31A-5-101. Definitions.
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31A-5-101. Definitions.
In this chapter, unless the context requires otherwise:
(1)The definitions of the following terms applicable to the Utah Revised Business Corporation Act in Section 16-10a-102 apply to stock corporations:
(a)"affiliate";
(b)"mail"; and
(c)"notice."
(2)The definitions to the following terms applicable to nonprofit corporations in Section 16-6a-102 apply to mutuals:
(a)"articles of incorporation";
(b)"bylaws"; and
(c)"member."
(3)"Promoter securities" are securities issued by a stock insurer to the incorporators, directors, officers, or their families or nominees at any time prior to, and up to one year following, the issuance of a certificate of authority to the stock insurer.
Amended by Chapter 386 , 2009 General Session