Terms Used In Utah Code > Title 31A > Chapter 7 > Part 4 - Reorganization

• Adjudicative proceeding: means :
       (2)(a) an action by a board, commission, department, officer, or other administrative unit of the state that determines the legal rights, duties, privileges, immunities, or other legal interests of one or more identifiable persons, including an action to grant, deny, revoke, suspend, modify, annul, withdraw, or amend an authority, right, or license; and
       (2)(b) judicial review of an action described in Subsection (2)(a). See Utah Code 68-3-12.5
• Adverse action: means to:
       (1)(a) discharge, threaten, or directly or indirectly harass an employee; or
       (1)(b) otherwise discriminate against an employee in any manner that affects the employee's employment, including:

            (1)(b)(i) compensation;

            (1)(b)(ii) terms;

            (1)(b)(iii) conditions;

            (1)(b)(iv) location;

            (1)(b)(v) rights;

            (1)(b)(vi) immunities;

            (1)(b)(vii) promotions; or

            (1)(b)(viii) privileges. See Utah Code 61-1-102
• 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
• Armed forces: means the United States Army, Navy, Air Force, Marine Corps, Space Force, and Coast Guard. See Utah Code 68-3-12.5
• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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
• Commission: means the Securities Commission created in Section Utah Code 61-1-13
• Contract: A legal written agreement that becomes binding when signed.
• 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
• 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.
• Covered judicial or administrative action: means a judicial or administrative action brought under this chapter that results in a monetary sanction exceeding $50,000. See Utah Code 61-1-102
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Division: means the Division of Securities established by Section 61-1-18. See Utah Code 61-1-13
• Employee: means an individual who performs a service for wages or other remuneration under a contract of hire, written or oral, express or implied. See Utah Code 61-1-102
• 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.
• Fraud: Intentional deception resulting in injury to another.
• Fund: means the Securities Investor Education, Training, and Enforcement Fund created in Section Utah Code 61-1-102
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• 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
• 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.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Monetary sanction: means money required to be paid under this chapter as the result of a judicial or administrative action, including a penalty or disgorgement. See Utah Code 61-1-102
• Mutual: means a mutual insurance corporation. See Utah Code 31A-1-301
• Original information: means information that is:
       (5)(a) derived from the independent knowledge or analysis of an individual;
       (5)(b) not known to the division or commission from a source other than the individual; and
       (5)(c) unless the individual is the source of the information, not exclusively derived from:

            (5)(c)(i) an allegation made in a judicial or administrative hearing;

            (5)(c)(ii) a government report, hearing, audit, or investigation; or

            (5)(c)(iii) the media. See Utah Code 61-1-102
• Person: means :
            (1)(x)(i) an individual;
            (1)(x)(ii) a corporation;
            (1)(x)(iii) a partnership;
            (1)(x)(iv) a limited liability company;
            (1)(x)(v) an association;
            (1)(x)(vi) a joint-stock company;
            (1)(x)(vii) a joint venture;
            (1)(x)(viii) a trust where the interests of the beneficiaries are evidenced by a security;
            (1)(x)(ix) an unincorporated organization;
            (1)(x)(x) a government; or
            (1)(x)(xi) a political subdivision of a government. See Utah Code 61-1-13
• Proceeding: includes an action or special statutory proceeding. See Utah Code 31A-1-301
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Reporter: means an individual who provides original information relating to a violation in accordance with Section 61-1-103. See Utah Code 61-1-102
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• State: means a state, territory, or possession of the United States, the District of Columbia, and Puerto Rico. See Utah Code 61-1-13
• Statute: A law passed by a legislature.
• Undue influence: means that a person uses a relationship or position of authority, trust, or confidence:
            (1)(hh)(i) that is unrelated to a relationship created:

                 (1)(hh)(i)(A) in the ordinary course of making investments regulated under this chapter; or

                 (1)(hh)(i)(B) by a licensee providing services under this chapter;
            (1)(hh)(ii) that results in:

                 (1)(hh)(ii)(A) an investor perceiving the person as having heightened credibility, personal trustworthiness, or dependability; or

                 (1)(hh)(ii)(B) the person having special access to or control of an investor's financial resources, information, or circumstances; and
            (1)(hh)(iii) to:

                 (1)(hh)(iii)(A) exploit the trust, dependence, or fear of the investor;

                 (1)(hh)(iii)(B) knowingly assist or cause another to exploit the trust, dependence, or fear of the investor; or

                 (1)(hh)(iii)(C) gain control deceptively over the decision making of the investor. See Utah Code 61-1-13
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Vulnerable adult: means the same as that term is defined in Section 26B-6-201. See Utah Code 61-1-13
• 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