R590-238-3. Definitions

  (1) The definitions in Sections 31A-1-301 and 31A-37-102 apply to this rule.

  (2) "Company" means a captive insurance company as defined in Section 31A-1-301.

  (3) "Work Papers" or "working papers" include, but are not necessarily limited to, schedules, analyses, reconciliations, abstracts, memoranda, narratives, flow charts, copies of company records or other documents prepared or obtained by the accountant and the accountant's employees in the conduct of their audit of the company.

  (4) "Captive Insurance Manager" means a person that:

  (a) is on the Utah Approved Captive Management Firms list;

  (b) pursuant to a written contract with a captive insurance company, provides and coordinates services including but not limited to:

  (i) accounting;

  (ii) statutory filings;

  (iii) signed annual statements; and

  (iv) coordination of related services;

  (c) acts as an intermediary that facilitates and assists the captive in meeting its statutory requirements under Title 31A.