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.
Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
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.
Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
Application: means a document:
completed by an applicant to provide information about the risk to be insured; and
that contains information that is used by the insurer to evaluate risk and decide whether to:
insure the risk under:
the coverage as originally offered; or
a modification of the coverage as originally offered; or
decline to insure the risk; or
used by the insurer to gather information from the applicant before issuance of an annuity contract. 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.
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
Certificate: means evidence of insurance given to:
Controlling person: means a person that directly or indirectly has the power to direct or cause to be directed, the management, control, or activities of a reinsurance intermediary. See Utah Code 31A-1-301
creditor: means a person having a claim against an insurer whether the claim is:
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.
a similar mechanism in another state that is created for the payment of claims or continuation of policy obligations of a financially impaired or insolvent insurer. See Utah Code 31A-27a-102
Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
Indemnity: means the payment of an amount to offset all or part of an insured loss. See Utah Code 31A-1-301
Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
Insurance: includes :
a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
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
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:
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.
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
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Reinsurance: means a transaction or contract under which an assuming insurer agrees to indemnify a ceding insurer against all, or a part, of a loss that the ceding insurer may sustain under the one or more policies that the ceding insurer issues or will issue. See Utah Code 31A-27a-102
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.
Roll call vote : A vote in which each legislator votes "yea" or "nay" as his or her name is called by the Clerk, so that the names of legislators voting on each side are recorded.
Security: means a:
evidence of indebtedness;
certificate of interest or participation in a profit-sharing agreement;
preorganization certificate or subscription;
voting trust certificate;
certificate of deposit for a security;
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;
commodity contract or commodity option;
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 (160)(a)(i) through (xiv); or
Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
Subpoena: A command to a witness to appear and give testimony.
Summons: Another word for subpoena used by the criminal justice system.
Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
Trustee: means "director" when referring to the board of directors of a corporation. See Utah Code 31A-1-301
unauthorized insurer: means an insurer transacting the business of insurance in this state that has not received a certificate of authority from this state, or some other type of authority that allows for the transaction of the business of insurance in this state. See Utah Code 31A-27a-102
United States: includes each state, district, and territory of the United States of America. See Utah Code 48-2e-1156