Utah Code 31A-5-401.1. Definitions
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As used in this Part 4, Management of Insurance Corporations:
(1) “Voting members of mutuals” and “voting members” mean persons entitled to vote at annual or special meetings of the members of a mutual, as set forth in the articles of incorporation or amendments to the articles.
Terms Used In Utah Code 31A-5-401.1
- articles of incorporation: means :(11)(a) the original articles;(11)(b) a special law;(11)(c) a charter;(11)(d) an amendment;(11)(e) restated articles;(11)(f) articles of merger or consolidation;(11)(g) a trust instrument;(11)(h) another constitutive document for a trust or other entity that is not a corporation; and(11)(i) an amendment to an item listed in Subsections (11)(a) through (h). 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- Mutual: means a mutual insurance corporation. See Utah Code 31A-1-301
(2) Voting members of mutuals and voting members do not necessarily include policyholders of the mutual, if the articles of incorporation or amendments to the articles of incorporation so provide, and if the articles of incorporation or amendments have been approved by the commissioner after a hearing. - Insurance: includes :