Utah Administrative Code
Topic - Insurance
Title R590 - Administration
Rule R590-280 - Counting Short-Term Funds
Section R590-280-3 - Definitions
Universal Citation: UT Admin Code R 590-280-3
Current through Bulletin 2024-06, March 15, 2024
Terms used in this rule are defined in Sections 31A-1-301 and 31A-17-601. Additional terms are defined as follows:
(1) "SBA" means the United States Small Business Administration.
(2) "Short-term funds" means a sum of money that an insurer loans to an SBA borrower to fund the SBA borrower's anticipated use of SBA 504 loan proceeds where the insurer's loan is secured by a lien on real property or by any other form of collateral authorized by the commissioner.
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