Terms Used In Utah Code > Title 31A > Chapter 46 > Part 4 - Miscellaneous

• Administrator: means the deputy state treasurer assigned by the state treasurer. See Utah Code 67-4a-102
• 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 Contract: A legal written agreement that becomes binding when signed. Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Utah Code 67-4a-102 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. 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. Holder: means a person obligated to hold for the account of, or to deliver or pay to, the owner property subject to this chapter. See Utah Code 67-4a-102 Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. 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. Owner: includes : (i)  a depositor, for a deposit; (ii)  a beneficiary, for a trust other than a deposit in trust; (iii)  a creditor, claimant, or payee, for other property; and (iv)  the lawful bearer of a record that may be used to obtain money, a reward, or a thing of value. See Utah Code 67-4a-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 : (a)  an individual; (b)  an estate; (c)  a business association; (d)  a public corporation; (e)  a government entity; (f)  an agency; (g)  a trust; (h)  an instrumentality; or (i)  any other legal or commercial entity. See Utah Code 67-4a-102 Property: includes : (i)  all income from or increments to the property; (ii)  property referred to as or evidenced by: (A)  money, virtual currency, interest, or a dividend, check, draft, or deposit; (B)  a credit balance, customer's overpayment, stored-value card, payroll card, security deposit, refund, credit memorandum, unpaid wage, unused ticket for which the issuer has an obligation to provide a refund, mineral proceeds, or unidentified remittance; and (C)  a security except for: (I)  a worthless security; or (II)  a security that is subject to a lien, legal hold, or restriction evidenced on the records of the holder or imposed by operation of law, if the lien, legal hold, or restriction restricts the holder's or owner's ability to receive, transfer, sell, or otherwise negotiate the security; (iii)  a bond, debenture, note, or other evidence of indebtedness; (iv)  money deposited to redeem a security, make a distribution, or pay a dividend; (v)  an amount due and payable under an annuity contract or insurance policy; (vi)  an amount distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit-sharing, employee-savings, supplemental-unemployment insurance, or a similar benefit; and (vii)  an amount held under a preneed funeral or burial contract, other than a contract for burial rights or opening and closing services, where the contract has not been serviced following the death or the presumed death of the beneficiary. See Utah Code 67-4a-102 Putative holder: means a person believed by the administrator to be a holder, until: (a)  the person pays or delivers to the administrator property subject to this chapter; or (b)  the administrator or a court makes a final determination that the person is or is not a holder. See Utah Code 67-4a-102 Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Utah Code 67-4a-102 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. Security: means : (a)  a security as defined in Revised Article 8 of the Uniform Commercial Code; or (b)  a security entitlement as defined in Revised Article 8 of the Uniform Commercial Code, including a customer security account held by a registered broker-dealer, to the extent the financial assets held in the security account are not: (i)  registered on the books of the issuer in the name of the person for which the broker-dealer holds the assets; (ii)  payable to the order of the person; (iii)  specifically endorsed to the person; or (iv)  an equity interest in a business association not included in this Subsection (32). See Utah Code 67-4a-102 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: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Utah Code 67-4a-102 Subpoena: A command to a witness to appear and give testimony. United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Writing: includes :Utah Code 68-3-12.5