Terms Used In Utah Code > Title 31A > Chapter 35 > Part 4 - Certificate of Authority

• Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
• 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: (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 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 Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account. 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 Board: means the Bail Bond Oversight Board created in Section 31A-35-201. See Utah Code 31A-35-102 Case action plan: means a document developed by the Department of Corrections that identifies: (a)  the program priorities for the treatment of the offender, including the criminal risk factors as determined by risk, needs, and responsivity assessments conducted by the department; and (b)  clearly defined completion requirements. See Utah Code 64-13-1 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 Correctional facility: means any facility operated to house offenders in a secure or nonsecure setting: (a)  by the department; or (b)  under a contract with the department. See Utah Code 64-13-1 Department: means the Department of Corrections. See Utah Code 64-13-1 Department: means the Insurance Department. See Utah Code 31A-1-301 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 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. Evidence-based: means a program or practice that has had multiple randomized control studies or a meta-analysis demonstrating that the program or practice is effective for a specific population or has been rated as effective by a standardized program evaluation tool. See Utah Code 64-13-1 Evidence-informed: means a program or practice that is based on research and the experience and expertise of the department. See Utah Code 64-13-1 Executive director: means the executive director of the Department of Corrections. See Utah Code 64-13-1 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. Inmate: means an individual who is: (a)  committed to the custody of the department; and (b)  housed at a correctional facility or at a county jail at the request of the department. See Utah Code 64-13-1 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. 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 Limited lines producer: means a person who sells, solicits, or negotiates limited lines insurance. See Utah Code 31A-1-301 Liquid assets: means financial holdings that can be converted into cash in a timely manner without the loss of principal. See Utah Code 31A-35-102 Month: means a calendar month, unless otherwise expressed. See 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 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 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 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 Proceeding: includes an action or special statutory proceeding. See Utah Code 31A-1-301 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 Recidivism: means a return to criminal activity after a previous criminal conviction. See Utah Code 64-13-1 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 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 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 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 Utah depository institution: means a depository institution, as defined in Section 7-1-103, that: (a)  has Utah as its home state; or (b)  operates a branch in Utah. See Utah Code 31A-35-102