§ 31A-27a-101 Title — Construction — Commissioner’s powers
§ 31A-27a-102 Definitions
§ 31A-27a-103 Insurer receivership laws
§ 31A-27a-104 Persons covered
§ 31A-27a-105 Jurisdiction
§ 31A-27a-106 Exemption from fees
§ 31A-27a-107 Notice and hearing on matters submitted by the receiver for receivership court approval
§ 31A-27a-108 Injunctions and orders
§ 31A-27a-108.1 Injunctions and orders applicable to a federal home loan bank
§ 31A-27a-109 Statutes of limitations
§ 31A-27a-110 Cooperation of officers, owners, and employees
§ 31A-27a-111 Actions by and against the receiver
§ 31A-27a-112 Unrecorded obligations and defenses of affiliates
§ 31A-27a-113 Executory contracts
§ 31A-27a-114 Immunity and indemnification
§ 31A-27a-115 Approval and payment of expenses
§ 31A-27a-116 Financial reporting
§ 31A-27a-117 Records
§ 31A-27a-118 Commissioner’s reports
§ 31A-27a-119 Delinquency proceeding commenced before April 30, 2007
§ 31A-27a-120 Severability
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Terms Used In Utah Code > Title 31A > Chapter 27a > Part 1 - General Provisions

  • 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
  • Administrator: means the same as that term is defined in Subsection (187). See Utah Code 31A-1-301
  • Admitted assets: is a s defined by and is measured in accordance with the National Association of Insurance Commissioner's Statements of Statutory Accounting Principles, as incorporated in this state by rules made by the department in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, for the purposes of Subsection 31A-4-113(1)(b)(ii). See Utah Code 31A-27a-102
  • Affected guaranty association: means a guaranty association that is or may become liable for payment of a covered claim. See Utah Code 31A-27a-102
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affiliate: is a s defined in Section 31A-1-301. See Utah Code 31A-27a-102
  • Agency: means :
         (6)(a) a person other than an individual, including a sole proprietorship by which an individual does business under an assumed name; and
         (6)(b) an insurance organization licensed or required to be licensed under Section 31A-23a-301, 31A-25-207, or 31A-26-209. See Utah Code 31A-1-301
  • alien insurer: means an insurer incorporated or organized under the laws of a jurisdiction that is not a state. See Utah Code 31A-27a-102
  • Allegation: something that someone says happened.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • 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
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • 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
  • Binder: means the same as that term is defined in Section 31A-21-102. See Utah Code 31A-1-301
  • business of insurance: includes any of the following acts, whether effected by mail, electronic means, or otherwise:
         (11)(a) issuing or delivering a contract, certificate, or binder relating to insurance or annuities:
              (11)(a)(i) to a person who is resident in this state; or
              (11)(a)(ii) covering a risk located in this state;
         (11)(b) soliciting an application for the contract, certificate, or binder described in Subsection (11)(a);
         (11)(c) negotiating preliminary to the execution of the contract, certificate, or binder described in Subsection (11)(a);
         (11)(d) collecting premiums, membership fees, assessments, or other consideration for the contract, certificate, or binder described in Subsection (11)(a);
         (11)(e) transacting matters:
              (11)(e)(i) subsequent to execution of the contract, certificate, or binder described in Subsection (11)(a); and
              (11)(e)(ii) arising out of the contract, certificate, or binder described in Subsection (11)(a);
         (11)(f) operating as an insurer under a license or certificate of authority issued by the department; or
  • Case action plan: means a document developed by the Department of Corrections that identifies:
         (2)(a) the program priorities for the treatment of the offender, including the criminal risk factors as determined by risk, needs, and responsivity assessments conducted by the department; and
         (2)(b) clearly defined completion requirements. See Utah Code 64-13-1
  • Certificate: means evidence of insurance given to:
         (23)(a) an insured under a group insurance policy; or
         (23)(b) a third party. See Utah Code 31A-1-301
  • Commissioner: is a s defined in Section 31A-1-301. See Utah Code 31A-27a-102
  • Commodity contract: means :
         (7)(a) a contract for the purchase or sale of a commodity for future delivery on, or subject to the rules of:
              (7)(a)(i) a board of trade or contract market under the Commodity Exchange Act, Utah Code 31A-27a-102
  • Community correctional center: means a nonsecure correctional facility operated by the department, but does not include a behavioral health transition facility for the purposes of Section 64-13f-103. See Utah Code 64-13-1
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • Control: is a s defined in Section 31A-1-301. See Utah Code 31A-27a-102
  • Controlling person: means a person that directly or indirectly has the power to direct or cause to be directed, the management, control, or activities of a reinsurance intermediary. See Utah Code 31A-1-301
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: means an insurance corporation, except when referring to:
              (34)(a)(i) a corporation doing business:
                   (34)(a)(i)(A) as:
                        (34)(a)(i)(A)(I) an insurance producer;
                        (34)(a)(i)(A)(II) a surplus lines producer;
                        (34)(a)(i)(A)(III) a limited line producer;
                        (34)(a)(i)(A)(IV) a consultant;
                        (34)(a)(i)(A)(V) a managing general agent;
                        (34)(a)(i)(A)(VI) a reinsurance intermediary;
                        (34)(a)(i)(A)(VII) a third party administrator; or
                        (34)(a)(i)(A)(VIII) an adjuster; and
                   (34)(a)(i)(B) under:
                        (34)(a)(i)(B)(I) Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries;
                        (34)(a)(i)(B)(II) Chapter 25, Third Party Administrators; or
                        (34)(a)(i)(B)(III) Chapter 26, Insurance Adjusters; or
              (34)(a)(ii) a noninsurer that is part of a holding company system under Chapter 16, Insurance Holding Companies. See Utah Code 31A-1-301
  • Correctional facility: means any facility operated to house offenders in a secure or nonsecure setting:
         (4)(a) by the department; or
         (4)(b) under a contract with the department. See Utah Code 64-13-1
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • creditor: means a person having a claim against an insurer whether the claim is:
         (5)(a) matured or not matured;
         (5)(b) liquidated or unliquidated;
         (5)(c) secured or unsecured;
         (5)(d) absolute; or
         (5)(e) fixed or contingent. See Utah Code 31A-27a-102
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Delinquency proceeding: means a:
         (9)(a) proceeding instituted against an insurer for the purpose of rehabilitating or liquidating the insurer; and
         (9)(b) summary proceeding under Section 31A-27a-201. See Utah Code 31A-27a-102
  • Department: means the Department of Corrections. See Utah Code 64-13-1
  • Department: is a s defined in Section 31A-1-301 unless the context requires otherwise. See Utah Code 31A-27a-102
  • Director: means a member of the board of directors of a corporation. See Utah Code 31A-1-301
  • division: means the Division of Correctional Industries. See Utah Code 64-13a-3
  • 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
  • Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Evidence-based: means a program or practice that has had multiple randomized control studies or a meta-analysis demonstrating that the program or practice is effective for a specific population or has been rated as effective by a standardized program evaluation tool. See Utah Code 64-13-1
  • Evidence-informed: means a program or practice that is based on research and the experience and expertise of the department. See Utah Code 64-13-1
  • Executive director: means the executive director of the Department of Corrections. See Utah Code 64-13-1
  • Female: means the characteristic of an individual whose biological reproductive system is of the general type that functions in a way that could produce ova. See Utah Code 68-3-12.5
  • Filed: means that a filing is:
              (69)(a)(i) submitted to the department as required by and in accordance with applicable statute, rule, or filing order;
              (69)(a)(ii) received by the department within the time period provided in applicable statute, rule, or filing order; and
              (69)(a)(iii) accompanied by the appropriate fee in accordance with:
                   (69)(a)(iii)(A) Section 31A-3-103; or
                   (69)(a)(iii)(B) rule. 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
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • 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
  • Formal delinquency proceeding: means a rehabilitation or liquidation proceeding. See Utah Code 31A-27a-102
  • Forward contract: is a s defined in the Federal Deposit Insurance Act, Utah Code 31A-27a-102
  • Fraud: Intentional deception resulting in injury to another.
  • General assets: includes the property of the estate or its proceeds in excess of the amount necessary to discharge a claim described in Subsection (18)(a). See Utah Code 31A-27a-102
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Good faith: means honesty in fact and intention, and in regard to Part 5, Asset Recovery, also requires the absence of:
         (19)(a) information that would lead a reasonable person in the same position to know that the insurer is financially impaired or insolvent; and
         (19)(b) knowledge regarding the imminence or pendency of a delinquency proceeding against the insurer. See Utah Code 31A-27a-102
  • Guaranty association: means :
         (20)(a) a mechanism mandated by Chapter 28, Guaranty Associations; or
         (20)(b) a similar mechanism in another state that is created for the payment of claims or continuation of policy obligations of a financially impaired or insolvent insurer. See Utah Code 31A-27a-102
  • Health care: means any of the following intended for use in the diagnosis, treatment, mitigation, or prevention of a human ailment or impairment:
         (83)(a) a professional service;
         (83)(b) a personal service;
         (83)(c) a facility;
         (83)(d) equipment;
         (83)(e) a device;
         (83)(f) supplies; or
         (83)(g) medicine. See Utah Code 31A-1-301
  • Impaired: means that an insurer:
         (21)(a) does not have admitted assets at least equal to the sum of:
              (21)(a)(i) all its liabilities; and
              (21)(a)(ii) the minimum surplus required to be maintained by Section 31A-5-211 or 31A-8-209; or
         (21)(b) has a total adjusted capital that is less than its authorized control level RBC, as defined in Section 31A-17-601. See Utah Code 31A-27a-102
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Indemnity: means the payment of an amount to offset all or part of an insured loss. See Utah Code 31A-1-301
  • Individual: means a natural person. See Utah Code 31A-1-301
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Inmate: means an individual who is:
         (12)(a) committed to the custody of the department; and
         (12)(b) housed at a correctional facility or at a county jail at the request of the department. See Utah Code 64-13-1
  • insolvent: means that an insurer:
         (22)(a) is unable to pay its obligations when they are due;
         (22)(b) does not have admitted assets at least equal to all of its liabilities; or
         (22)(c) has a total adjusted capital that is less than its mandatory control level RBC, as defined in Section 31A-17-601. See Utah Code 31A-27a-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
  • 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
  • Insured: means a person to whom or for whose benefit an insurer makes a promise in an insurance policy and includes:
              (103)(a)(i) a policyholder;
              (103)(a)(ii) a subscriber;
              (103)(a)(iii) a member; and
              (103)(a)(iv) a beneficiary. See Utah Code 31A-1-301
  • insurer: means a person who:
         (23)(a) is doing, has done, purports to do, or is licensed to do the business of insurance;
         (23)(b) is or has been subject to the authority of, or to rehabilitation, liquidation, reorganization, supervision, or conservation by an insurance commissioner; or
         (23)(c) is included under Section 31A-27a-104. See Utah Code 31A-27a-102
  • Interinsurance exchange: means the same as that term is defined in Subsection (168). 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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Liabilities: is a s defined by and is measured in accordance with the National Association of Insurance Commissioner's Statements of Statutory Accounting Principles, as incorporated in this state by rules made by the department in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, for the purposes of Subsection 31A-4-113(1)(b)(ii). See Utah Code 31A-27a-102
  • License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Man: means an adult human male. See Utah Code 68-3-12.5
  • Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301
  • Mother: means a parent who is of the female sex. See Utah Code 68-3-12.5
  • Netting agreement: includes :
              (25)(c)(i) a term or condition incorporated by reference in the contract or agreement described in Subsection (25)(a); or
              (25)(c)(ii) a master agreement described in Subsection (25)(a). See Utah Code 31A-27a-102
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Offender: means an individual who has been convicted of a crime for which the individual may be committed to the custody of the department and is at least one of the following:
         (13)(a) committed to the custody of the department;
         (13)(b) on probation; or
         (13)(c) on parole. See Utah Code 64-13-1
  • Order: means an order of the commissioner. See Utah Code 31A-1-301
  • Party in interest: means :
         (27)(a) the commissioner;
         (27)(b) a nondomiciliary commissioner in whose state the insurer has outstanding claims liabilities;
         (27)(c) an affected guaranty association; and
         (27)(d) the following parties if the party files a request with the receivership court for inclusion as a party in interest and to be on the service list:
              (27)(d)(i) an insurer that ceded to or assumed business from the insurer;
              (27)(d)(ii) a policyholder;
              (27)(d)(iii) a third party claimant;
              (27)(d)(iv) a creditor;
              (27)(d)(v) a 10% or greater equity security holder in the insolvent insurer; and
              (27)(d)(vi) a person, including an indenture trustee, with a financial or regulatory interest in the delinquency proceeding. See Utah Code 31A-27a-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
  • Person: means :
         (24)(a) an individual;
         (24)(b) an association;
         (24)(c) an institution;
         (24)(d) a corporation;
         (24)(e) a company;
         (24)(f) a trust;
         (24)(g) a limited liability company;
         (24)(h) a partnership;
         (24)(i) a political subdivision;
         (24)(j) a government office, department, division, bureau, or other body of government; and
         (24)(k) any other organization or entity. See Utah Code 68-3-12.5
  • Policy: includes all clauses, riders, endorsements, and papers that are a part of a policy. See Utah Code 31A-27a-102
  • Policyholder: means a person who controls a policy, binder, or oral contract by ownership, premium payment, or otherwise. See Utah Code 31A-1-301
  • Premium: includes , however designated:
              (156)(b)(i) an assessment;
              (156)(b)(ii) a membership fee;
              (156)(b)(iii) a required contribution; or
              (156)(b)(iv) monetary consideration. See Utah Code 31A-1-301
  • Proceeding: includes an action or special statutory proceeding. See Utah Code 31A-1-301
  • Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
  • 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
  • Property: includes both real and personal property. See Utah Code 68-3-12.5
  • property of the estate: includes :
         (30)(a) a right, title, or interest of the insurer in property:
              (30)(a)(i) whether:
                   (30)(a)(i)(A) legal or equitable;
                   (30)(a)(i)(B) tangible or intangible; or
                   (30)(a)(i)(C) choate or inchoate; and
              (30)(a)(ii) including choses in action, contract rights, and any other interest recognized under the laws of this state;
         (30)(b) entitlements that exist before the entry of an order of rehabilitation or liquidation;
         (30)(c) entitlements that may arise by operation of this chapter or other provisions of law allowing the receiver to avoid prior transfers or assert other rights; and
         (30)(d)
              (30)(d)(i) records or data that is otherwise the property of the insurer; and
              (30)(d)(ii) records or data similar to those described in Subsection (30)(d)(i) that are within the possession, custody, or control of a managing general agent, a third party administrator, a management company, a data processing company, an accountant, an attorney, an affiliate, or other person. See Utah Code 31A-27a-102
  • qualified financial contract: means any of the following:
         (31)(a) a commodity contract;
         (31)(b) a forward contract;
         (31)(c) a repurchase agreement;
         (31)(d) a securities contract;
         (31)(e) a swap agreement; or
         (31)(f) a similar agreement that the commissioner determines by rule or order to be a qualified financial contract for purposes of this chapter. See Utah Code 31A-27a-102
  • Quorum: The number of legislators that must be present to do business.
  • Rate: means :
              (163)(a)(i) the cost of a given unit of insurance; or
              (163)(a)(ii) for property or casualty insurance, that cost of insurance per exposure unit either expressed as:
                   (163)(a)(ii)(A) a single number; or
                   (163)(a)(ii)(B) a pure premium rate, adjusted before the application of individual risk variations based on loss or expense considerations to account for the treatment of:
                        (163)(a)(ii)(B)(I) expenses;
                        (163)(a)(ii)(B)(II) profit; and
                        (163)(a)(ii)(B)(III) individual insurer variation in loss experience. See Utah Code 31A-1-301
  • receiver: means the commissioner or the commissioner's designee, including a rehabilitator, liquidator, or ancillary receiver. See Utah Code 31A-27a-102
  • receivership: means a rehabilitation, liquidation, or ancillary receivership. See Utah Code 31A-27a-102
  • receivership court: refers to the court in which a delinquency proceeding is pending. See Utah Code 31A-27a-102
  • Recidivism: means a return to criminal activity after a previous criminal conviction. See Utah Code 64-13-1
  • Record: when used as a noun, means information or data, in whatever form maintained, including:
         (36)(a) a book;
         (36)(b) a document;
         (36)(c) a paper;
         (36)(d) a file;
         (36)(e) an application file;
         (36)(f) a policyholder list;
         (36)(g) policy information;
         (36)(h) a claim or claim file;
         (36)(i) an account;
         (36)(j) a voucher;
         (36)(k) a litigation file;
         (36)(l) a premium record;
         (36)(m) a rate book;
         (36)(n) an underwriting manual;
         (36)(o) a personnel record;
         (36)(p) a financial record; or
         (36)(q) other material. See Utah Code 31A-27a-102
  • Reinsurance: means a transaction or contract under which an assuming insurer agrees to indemnify a ceding insurer against all, or a part, of a loss that the ceding insurer may sustain under the one or more policies that the ceding insurer issues or will issue. See Utah Code 31A-27a-102
  • Reinsurer: means a person licensed in this state as an insurer with the authority to assume reinsurance. See Utah Code 31A-1-301
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Repurchase agreement: is a s defined in the Federal Deposit Insurance Act, Utah Code 31A-27a-102
  • Secured claim: means , subject to Subsection (39)(b):
              (39)(a)(i) a claim secured by an asset that is not a general asset; or
              (39)(a)(ii) the right to set off as provided in Section 31A-27a-510. See Utah Code 31A-27a-102
  • Securities contract: is a s defined in the Federal Deposit Insurance Act, Utah Code 31A-27a-102
  • Security: means a:
              (176)(a)(i) note;
              (176)(a)(ii) stock;
              (176)(a)(iii) bond;
              (176)(a)(iv) debenture;
              (176)(a)(v) evidence of indebtedness;
              (176)(a)(vi) certificate of interest or participation in a profit-sharing agreement;
              (176)(a)(vii) collateral-trust certificate;
              (176)(a)(viii) preorganization certificate or subscription;
              (176)(a)(ix) transferable share;
              (176)(a)(x) investment contract;
              (176)(a)(xi) voting trust certificate;
              (176)(a)(xii) certificate of deposit for a security;
              (176)(a)(xiii) certificate of interest of participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease;
              (176)(a)(xiv) commodity contract or commodity option;
              (176)(a)(xv) certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the items listed in Subsections (176)(a)(i) through (xiv); or
              (176)(a)(xvi) another interest or instrument commonly known as a security. See Utah Code 31A-1-301
  • Serious illness: means , as determined by the inmate's physician, an illness that substantially impairs the inmate's quality of life. See Utah Code 64-13-1
  • Serious injury: means , as determined by the inmate's physician, bodily injury that involves a substantial risk of death, prolonged unconsciousness, prolonged and obvious disfigurement, or prolonged loss or impairment of the function of a bodily member, organ, or mental faculty. See Utah Code 64-13-1
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Sex: means , in relation to an individual, the individual's biological sex, either male or female, at birth, according to distinct reproductive roles as manifested by:
         (34)(a) sex and reproductive organ anatomy;
         (34)(b) chromosomal makeup; and
         (34)(c) endogenous hormone profiles. See Utah Code 68-3-12.5
  • Special deposit: means a deposit established pursuant to statute for the security or benefit of a limited class or classes of persons. See Utah Code 31A-27a-102
  • State: means a state, district, or territory of the United States. See Utah Code 31A-27a-102
  • 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
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Surplus: means the excess of assets over the sum of paid-in capital and liabilities. See Utah Code 31A-1-301
  • Swap agreement: is a s defined in the Federal Deposit Insurance Act, Utah Code 31A-27a-102
  • Title insurance: means the insuring, guaranteeing, or indemnifying of an owner of real or personal property or the holder of liens or encumbrances on that property, or others interested in the property against loss or damage suffered by reason of liens or encumbrances upon, defects in, or the unmarketability of the title to the property, or invalidity or unenforceability of any liens or encumbrances on the property. See Utah Code 31A-1-301
  • Total adjusted capital: means the sum of an insurer's or health organization's statutory capital and surplus as determined in accordance with:
         (189)(a) the statutory accounting applicable to the annual financial statements required to be filed under Section 31A-4-113; and
         (189)(b) another item provided by the RBC instructions, as RBC instructions is defined in Section 31A-17-601. See Utah Code 31A-1-301
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Transfer: includes the sale and every other and different mode of disposing of or parting with property or with an interest in property, whether:
              (46)(a)(i) directly or indirectly;
              (46)(a)(ii) absolutely or conditionally;
              (46)(a)(iii) voluntarily or involuntarily; or
              (46)(a)(iv) by or without judicial proceedings. See Utah Code 31A-27a-102
  • United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
  • Woman: means an adult human female. See Utah Code 68-3-12.5
  • Writing: includes :
         (48)(a) printing;
         (48)(b) handwriting; and
         (48)(c) information stored in an electronic or other medium if the information is retrievable in a perceivable format. See Utah Code 68-3-12.5