Terms Used In Utah Code > Title 31A > Chapter 5 > Part 2 - Organization of Corporations

• Adjudicative proceeding: means :Utah Code 68-3-12.5
• Adult: means an individual who is 18 years old or older. See Utah Code 31A-1-301
• Agency contract: means an agreement in which a student athlete authorizes a person to negotiate or solicit on behalf of the athlete a professional-sports-services contract or an endorsement contract. See Utah Code 58-87-102
• 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.
• Amendment: means an endorsement to an insurance policy or certificate. See Utah Code 31A-1-301
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Annuity: means an agreement to make periodical payments for a period certain or over the lifetime of one or more individuals if the making or continuance of all or some of the series of the payments, or the amount of the payment, is dependent upon the continuance of human life. 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 Appraisal: A determination of property value. articles of incorporation: means : (a)  the original articles; (b)  a special law; (c)  a charter; (d)  an amendment; (e)  restated articles; (f)  articles of merger or consolidation; (g)  a trust instrument; (h)  another constitutive document for a trust or other entity that is not a corporation; and (i)  an amendment to an item listed in Subsections (11)(a) through (h). See Utah Code 31A-1-301 Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account. Athlete agent: means an individual, whether or not registered under this chapter, who: (i)  directly or indirectly recruits or solicits a student athlete to enter into an agency contract or, for compensation, procures employment or offers, promises, attempts, or negotiates to obtain employment for a student athlete as a professional athlete or member of a professional sports team or organization; (ii)  for compensation or in anticipation of compensation related to a student athlete's participation in athletics: (A)  serves the athlete in an advisory capacity on a matter related to finances, business pursuits, or career management decisions, unless the individual is an employee of an educational institution acting exclusively as an employee of the institution for the benefit of the institution; or (B)  manages the business affairs of the athlete by providing assistance with bills, payments, contracts, or taxes; or (iii)  in anticipation of representing a student athlete for a purpose related to the athlete's participation in athletics: (A)  gives consideration to the student athlete or another person; (B)  serves the athlete in an advisory capacity on a matter related to finances, business pursuits, or career management decisions; or (C)  manages the business affairs of the athlete by providing assistance with bills, payments, contracts, or taxes. See Utah Code 58-87-102 Athletic director: means the individual responsible for administering the overall athletic program of an educational institution or, if an educational institution has separately administered athletic programs for male students and female students, the athletic program for males or the athletic program for females, as appropriate. See Utah Code 58-87-102 Building: means an enclosed structure, including the structural, mechanical, and electrical systems, utility services, and other facilities required for the structure, that has human occupancy or habitation as its principal purpose and is subject to the State Construction Code or an approved code under Title 15A, State Construction and Fire Codes Act. See Utah Code 58-86-102 Business plan: means the information required to be supplied to the commissioner under Subsections 31A-5-204(2)(i) and (j), including the information required when these subsections apply by reference under: (a)  Section 31A-8-205; or (b)  Subsection 31A-9-205(2). See Utah Code 31A-1-301 Certificate: means evidence of insurance given to: (a)  an insured under a group insurance policy; or (b)  a third party. See Utah Code 31A-1-301 Contract: A legal written agreement that becomes binding when signed. Conviction: A judgement of guilt against a criminal defendant. 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 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. 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 Director: means a member of the board of directors of a corporation. See Utah Code 31A-1-301 Domestic insurer: means an insurer organized under the laws of this state. See Utah Code 31A-1-301 Educational institution: includes a public or private elementary school, secondary school, technical or vocational school, community college, college, and university. See Utah Code 58-87-102 Eligible patient: means an individual who has been diagnosed with a terminal illness by a physician. See Utah Code 58-85-102 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 Endorsement contract: means an agreement under which a student athlete is employed or receives consideration to use on behalf of the other party any value that the student athlete may have because of publicity, reputation, following, or fame obtained because of athletic ability or performance. See Utah Code 58-87-102 Enrolled: means registered for courses and attending athletic practice or class. See Utah Code 58-87-102 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. Fiduciary: A trustee, executor, or administrator. 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 Filing: when used as a noun, means an item required to be filed with the department including: (a)  a policy; (b)  a rate; (c)  a form; (d)  a document; (e)  a plan; (f)  a manual; (g)  an application; (h)  a report; (i)  a certificate; (j)  an endorsement; (k)  an actuarial certification; (l)  a licensee annual statement; (m)  a licensee renewal application; (n)  an advertisement; (o)  a binder; or (p)  an outline of coverage. See Utah Code 31A-1-301 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 Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs. Guardian: includes a person who:Utah Code 68-3-12.5 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: means the same as that term is defined in Section 31A-1-301. See Utah Code 58-85-102 Intercollegiate sport: means a sport played at the collegiate level for which eligibility requirements for participation by a student athlete are established by a national association that promotes or regulates collegiate athletics. See Utah Code 58-87-102 International Building Code: means the edition of the International Building Code, issued by the International Code Council, most recently adopted by the state in Section 15A-2-103. See Utah Code 58-86-102 Investigational device: means a device that: (a)  meets the definition of "investigational device" in 21 C. See Utah Code 58-85-102 Investigational drug: means a drug that: (a)  meets the definition of "investigational new drug" in 21 C. See Utah Code 58-85-102 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 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. 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 Life insurance: means : (i)  insurance on a human life; and (ii)  insurance pertaining to or connected with human life. See Utah Code 31A-1-301 Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301 minimum required capital: means the capital that must be constantly maintained by a stock insurance corporation as required by statute. See Utah Code 31A-1-301 Motor club: means a person: (a)  licensed under: (i)  Chapter 5, Domestic Stock and Mutual Insurance Corporations; (ii)  Chapter 11, Motor Clubs; or (iii)  Chapter 14, Foreign Insurers; and (b)  that promises for an advance consideration to provide for a stated period of time one or more: (i)  legal services under Subsection 31A-11-102(1)(b); (ii)  bail services under Subsection 31A-11-102(1)(c); or (iii)  (A)  trip reimbursement; (B)  towing services; (C)  emergency road services; (D)  stolen automobile services; (E)  a combination of the services listed in Subsections (126)(b)(iii)(A) through (D); or (F)  other services given in Subsections 31A-11-102(1)(b) through (f). See Utah Code 31A-1-301 Mutual: means a mutual insurance corporation. See Utah Code 31A-1-301 Order: means an order of the commissioner. See Utah Code 31A-1-301 Permanent surplus: means the surplus of an insurer or organization that is designated by the insurer or organization as permanent. See Utah Code 31A-1-301 Person: means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. See Utah Code 58-87-102 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 Physician: means an individual who is licensed under: (a)  Title 58, Chapter 67, Utah Medical Practice Act; or (b)  Title 58, Chapter 68, Utah Osteopathic Medical Practice Act. See Utah Code 58-85-102 Plaintiff: The person who files the complaint in a civil lawsuit. 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 Practice of commercial interior design: means , in relation to obtaining a building permit independent of an architect licensed under Title 58, Chapter 3a, Architects Licensing Act, the preparation of a plan or specification for, or the supervision of new construction, alteration, or repair of, an interior space within a newly constructed or existing building when the core and shell structural elements are not going to be changed. See Utah Code 58-86-102 Practice of music therapy: means the clinical and evidence-based use of music interventions to accomplish individualized goals within a therapeutic relationship. See Utah Code 58-84-102 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 Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed. 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 Property: includes both real and personal property. See Utah Code 68-3-12.5 Rate: means : (i)  the cost of a given unit of insurance; or (ii)  for property or casualty insurance, that cost of insurance per exposure unit either expressed as: (A)  a single number; or (B)  a pure premium rate, adjusted before the application of individual risk variations based on loss or expense considerations to account for the treatment of: (I)  expenses; (II)  profit; and (III)  individual insurer variation in loss experience. See Utah Code 31A-1-301 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 58-87-102 Recruit or solicit: means attempting to influence the choice of an athlete agent by a student athlete or, if the athlete is a minor, a parent or guardian of the athlete. See Utah Code 58-87-102 Registration: means registration as an athlete agent under this chapter. See Utah Code 58-87-102 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. Residential dwelling liability insurance: means insurance against liability resulting from or incident to the ownership, maintenance, or use of a residential dwelling that is a detached single family residence or multifamily residence up to four units. 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 Service of process: The service of writs or summonses to the appropriate party. 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. Sign: means , with present intent to authenticate or adopt a record: (a)  to execute or adopt a tangible symbol; or (b)  to attach to or logically associate with the record an electronic symbol, sound, or process. See Utah Code 58-87-102 Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. 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 58-87-102 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 certification: means a designation granted by the division on behalf of the state to an individual who has met the requirements for state certification related to an occupation or profession described in this chapter. See Utah Code 58-84-102 State certification: means a designation granted by the division on behalf of the state to an individual who has met the requirements for state certification related to an occupation or profession described in this chapter. See Utah Code 58-86-102 State certified: means , when used in conjunction with an occupation or profession described in this chapter, a title that: (a)  may be used by a person who has met the state certification requirements related to that occupation or profession described in this chapter; and (b)  may not be used by a person who has not met the state certification requirements related to that occupation or profession described in this chapter. See Utah Code 58-84-102 State certified: means , when used in conjunction with an occupation or profession described in this chapter, a title that: (a)  may be used by a person who has met the state certification requirements related to that occupation or profession described in this chapter; and (b)  may not be used by a person who has not met the state certification requirements related to that occupation or profession described in this chapter. See Utah Code 58-86-102 Student athlete: means an individual who is eligible to attend an educational institution and engages in, is eligible to engage in, or may be eligible in the future to engage in, any interscholastic or intercollegiate sport. See Utah Code 58-87-102 Summons: Another word for subpoena used by the criminal justice system. Surplus: means the excess of assets over the sum of paid-in capital and liabilities. See Utah Code 31A-1-301 Terminal illness: means a condition of a patient that: (a)  as determined by a physician: (i)  is likely to pose a greater risk to the patient than the risk posed to the patient by treatment with an investigational drug or investigational device; and (ii)  will inevitably lead to the patient's death; and (b)  presents the patient, after the patient has explored conventional therapy options, with no treatment option that is satisfactory or comparable to treatment with an investigational drug or device. See Utah Code 58-85-102 Total adjusted capital: means the sum of an insurer's or health organization's statutory capital and surplus as determined in accordance with: (a)  the statutory accounting applicable to the annual financial statements required to be filed under Section 31A-4-113; and (b)  another item provided by the RBC instructions, as RBC instructions is defined in Section 31A-17-601. See Utah Code 31A-1-301 United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Unlawful conduct: means the same as that term is defined in Sections 58-1-501 and 58-86-301. See Utah Code 58-86-102 Writing: includes :Utah Code 68-3-12.5