Utah Code 31A-25-204. Character requirements
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Each applicant for a license under this chapter shall show to the commissioner all of the following:
(1) that the applicant has the good faith intent to engage in the type of business the license applied for would permit;
Terms Used In Utah Code 31A-25-204
- License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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(2)(2)(a) if a natural person, that the applicant is:(2)(a)(i) competent; and(2)(a)(ii) trustworthy; or(2)(b) if a partnership or corporation, that all the partners, directors, principal officers, or persons having comparable powers are trustworthy; and(3) if a natural person, that the applicant is at least 18 years of age.