Utah Admin. Code R590-116-3 - Definitions

Current through Bulletin No. 2021-18, September 15, 2021

In addition to the definitions of Section 31A-1-301, the following definitions shall apply for the purposes of this rule:

A. "Valuation of Securities" shall mean the publication of the Securities Valuation Office of the National Association of Insurance Commissioners (NAIC).
B. "Amortizable" shall mean having been accorded that rating in "Valuation of Securities".
C. "In Good Standing" shall mean having been accorded that rating in "Valuation of Securities".
D. "Purchase Money Mortgages" shall mean mortgages or liens received as consideration, either in whole or part, on the disposal of real estate which secures such mortgage or liens.
E. "Burial Certificate" or "Burial Contract" if issued by an insurer shall be defined as an insurance contract and not as a security.

Notes

Utah Admin. Code R590-116-3

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