allocation: means the difference between: (a)  the amount of property tax revenues generated each tax year by all taxing entities from the area within a project area designated in the project area plan as the area from which the property tax allocation is to be collected, using the current assessed value of the property; and (b)  the amount of property tax revenues that would be generated from that same area using the base taxable value of the property. See Utah Code 63H-1-102 Public body: means the same as that term is defined in Section 52-4-103. See Utah Code 63G-30-101 Public entity: means : (a)  the state, including each department or agency of the state; or (b)  a political subdivision of the state, including the authority or a county, city, town, school district, special district, special service district, or interlocal cooperation entity. See Utah Code 63H-1-102 Public infrastructure and improvements: includes : (i)  facilities, lines, or systems that harness geothermal energy or provide water, chilled water, steam, sewer, storm drainage, natural gas, electricity, or telecommunications; (ii)  streets, roads, curb, gutter, sidewalk, walkways, tunnels, solid waste facilities, parking facilities, public transportation facilities, and parks, trails, and other recreational facilities; (iii)  snowmaking equipment and related improvements that can also be used for water storage or fire suppression purposes; and (iv)  a building and related improvements for occupancy by the public, the authority, the military, or military-related entities. See Utah Code 63H-1-102 Public location: means : (a)  a location that is open to the general public, regardless of whether the location is owned by a public entity, a private entity, or an individual; or (b)  a location that is not open to the general public, but where the notice is clearly visible to, and may easily be read by, an individual while the individual is present in a location described in Subsection (5)(a). See Utah Code 63G-30-101 Public notice: means a notice that is required to be provided to the public by a public body or a government official. See Utah Code 63G-30-101 Quorum: The number of legislators that must be present to do business. 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. 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 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. Resort communities tax: means a sales and use tax imposed under Section 59-12-401. See Utah Code 63H-1-102 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. 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. Surplus: means the excess of assets over the sum of paid-in capital and liabilities. See Utah Code 31A-1-301 Taxable value: means the value of property as shown on the last equalized assessment roll. See Utah Code 63H-1-102 Telecommunications tax: means a telecommunications license tax under 4. See Utah Code 63H-1-102 Terminate: means : (a)  the cancellation of the relationship between: (i)  an individual licensee or agency licensee and a particular insurer; or (ii)  an individual licensee and a particular agency licensee; or (b)  the termination of: (i)  an individual licensee's or agency licensee's authority to transact insurance on behalf of a particular insurance company; or (ii)  an individual licensee's authority to transact insurance on behalf of a particular agency licensee. See Utah Code 31A-23a-102 Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5 Transient room tax: means a tax under Section 59-12-352. See Utah Code 63H-1-102 United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Utah Public Notice Website: means the Utah Public Notice Website created in Section 63A-16-601. See Utah Code 63G-30-101