Utah Code > Title 59 > Chapter 9 – Taxation of Admitted Insurers


§ 59-9-101	Tax basis — Rates — Exemptions — Rate reductions
§ 59-9-102	Offsets
§ 59-9-102.5	Offset for occupational health and safety related donations
§ 59-9-103	Taxation of insurers otherwise untaxed
§ 59-9-104	Installment payments — Penalty
§ 59-9-105	Tax on certain insurers to pay for relative value study and other publications or services
§ 59-9-108	Utah low-income housing tax credit

Terms Used In Utah Code > Title 59 > Chapter 9 - Taxation of Admitted Insurers

Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5

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.

board of directors: means the group of persons with responsibility over, or management of, a corporation, however designated. See Utah Code 31A-1-301

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

Director: means a member of the board of directors of a corporation. See Utah Code 31A-1-301

Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}

Escrow: Money given to a third party to be held for payment until certain conditions are met.

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.

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}

Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301

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.

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

Policyholder: means a person who controls a policy, binder, or oral contract by ownership, premium payment, or otherwise. 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.