Terms Used In Utah Code 31A-37-404

• Actuary: is a s defined by the commissioner by rule, made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. See Utah Code 31A-1-301
• Affiliate: means a person who controls, is controlled by, or is under common control with, another person. See Utah Code 31A-1-301
• Captive insurance company: includes any of the following formed or holding a certificate of authority under this chapter:
            (9)(b)(i) a branch captive insurance company;
            (9)(b)(ii) a pure captive insurance company;
            (9)(b)(iii) an association captive insurance company;
            (9)(b)(iv) a sponsored captive insurance company;
            (9)(b)(v) an industrial insured captive insurance company, including an industrial insured captive insurance company formed as a risk retention group captive in this state pursuant to the provisions of the Federal Liability Risk Retention Act of 1986;
            (9)(b)(vi) a special purpose captive insurance company; or
            (9)(b)(vii) a special purpose financial captive insurance company. See Utah Code 31A-37-102
• Commissioner: means Utah's Insurance Commissioner or the commissioner's designee. See Utah Code 31A-37-102
• Department: means the Insurance Department. See Utah Code 31A-1-301
• Employee: means :
       (57)(a) an individual employed by an employer; or
       (57)(b) an individual who meets the requirements of Subsection (55)(b). See Utah Code 31A-1-301
• Filing: when used as a noun, means an item required to be filed with the department including:
       (70)(a) a policy;
       (70)(b) a rate;
       (70)(c) a form;
       (70)(d) a document;
       (70)(e) a plan;
       (70)(f) a manual;
       (70)(g) an application;
       (70)(h) a report;
       (70)(i) a certificate;
       (70)(j) an endorsement;
       (70)(k) an actuarial certification;
       (70)(l) a licensee annual statement;
       (70)(m) a licensee renewal application;
       (70)(n) an advertisement;
       (70)(o) a binder; or
       (70)(p) an outline of coverage. See Utah Code 31A-1-301
• 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
• insurance company: means a person doing an insurance business as a principal including:
            (104)(a)(i) a fraternal benefit society;
            (104)(a)(ii) an issuer of a gift annuity other than an annuity specified in Subsections 31A-22-1305(2) and (3);
            (104)(a)(iii) a motor club;
            (104)(a)(iv) an employee welfare plan;
            (104)(a)(v) a person purporting or intending to do an insurance business as a principal on that person's own account; and
            (104)(a)(vi) a health maintenance organization. See Utah Code 31A-1-301
• Sponsored captive insurance company: means a captive insurance company:
       (29)(a) in which the minimum capital and surplus required by applicable law is provided by one or more sponsors;
       (29)(b) that is formed or holding a certificate of authority under this chapter;
       (29)(c) that insures the risks of a separate participant through the contract; and
       (29)(d) that segregates each participant's liability through one or more protected cells. See Utah Code 31A-37-102
• Treasury rates: means the United States Treasury strip asked yield as published in the Wall Street Journal as of a balance sheet date. See Utah Code 31A-37-102