Terms Used In Utah Code 31A-23a-109

• Affiliate: means a person who controls, is controlled by, or is under common control with, another person. See Utah Code 31A-1-301
• Application: means a document:
       (10)(a)

            (10)(a)(i) completed by an applicant to provide information about the risk to be insured; and

            (10)(a)(ii) that contains information that is used by the insurer to evaluate risk and decide whether to:

                 (10)(a)(ii)(A) insure the risk under:

                      (10)(a)(ii)(A)(I) the coverage as originally offered; or

                      (10)(a)(ii)(A)(II) a modification of the coverage as originally offered; or

                 (10)(a)(ii)(B) decline to insure the risk; or
       (10)(b) used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301
• consultant: means a person who:
       (99)(a) advises another person about insurance needs and coverages;
       (99)(b) is compensated by the person advised on a basis not directly related to the insurance placed; and
       (99)(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
• Designated home state: means the state or territory of the United States or the District of Columbia:
       (2)(a) in which an insurance producer, limited lines producer, consultant, managing general agent, or reinsurance intermediary licensee does not maintain the licensee's principal:

            (2)(a)(i) place of residence; or

            (2)(a)(ii) place of business;
       (2)(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:

            (2)(b)(i) examination requirement;

            (2)(b)(ii) fingerprint background check requirement; and

            (2)(b)(iii) continuing education requirement; and
       (2)(c) if the licensee has designated the state, territory, or District of Columbia as the designated home state. See Utah Code 31A-23a-102
• Form: means one of the following prepared for general use:
            (74)(a)(i) a policy;
            (74)(a)(ii) a certificate;
            (74)(a)(iii) an application;
            (74)(a)(iv) an outline of coverage; or
            (74)(a)(v) an endorsement. See Utah Code 31A-1-301
• Home state: means :
       (3)(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:

            (3)(a)(i) maintains the licensee's principal:

                 (3)(a)(i)(A) place of residence; or

                 (3)(a)(i)(B) place of business; and

            (3)(a)(ii) is licensed to act as a resident licensee; or
       (3)(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:

            (3)(b)(i) in which the licensee is licensed;

            (3)(b)(ii) in which the licensee is in good standing; and

            (3)(b)(iii) that the licensee has designated as the licensee's designated home state. See Utah Code 31A-23a-102
• Insurance: includes :
            (96)(b)(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;
            (96)(b)(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
            (96)(b)(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
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
• Managing general agent: means a person that:
            (6)(a)(i) manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office;
            (6)(a)(ii) acts as an agent for the insurer whether it is known as a managing general agent, manager, or other similar term;
            (6)(a)(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:

                 (6)(a)(iii)(A) with or without the authority;

                 (6)(a)(iii)(B) separately or together with an affiliate; and

                 (6)(a)(iii)(C) directly or indirectly; and
            (6)(a)(iv)

                 (6)(a)(iv)(A) adjusts or pays claims in excess of an amount determined by the commissioner; or

                 (6)(a)(iv)(B) negotiates reinsurance on behalf of the insurer. See Utah Code 31A-23a-102
• Person: includes :
       (146)(a) an individual;
       (146)(b) a partnership;
       (146)(c) a corporation;
       (146)(d) an incorporated or unincorporated association;
       (146)(e) a joint stock company;
       (146)(f) a trust;
       (146)(g) a limited liability company;
       (146)(h) a reciprocal;
       (146)(i) a syndicate; or
       (146)(j) another similar entity or combination of entities acting in concert. 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
• 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 :
       (8)(a) a reinsurance intermediary-broker; or
       (8)(b) a reinsurance intermediary-manager. See Utah Code 31A-23a-102
• Service of process: The service of writs or summonses to the appropriate party.
• 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
• Uniform application: means the version of the National Association of Insurance Commissioners' uniform application for resident and nonresident producer licensing at the time the application is filed. See Utah Code 31A-23a-102