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26-2A-20
Section 26-2A-20 General definitions. As used in this chapter the following terms shall have
the following meanings, respectively, unless the context clearly indicates otherwise: (1)
CLAIMS. In respect of a protected person, includes liabilities of the protected person, whether
arising in contract, tort, or otherwise, and liabilities of the estate which arise at or after
the appointment of a conservator, including expenses of administration. (2) CONSERVATOR. A
person who is appointed by a court to manage the estate of a protected person and includes
a limited conservator described in Section 26-2A-148(a). (3) COURT. A probate court of this
state. (4) COURT REPRESENTATIVE. A person appointed in a guardianship or protective proceeding
who is trained in law, nursing, or social work, is an officer, employee, or special appointee
of the court, and has no personal interest in the proceeding. (5) DISABILITY. Cause for a
protective order as described in Section 26-2A-130. (6) ESTATE. Includes...
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27-14-24
Section 27-14-24 Effect of payments. Whenever the proceeds of, or payments under, a life or
disability insurance policy or annuity contract, heretofore or hereafter issued, become payable
in accordance with the terms of such policy or contract, or the exercise of any right or privilege
thereunder, and the insurer makes payment thereof in accordance with the terms of the policy
or contract or in accordance with any written assignment thereof, the person then designated
in the policy or contract, or by such assignment, as being entitled thereto shall be entitled
to receive such proceeds or payments and to give full acquittance therefor; and such payments
shall fully discharge the insurer from all claims under the policy or contract, unless, before
payment is made, the insurer has received at its home office written notice by, or on behalf
of, some other person that such other person claims to be entitled to such payment or some
interest in the policy or contract. (Acts 1971, No. 407, p....
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6-10-2
Section 6-10-2 Homestead exemption - Amount; area. The homestead of every resident of this
state, with the improvements and appurtenances, not exceeding in value fifteen thousand dollars
($15,000) and in area 160 acres, shall be, to the extent of any interest he or she may have
therein, whether a fee or less estate or whether held in common or in severalty, exempt from
levy and sale under execution or other process for the collection of debts during his or her
life and occupancy and, if he or she leaves surviving him or her a spouse and a minor child,
or children, or either, during the life of the surviving spouse and minority of the child,
or children, but the area of the homestead shall not be enlarged by reason of any encumbrance
thereon or of the character of the estate or interest owned therein by him or her. When a
husband and wife jointly own a homestead each is entitled to claim separately the exemption
provided herein, to the same extent and value as an unmarried individual....
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27-16-12
Section 27-16-12 Policy provisions - Beneficiaries; payment to other than designated beneficiary.
(a) Each such policy shall have a space for the name of the beneficiary designated with a
reservation of the right to designate or change the beneficiary after the issuance of the
policy. (b) The policy may also provide that no designation or change of beneficiary shall
be binding on the insurer until endorsed on the policy by the insurer and that the insurer
may refuse to endorse the name of any proposed beneficiary who does not appear to the insurer
to have an insurable interest in the life of the insured. (c) Such a policy may also provide
that if the beneficiary designated in the policy does not make a claim under the policy or
does not surrender the policy with due proof of death within the period stated in the policy,
which shall be not less than 30 days after the death of the insured, or if the beneficiary
is the estate of the insured, or is a minor, or dies before the insured or is...
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27-17A-3
Section 27-17A-3 Funding of preneed contracts; premium payments; commissions; preneed seller
as beneficiary or assignee. (a) Nothing in this chapter shall be construed to prohibit the
funding of preneed contracts with multiple insurance or annuity contracts. Life insurance
and annuity contracts used to fund preneed contracts shall conform with the provisions of
this title as they relate to life insurance and annuities and shall cover not less than the
initial retail price of the preneed contract. (b) The initial premium payment for a life insurance
policy or annuity contract shall be made payable to the issuing insurance company and the
preneed seller shall remit the payment to the insurance company within 10 business days after
the insurance application is signed by the parties. If a preneed contract provides for installment
payments, each premium payment shall be made payable to the insurance company and, if collected
by the preneed seller, shall be remitted to the insurance company...
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27-7-4.2
Section 27-7-4.2 Licenses - Applicability to insurance producer. (a) Nothing in this chapter
shall be construed to require an insurer to obtain an insurance producer license. In this
section, the term "insurer" does not include an insurer's officers, directors, employees,
subsidiaries, or affiliates. (b) A license as an insurance producer shall not be required
of any of the following: (1) An officer, director, or employee of an insurer or of an insurance
producer, provided that the officer, director, or employee does not receive any commission
on policies written or sold to insure risks residing, located, or to be performed in this
state and any of the following: a. The officer, director, or employee's activities are executive,
administrative, managerial, clerical, or a combination of these, and are only indirectly related
to the sale, solicitation, or negotiation of insurance. b. The officer, director, or employee's
function relates to underwriting, loss control, inspection, or the...
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35-12-71
Section 35-12-71 Definitions. As used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) APPARENT OWNER. A person whose name appears on the records of a holder as the person entitled
to property held, issued, or owing by the holder. (2) BUSINESS ASSOCIATION. A corporation,
joint stock company, investment company, partnership, unincorporated association, joint venture,
limited liability company, business trust, trust company, safe deposit company, financial
organization, insurance company, mutual fund, utility, or other business entity consisting
of one or more persons, whether or not for profit. (3) DOMICILE. The state of incorporation
of a corporation and the state of the principal place of business of a holder other than a
corporation. (4) FINANCIAL ORGANIZATION. A savings and loan association, building and loan
association, industrial loan organization, credit union, cooperative bank,...
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26-1-1
Section 26-1-1 Age of majority designated as 19 years. (a) Any person in this state, at the
arrival at the age of 19 years, shall be relieved of his or her disabilities of minority and
thereafter shall have the same legal rights and abilities as persons over 21 years of age.
No law of this state shall discriminate for or against any person between and including the
ages of 19 and 21 years solely on the basis of age. (b) This section shall also apply to any
person who arrived at the age of 19 and 20 years before July 22, 1975, but shall not abrogate
any defense or abridge any remedy available to him or her prior to such date. (c) All laws
or parts of laws which read "under the age of 21 years" hereafter shall read "under
the age of 19 years." Wherever the words "under the age of 21 years" appear
in any law limiting the legal rights and abilities of persons under such age, such words shall
be construed to mean under the age of 19 years. (d) Notwithstanding subsection (c), nothing
in this...
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39-2-6
Section 39-2-6 Award of contract; additional competitive bids; work done by force account;
availability of plans, etc.; use of convict labor; assignment of contract; agreements, etc.,
among bidders; advance disclosure; life cycle costs. (a) The contract shall be awarded to
the lowest responsible and responsive bidder, unless the awarding authority finds that all
the bids are unreasonable or that it is not to the interest of the awarding authority to accept
any of the bids. A responsible bidder is one who, among other qualities determined necessary
for performance, is competent, experienced, and financially able to perform the contract.
A responsive bidder is one who submits a bid that complies with the terms and conditions of
the invitation for bids. Minor irregularities in the bid shall not defeat responsiveness.
The bidder to whom the award is made shall be notified by telegram, confirmed facsimile, or
letter at the earliest possible date. If the successful bidder fails or refuses to...
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27-44-3
Section 27-44-3 Scope of chapter. (a) This chapter shall provide coverage for the policies
and contracts specified in subsection (b) as follows: (1) To persons who, regardless of where
they reside (except for non-resident certificate holders under group policies or contracts),
are the beneficiaries, assignees, or payees of the persons covered under subdivision (2).
(2) To persons who are owners of or certificate holders under the policies or contracts, other
than structured settlement annuities, and in each case who are either of the following: a.
Residents b. Not residents, but only under all of the following conditions: 1. The insurer
that issued the policies or contracts is domiciled in this state. 2. The states in which the
persons reside have associations similar to the association created by this chapter. 3. The
persons are not eligible for coverage by an association in any other state due to the fact
the insurer was not licensed in the state at the time specified in the state's...
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