Terms Used In Utah Code 67-4a-209

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Banking organization: means :
       (5)(a) a bank;
       (5)(b) an industrial bank;
       (5)(c) a trust company;
       (5)(d) a savings bank; or
       (5)(e) any organization defined by other law as a bank or banking organization. See Utah Code 67-4a-102
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Contract: A legal written agreement that becomes binding when signed.
• Financial organization: means :
       (14)(a) a savings and loan association; or
       (14)(b) a credit union. See Utah Code 67-4a-102
• Insurance company: means an association, corporation, or fraternal or mutual benefit organization, whether or not for profit, engaged in the business of providing life endowments, annuities, or insurance, including:
       (18)(a) accident insurance;
       (18)(b) burial insurance;
       (18)(c) casualty insurance;
       (18)(d) credit life insurance;
       (18)(e) contract performance insurance;
       (18)(f) dental insurance;
       (18)(g) disability insurance;
       (18)(h) fidelity insurance;
       (18)(i) fire insurance;
       (18)(j) health insurance;
       (18)(k) hospitalization insurance;
       (18)(l) illness insurance;
       (18)(m) life insurance, including endowments and annuities;
       (18)(n) malpractice insurance;
       (18)(o) marine insurance;
       (18)(p) mortgage insurance;
       (18)(q) surety insurance;
       (18)(r) wage protection insurance; and
       (18)(s) worker compensation insurance. See Utah Code 67-4a-102