Part 1 General Provisions 63G-24-101 – 63G-24-103
Part 2 Vacancies 63G-24-201 – 63G-24-205
Part 3 Conflicts of Interest 63G-24-301 – 63G-24-302

Terms Used In Utah Code > Title 63G > Chapter 24 - Board Vacancies and Conflicts Act

  • 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
  • Administrator: means the same as that term is defined in Subsection (182). See Utah Code 31A-1-301
  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Affiliation: means association with an entity, including association in the form of employment, ownership, shareholdership, or financial interest. See Utah Code 63G-24-102
  • Agency: means the same as that term is defined in Section 63G-4-103. See Utah Code 63G-24-102
  • 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
  • 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
  • Appointed board member: means an individual appointed by the governor, with the consent of the Senate, to serve on a rulemaking board. See Utah Code 63G-24-102
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Casualty insurance: means liability insurance. See Utah Code 31A-1-301
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • consultant: means a person who:
    (a) advises another person about insurance needs and coverages;
    (b) is compensated by the person advised on a basis not directly related to the insurance placed; and
    (c) except as provided in Section 31A-23a-501, is not compensated directly or indirectly by an insurer or producer for advice given. See Utah Code 31A-1-301
  • Contract: A legal written agreement that becomes binding when signed.
  • Department: means the Insurance Department. See Utah Code 31A-1-301
  • 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.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • 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
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Health care: means any of the following intended for use in the diagnosis, treatment, mitigation, or prevention of a human ailment or impairment:
    (a) a professional service;
    (b) a personal service;
    (c) a facility;
    (d) equipment;
    (e) a device;
    (f) supplies; or
    (g) medicine. See Utah Code 31A-1-301
  • 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
  • Insurer: is a s defined in Section 31A-1-301, except that the following persons or similar persons are not insurers for purposes of 7:
    (a) a risk retention group as defined in:
    (i) the Superfund Amendments and Reauthorization Act of 1986, Pub. See Utah Code 31A-23a-102
  • 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
  • Nominee: means a person selected by the governor to fill a rulemaking board vacancy subject to the advice and consent of the Senate. See Utah Code 63G-24-102
  • 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
  • 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
  • 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
  • Rebate: means a licensee paying, allowing, giving, or offering to pay, allow, or give, directly or indirectly:
    (i) a refund of premium or portion of premium;
    (ii) a refund of commission or portion of commission;
    (iii) a refund of all or a portion of a consultant fee; or
    (iv) providing services or other benefits not specified in an insurance or annuity contract. See Utah Code 31A-1-301
  • Rulemaking board: means a board, committee, commission, or council:
    (i) that has rulemaking authority; and
    (ii) at least part of whose membership is appointed by the governor subject to the advice and consent of the Senate. See Utah Code 63G-24-102
  • 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
  • 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
  • Substantial interest: means the same as that term is defined in Section 67-16-3. See Utah Code 63G-24-102
  • Terminate: means :
    (a) the cancellation of the relationship between:
    (i) an individual licensee or agency licensee and a particular insurer; or
    (ii) an individual licensee and a particular agency licensee; or
    (b) the termination of:
    (i) an individual licensee's or agency licensee's authority to transact insurance on behalf of a particular insurance company; or
    (ii) an individual licensee's authority to transact insurance on behalf of a particular agency licensee. See Utah Code 31A-23a-102
  • Title insurance: means the insuring, guaranteeing, or indemnifying of an owner of real or personal property or the holder of liens or encumbrances on that property, or others interested in the property against loss or damage suffered by reason of liens or encumbrances upon, defects in, or the unmarketability of the title to the property, or invalidity or unenforceability of any liens or encumbrances on the property. See Utah Code 31A-1-301
  • Writing: includes :Utah Code 68-3-12.5