Terms Used In Utah Code 31A-15-209

• Individual: means a natural person. See Utah Code 31A-1-301
• Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk which is determined to be insurance under the laws of this state. See Utah Code 31A-15-202
• Liability insurance: includes :
            (112)(b)(i) vehicle liability insurance;
            (112)(b)(ii) residential dwelling liability insurance; and
            (112)(b)(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
• 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
• Purchasing group: means any group that:
       (10)(a) has as one of its purposes the purchase of liability insurance on a group basis;
       (10)(b) purchases liability insurance only for its group members and only to cover their similar or related liability exposure, as described in Subsection (10)(c);
       (10)(c) is composed of members whose businesses or activities are similar or related with respect to the liability to which members are exposed by virtue of any related, similar, or common business, trade, products, services, premises, or operations; and
       (10)(d) is domiciled in any state. See Utah Code 31A-15-202
• Risk retention group: means any corporation or other limited liability association:
       (11)(a) whose primary activity consists of assuming and spreading all, or any portion of, the liability exposure of its group members;
       (11)(b) which is organized for the primary purpose of conducting the activity described under Subsection (11)(a);
       (11)(c) that:

            (11)(c)(i) is chartered and licensed as a liability insurance company and authorized to engage in the business of insurance under the laws of any state; or

            (11)(c)(ii)

                 (11)(c)(ii)(A) before January 1, 1985, was chartered or licensed and authorized to engage in the business of insurance under the laws of Bermuda or the Cayman Islands and, before January 1, 1985, had certified to the insurance commissioner of at least one state that it satisfied the capitalization requirements of that state;

                 (11)(c)(ii)(B) except that any group as described in Subsection (11)(c)(ii)(A) shall be considered to be a risk retention group only if it has been engaged in business continuously since January 1, 1985, and only for the purpose of continuing to provide insurance to cover product liability or completed operations liability, as these terms were defined in the Product Liability Risk Retention Act of 1981 before the date of the enactment of the Liability Risk Retention Act of 1986;
       (11)(d) that does not exclude any person from membership in the group solely to provide for members of the group a competitive advantage over the excluded person;
       (11)(e) that:

            (11)(e)(i) has as its owners only persons who comprise the membership of the risk retention group and who are provided insurance by the group; or

            (11)(e)(ii) has as its sole owner an organization that has as:

                 (11)(e)(ii)(A) its members only persons who comprise the membership of the risk retention group; and

                 (11)(e)(ii)(B) its owners only persons who comprise the membership of the risk retention group and who are provided insurance by the group;
       (11)(f) whose members are engaged in businesses or activities similar or related with respect to the liability to which the members are exposed by virtue of any related, similar, or common business trade, products, services, premises or operations;
       (11)(g) whose activities do not include providing insurance other than:

            (11)(g)(i) liability insurance for assuming and spreading all or any portion of the liability of its group members; and

            (11)(g)(ii) reinsurance with respect to the liability of any other risk retention group, or any members of the other group, which is engaged in businesses or activities so that the group or member meets the requirement described in Subsection (11)(f) for membership in the risk retention group which provides the reinsurance; and
       (11)(h) the name of which includes the phrase "risk retention group. See Utah Code 31A-15-202
• State: means :
       (12)(a) a state of the United States; or
       (12)(b) the District of Columbia. See Utah Code 31A-15-202
• Surplus: means the excess of assets over the sum of paid-in capital and liabilities. See Utah Code 31A-1-301