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7-4A-505
Section 7-4A-505 Preclusion of objection to debit of customer's account. If a receiving bank
has received payment from its customer with respect to a payment order issued in the name
of the customer as sender and accepted by the bank, and the customer received notification
reasonably identifying the order, the customer is precluded from asserting that the bank is
not entitled to retain the payment unless the customer notifies the bank of the customer's
objection to the payment within one year after the notification was received by the customer.
(Acts 1992, 2nd Ex. Sess., No. 92-701, p. 145, §1.)...
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7-4A-201
Section 7-4A-201 Security procedure. "Security procedure" means a procedure established
by agreement of a customer and a receiving bank for the purpose of (i) verifying that a payment
order or communication amending or cancelling a payment order is that of the customer, or
(ii) detecting error in the transmission or the content of the payment order or communication.
A security procedure may require the use of algorithms or other codes, identifying words or
numbers, encryption, callback procedures, or similar security devices. Comparison of a signature
on a payment order or communication with an authorized specimen signature of the customer
is not by itself a security procedure. (Acts 1992, 2nd Ex. Sess., No. 92-701, p. 145, §1.)...
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7-4A-203
Section 7-4A-203 Unenforceability of certain verified payment orders. (a) If an accepted payment
order is not, under Section 7-4A-202(a), an authorized order of a customer identified as sender,
but is effective as an order of the customer pursuant to Section 7-4A-202(b), the following
rules apply: (1) By express written agreement, the receiving bank may limit the extent to
which it is entitled to enforce or retain payment of the payment order. (2) The receiving
bank is not entitled to enforce or retain payment of the payment order if the customer proves
that the order was not caused, directly or indirectly, by a person (i) entrusted at any time
with duties to act for the customer with respect to payment orders or the security procedure,
or (ii) who obtained access to transmitting facilities of the customer or who obtained, from
a source controlled by the customer and without authority of the receiving bank, information
facilitating breach of the security procedure, regardless of how...
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7-3-312
Section 7-3-312 Lost, destroyed, or stolen cashier's check, teller's check, or certified check.
(a) In this section: (1) "Check" means a cashier's check, teller's check, or certified
check. (2) "Claimant" means a person who claims the right to receive the amount
of a cashier's check, teller's check, or certified check that was lost, destroyed, or stolen.
(3) "Declaration of loss" means a written statement, made under penalty of perjury,
to the effect that (i) the declarer lost possession of a check, (ii) the declarer is the drawer
or payee of the check, in the case of a certified check, or the remitter or payee of the check,
in the case of a cashier's check or teller's check, (iii) the loss of possession was not the
result of a transfer by the declarer or a lawful seizure, and (iv) the declarer cannot reasonably
obtain possession of the check because the check was destroyed, its whereabouts cannot be
determined, or it is in the wrongful possession of an unknown person or a person that...
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8-6-2
Section 8-6-2 Definitions. When used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) COMMISSION or SECURITIES COMMISSION. The securities commission. (2) AGENT. Any individual
other than a dealer who represents a dealer or issuer in effecting or attempting to effect
sales of securities, but such term does not include an individual who represents an issuer
in: a. Effecting a transaction in a security exempted by subdivisions (1), (2), (3), (4),
(9) or (10) of Section 8-6-10; b. Effecting transactions exempted by Section 8-6-11; or c.
Effecting transactions with existing employees, partners, or directors of the issuer if no
commission or other remuneration is paid or given directly or indirectly for soliciting any
person in this state. A partner, officer, or director of a dealer or issuer is an agent if
he otherwise comes within this definition. (3) DEALER. Any person engaged in the...
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16-24B-3
officer make a recommendation to the employing board followed by a majority vote of the board
not to offer a new, renewed, or extended contract to the contract principal, the vote of the
employing board shall be made at least 90 days before the end of the existing contract. The
recommendation shall contain written notice of the decision of the chief executive officer
and the reasons for the decision to nonrenew the contract. Notice shall be provided to the
contract principal either by personal service or by certified mail, return receipt
requested, mailed to the last known address of the contract principal. The decision of the
chief executive officer and the employing board may be based on any reason except personal
or political reasons. (d) Nothing in this section or chapter shall be construed to confer
continuing service status or nonprobationary status on any contract or probationary principal.
(e)(1) An employing board may cancel the contract of a contract principal for cause...
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27-42-8
an amount as follows: 1. The full amount of a covered claim for benefits under workers' compensation
insurance coverage. 2. An amount not exceeding ten thousand dollars ($10,000) per policy for
a covered claim for the return of unearned premium. 3. An amount not exceeding three hundred
thousand dollars ($300,000) or the policy limits, whichever is less, per claim for all covered
claims. For purposes of this limitation, all claims of any kind whatsoever arising out of,
or related to, bodily injury or death to any one person shall constitute a single claim,
regardless of the number of claims made or the number of claimants. b. In no event shall the
association be obligated to pay a claimant an amount in excess of the obligation of the insolvent
insurer under the policy or coverage from which the claim arises. c. Notwithstanding any other
provisions of this chapter, a covered claim shall not include any claim filed with the association
after the earlier of: 1. Twenty-five months...
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27-61-1
functions. 5. CORPORATE RECORDS OF THE COMMISSION The Commission shall maintain its corporate
books and records in accordance with the Bylaws. 6. QUALIFIED IMMUNITY, DEFENSE, AND INDEMNIFICATION
a. The Members, officers, executive director, employees, and representatives of the Commission,
the Executive Committee, and any other Committee of the Commission shall be immune from suit
and liability, either personally or in their official capacity, for any claim for damage to
or loss of property or personal injury or other civil liability caused by or
arising out of any actual or alleged act, error, or omission that occurred, or that the person
against whom the claim is made had a reasonable basis for believing occurred within the scope
of Commission employment, duties, or responsibilities; provided that nothing in this paragraph
shall be construed to protect any such person from suit and/or liability for any damage, loss,
injury, or liability caused by the intentional or willful or wanton...
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27-6A-4
Section 27-6A-4 Contract requirements. No person, firm, association, or corporation acting
in the capacity of a managing general agent shall place business with an insurer unless there
is in force a written contract between the parties that sets forth the responsibilities of
each party and where both parties share responsibility for a particular function, specifies
the division of such responsibilities, and that contains the following minimum provisions:
(a) The insurer may terminate the contract for cause upon written notice to the managing general
agent. The insurer may suspend the underwriting authority of the managing general agent during
the pendency of any dispute regarding the cause for termination. (b) The managing general
agent shall render accounts to the insurer detailing all transactions and remit all funds
due under the contract to the insurer on not less than a monthly basis. (c) All funds collected
for the account of an insurer will be held by the managing general agent...
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32-8-87
or any other person pays or makes other monetary settlement to a person when a vehicle is damaged
and the damage to the vehicle is greater than or equal to 75 percent of the fair retail value
of the vehicle prior to damage as set forth in a current edition of a nationally recognized
compilation of retail values, including automated data bases. The compensation for total loss
as defined in this subsection shall not include payments by an insurer or other person for
medical care, bodily injury, vehicle rental, or for anything other than the amount
paid for the actual damage to the motor vehicle. A vehicle that has sustained minor damage
as a result of theft or vandalism shall not be considered a total loss. Any person acquiring
ownership of a damaged motor vehicle that meets the definition of total loss for which a salvage
title has not been issued shall apply for a salvage title, other than a scrap metal processor
acquiring such vehicle for purposes of recycling into metallic...
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