Terms Used In Utah Code > Title 63G > Chapter 9 - Board of Examiners Act

• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Affiliate: means a person who controls, is controlled by, or is under common control with, another person. 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 Alien insurer: means an insurer domiciled outside the United States. See Utah Code 31A-1-301 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. 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 Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court. Business entity: means : (a)  a corporation; (b)  an association; (c)  a partnership; (d)  a limited liability company; (e)  a limited liability partnership; or (f)  another legal entity. 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 City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5 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. 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. Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Department: means the Insurance Department. See Utah Code 31A-1-301 Designated home state: means the state or territory of the United States or the District of Columbia: (a)  in which an insurance producer, limited lines producer, consultant, managing general agent, or reinsurance intermediary licensee does not maintain the licensee's principal: (i)  place of residence; or (ii)  place of business; (b)  if the resident state, territory, or District of Columbia of the licensee does not license for the line of authority sought, the licensee has qualified for the license as if the person were a resident in the state, territory, or District of Columbia described in Subsection (2)(a), including an applicable: (i)  examination requirement; (ii)  fingerprint background check requirement; and (iii)  continuing education requirement; and (c)  if the licensee has designated the state, territory, or District of Columbia as the designated home state. See Utah Code 31A-23a-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 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. 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 Home state: means : (a)  a state or territory of the United States or the District of Columbia in which an insurance producer, limited lines producer, consultant, managing general agent, or reinsurance intermediary licensee: (i)  maintains the licensee's principal: (A)  place of residence; or (B)  place of business; and (ii)  is licensed to act as a resident licensee; or (b)  if the resident state, territory, or the District of Columbia described in Subsection (3)(a) does not license for the line of authority sought, a state, territory, or the District of Columbia: (i)  in which the licensee is licensed; (ii)  in which the licensee is in good standing; and (iii)  that the licensee has designated as the licensee's designated home state. See Utah Code 31A-23a-102 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 insurance company: means a person doing an insurance business as a principal including: (i)  a fraternal benefit society; (ii)  an issuer of a gift annuity other than an annuity specified in Subsections 31A-22-1305(2) and (3); (iii)  a motor club; (iv)  an employee welfare plan; (v)  a person purporting or intending to do an insurance business as a principal on that person's own account; and (vi)  a health maintenance organization. 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 License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301 Lien: A claim against real or personal property in satisfaction of a debt. Limited lines producer: means a person who sells, solicits, or negotiates limited lines insurance. See Utah Code 31A-1-301 Limited long-term care insurance: includes a policy or rider described in Subsection (4)(a) that provides for payment of benefits based on cognitive impairment or the loss of functional capacity. See Utah Code 31A-22-2002 Long-term care insurance: includes : (i)  any of the following that provide directly or supplement long-term care insurance: (A)  a group or individual annuity or rider; or (B)  a life insurance policy or rider; (ii)  a policy or rider that provides for payment of benefits on the basis of: (A)  cognitive impairment; or (B)  functional capacity; or (iii)  a qualified long-term care insurance contract. See Utah Code 31A-1-301 Managing general agent: means a person that: (i)  manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office; (ii)  acts as an agent for the insurer whether it is known as a managing general agent, manager, or other similar term; (iii)  produces and underwrites an amount of gross direct written premium equal to, or more than, 5% of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year: (A)  with or without the authority; (B)  separately or together with an affiliate; and (C)  directly or indirectly; and (iv)  (A)  adjusts or pays claims in excess of an amount determined by the commissioner; or (B)  negotiates reinsurance on behalf of the insurer. See Utah Code 31A-23a-102 Outline of coverage: means a summary that explains an accident and health insurance policy. See Utah Code 31A-1-301 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 Political subdivision: means any county, city, town, school district, community reinvestment agency, special improvement or taxing district, special district, special service district, an entity created by an interlocal agreement adopted under Title 11, Chapter 13, Interlocal Cooperation Act, or other governmental subdivision or public corporation. See Utah Code 63G-9-201 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 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 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 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 Reinsurance intermediary: means : (a)  a reinsurance intermediary-broker; or (b)  a reinsurance intermediary-manager. See Utah Code 31A-23a-102 Reinsurance intermediary-broker: means a person other than an officer or employee of the ceding insurer, firm, association, or corporation who solicits, negotiates, or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of the insurer. See Utah Code 31A-23a-102 Reinsurance intermediary-manager: means a person who: (i)  has authority to bind or who manages all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department, or underwriting office; and (ii)  acts as an agent for the reinsurer whether the person is known as a reinsurance intermediary-manager, manager, or other similar term. See Utah Code 31A-23a-102 Reinsurer: means a person licensed in this state as an insurer with the authority to assume reinsurance. See Utah Code 31A-1-301 Resident: is a s defined by rule made by the commissioner in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. See Utah Code 31A-23a-102 Sell: means to exchange a contract of insurance: (a)  by any means; (b)  for money or its equivalent; and (c)  on behalf of an insurance company. See Utah Code 31A-23a-102 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. State: means the state of Utah, and includes each office, department, division, agency, authority, commission, board, institution, college, university, Children's Justice Center, or other instrumentality of the state. See Utah Code 63G-9-201 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 Surplus: means the excess of assets over the sum of paid-in capital and liabilities. See Utah Code 31A-1-301 Title examination: means a license subline of authority in conjunction with the title insurance line of authority that allows a person to issue title insurance commitments or policies on behalf of a title insurer. 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 Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5 Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence. under common control: means the direct or indirect possession of the power to direct or cause the direction of the management and policies of a person. See Utah Code 31A-1-301 Uniform business entity application: means the version of the National Association of Insurance Commissioners' uniform business entity application for resident and nonresident business entities at the time the application is filed. See Utah Code 31A-23a-102 United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Verdict: The decision of a petit jury or a judge. Writing: includes :Utah Code 68-3-12.5