Sections
Part 1 2007 General Obligation Bond Authorizations 63B-16-101 – 63B-16-102
Part 2 2007 Revenue Bond Authorizations 63B-16-201 – 63B-16-202
Part 3 2007 Capital Facility Construction Authorizations 63B-16-301
Part 4 2007 Property Acquisition, Sale, Lease, and Exchange Authorizations 63B-16-401

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Terms Used In Utah Code > Title 63B > Chapter 16 - 2007 Bonding and Financing Authorizations

  • Accident and health insurance: means insurance to provide protection against economic losses resulting from:
              (1)(a)(i) a medical condition including:
                   (1)(a)(i)(A) a medical care expense; or
                   (1)(a)(i)(B) the risk of disability;
              (1)(a)(ii) accident; or
              (1)(a)(iii) sickness. See Utah Code 31A-1-301
  • 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
  • business of insurance: includes :
         (98)(a) providing health care insurance by an organization that is or is required to be licensed under this title;
         (98)(b) providing a benefit to an employee in the event of a contingency not within the control of the employee, in which the employee is entitled to the benefit as a right, which benefit may be provided either:
              (98)(b)(i) by a single employer or by multiple employer groups; or
              (98)(b)(ii) through one or more trusts, associations, or other entities;
         (98)(c) providing an annuity:
              (98)(c)(i) including an annuity issued in return for a gift; and
              (98)(c)(ii) except an annuity provided by a person specified in Subsections 31A-22-1305(2) and (3);
         (98)(d) providing the characteristic services of a motor club;
         (98)(e) providing another person with insurance;
         (98)(f) making as insurer, guarantor, or surety, or proposing to make as insurer, guarantor, or surety, a contract or policy offering title insurance;
         (98)(g) transacting or proposing to transact any phase of title insurance, including:
              (98)(g)(i) solicitation;
              (98)(g)(ii) negotiation preliminary to execution;
              (98)(g)(iii) execution of a contract of title insurance;
              (98)(g)(iv) insuring; and
              (98)(g)(v) transacting matters subsequent to the execution of the contract and arising out of the contract, including reinsurance;
         (98)(h) transacting or proposing a life settlement; and
         (98)(i) doing, or proposing to do, any business in substance equivalent to Subsections (98)(a) through (h) in a manner designed to evade this title. See Utah Code 31A-1-301
  • City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
  • Commission: means the State Bonding Commission created in Section 63B-1-201. See Utah Code 63B-1-101
  • Credit accident and health insurance: means insurance on a debtor to provide indemnity for payments coming due on a specific loan or other credit transaction while the debtor has a disability. See Utah Code 31A-1-301
  • Credit life insurance: means insurance on the life of a debtor in connection with an extension of credit that pays a person if the debtor dies. See Utah Code 31A-1-301
  • Department: means the Insurance Department. See Utah Code 31A-1-301
  • Division: means the Division of Facilities Construction and Management. See Utah Code 63B-1-101
  • Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Health organization: means :
         (3)(b) that is:
              (3)(b)(i) a health maintenance organization;
              (3)(b)(ii) a limited health service organization;
              (3)(b)(iii) a dental or vision plan;
              (3)(b)(iv) a hospital, medical, and dental indemnity or service corporation; or
              (3)(b)(v) other managed care organization. See Utah Code 31A-17-601
  • Highway: includes :
         (15)(a) a public bridge;
         (15)(b) a county way;
         (15)(c) a county road;
         (15)(d) a common road; and
         (15)(e) a state road. See Utah Code 68-3-12.5
  • 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
  • Land: includes :
         (18)(a) land;
         (18)(b) a tenement;
         (18)(c) a hereditament;
         (18)(d) a water right;
         (18)(e) a possessory right; and
         (18)(f) a claim. See Utah Code 68-3-12.5
  • 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
  • Life insurance: means :
              (114)(a)(i) insurance on a human life; and
              (114)(a)(ii) insurance pertaining to or connected with human life. See Utah Code 31A-1-301
  • Market: means the interaction between buyers and sellers consisting of a:
              (8)(a)(i) product component; and
              (8)(a)(ii) geographic component. See Utah Code 31A-19a-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.
  • 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
  • Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
  • Property: includes both real and personal property. See Utah Code 68-3-12.5
  • Rate: means that cost of insurance per exposure unit either expressed as:
              (12)(a)(i) a single number; or
              (12)(a)(ii) as a pure premium rate, adjusted before any application of individual risk variations, based on loss or expense considerations to account for the treatment of:
                   (12)(a)(ii)(A) expenses;
                   (12)(a)(ii)(B) profit; and
                   (12)(a)(ii)(C) individual insurer variation in loss experience. See Utah Code 31A-19a-102
  • Reinsurance: means an insurance transaction where an insurer, for consideration, transfers any portion of the risk it has assumed to another insurer. See Utah Code 31A-1-301
  • Road: includes :
         (33)(a) a public bridge;
         (33)(b) a county way;
         (33)(c) a county road;
         (33)(d) a common road; and
         (33)(e) a state road. See Utah Code 68-3-12.5
  • 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