Utah Code > Title 63B > Chapter 31 – 2021 Bonding and Financing Authorizations
Current as of: 2023 | Check for updates
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| Part 1 | 2021 Transportation and Transit General Obligation Bonds | 63B-31-101 – 63B-31-103 |
| Part 2 | 2021 Revenue Bond Authorizations | 63B-31-201 – 63B-31-202 |
Terms Used In Utah Code > Title 63B > Chapter 31 - 2021 Bonding and Financing Authorizations
- Accident and health insurance: means insurance to provide protection against economic losses resulting from:
(i) a medical condition including: (A) a medical care expense; or (B) the risk of disability; (ii) accident; or (iii) sickness. See Utah Code 31A-1-301 - 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 - Application: means a document:
(b) used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301 - Bonds: means any bonds, bond anticipation notes, or other obligations authorized under this title for which the full faith, credit, and resources and ad valorem taxing power of the state have been pledged for the payment of the principal of and interest on the bonds. See Utah Code 63B-1-101
- 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 - Commission: means the State Bonding Commission created in Section 63B-1-201. See Utah Code 63B-1-101
- Contract: A legal written agreement that becomes binding when signed.
- Dependent: A person dependent for support upon another.
- 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.
- health insurance: means insurance providing:
(i) a health care benefit; or (ii) payment of an incurred health care expense. See Utah Code 31A-1-301 - Individual: means a natural person. See Utah Code 31A-1-301
- 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 - Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Land: includes :Utah Code 68-3-12.5
- 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
- Managed care organization: means a person:
(a) licensed as a health maintenance organization under Chapter 8, Health Maintenance Organizations and Limited Health Plans; or (b) (i) licensed under: (A) Chapter 5, Domestic Stock and Mutual Insurance Corporations; (B) Chapter 7, Nonprofit Health Service Insurance Corporations; or (C) Chapter 14, Foreign Insurers; and (ii) that requires an enrollee to use, or offers incentives, including financial incentives, for an enrollee to use, network providers. See Utah Code 31A-1-301 - Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301
- Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
- 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.
- Order: means an order of the commissioner. 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
- 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 - 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 - Agency: means :