Terms Used In Utah Code > Title 7 > Chapter 18a - Utah Foreign Depository Institutions Act

• Abatement action: includes control of the source of the contamination. See Utah Code 19-6-302
• Abatement action: means action taken to limit, reduce, mitigate, or eliminate:
       (1)(a) a release from a petroleum storage tank; or
       (1)(b) the damage caused by that release. See Utah Code 19-6-402
• Aboveground petroleum storage tank: means a storage tank that is, by volume, less than 10% buried in the ground, including the pipes connected to the storage tank and:
       (2)(a)

            (2)(a)(i) has attached underground piping; or

            (2)(a)(ii) rests directly on the ground;
       (2)(b) contains regulated substances;
       (2)(c) has the capacity to hold 501 gallons or more; and
       (2)(d) is not:

            (2)(d)(i) used in agricultural operations, as defined by the board by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act;

            (2)(d)(ii) used for heating oil for consumptive use on the premises where stored;

            (2)(d)(iii) related to a petroleum facility under SIC Code 2911 or 5171 of the 1987 Standard Industrial Classification Manual of the federal Executive Office of the President, Office of Management and Budget;

            (2)(d)(iv) directly related to oil or gas production and gathering operations; or

            (2)(d)(v) used in the fueling of aircraft or ground service equipment at a commercial airport that serves passengers or cargo, with commercial airport defined in Section 72-10-102. See Utah Code 19-6-402
• Adjudicative proceeding: means :
       (2)(a) an action by a board, commission, department, officer, or other administrative unit of the state that determines the legal rights, duties, privileges, immunities, or other legal interests of one or more identifiable persons, including an action to grant, deny, revoke, suspend, modify, annul, withdraw, or amend an authority, right, or license; and
       (2)(b) judicial review of an action described in Subsection (2)(a). See Utah Code 68-3-12.5
• Agency: means a place of business of a foreign depository institution located in this state that is authorized to exercise the powers permitted in Section 7-18a-301. See Utah Code 7-18a-102
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arts: includes traditional, folk, classical, ethnic, contemporary, and other art forms. See Utah Code 9-6-102
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bank: means a person authorized under the laws of this state, another state, or the United States to accept deposits from the public. See Utah Code 7-1-103
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Board: means the State Library Board created in Section 9-7-204. See Utah Code 9-7-101
• Board: means the Waste Management and Radiation Control Board created in Section 19-1-106. See Utah Code 19-6-402
• Bodily injury: means bodily harm, sickness, disease, or death sustained by a person. See Utah Code 19-6-402
• Bona fide prospective purchaser: has the meaning given in Utah Code 19-6-302
• Branch: when used in reference to a foreign depository institution, means a place of business of a foreign depository institution located in this state that is authorized to exercise the powers permitted in Section 7-18a-301. See Utah Code 7-18a-102
• CERCLA: means Utah Code 19-6-302
• Certificate of compliance: means a certificate issued to a facility by the director:
       (5)(a) demonstrating that an owner or operator of a facility containing one or more petroleum storage tanks has met the requirements of this part; and
       (5)(b) listing petroleum storage tanks at the facility, specifying:

            (5)(b)(i) which tanks may receive petroleum; and

            (5)(b)(ii) which tanks have not met the requirements for compliance. See Utah Code 19-6-402
• Certificate of registration: means a certificate issued to a facility by the director demonstrating that an owner or operator of a facility containing one or more petroleum storage tanks has:
       (6)(a) registered the tanks; and
       (6)(b) paid the annual tank fee. See Utah Code 19-6-402
• Certified petroleum storage tank consultant: means a person who:
            (7)(a)(i) for a fee, or in connection with services for which a fee is charged, provides or contracts to provide information, opinions, or advice relating to underground storage tank release:

                 (7)(a)(i)(A) management;

                 (7)(a)(i)(B) abatement;

                 (7)(a)(i)(C) investigation;

                 (7)(a)(i)(D) corrective action; or

                 (7)(a)(i)(E) evaluation;
            (7)(a)(ii) has submitted an application to the director;
            (7)(a)(iii) received a written statement of certification from the director; and
            (7)(a)(iv) meets the education and experience standards established by the board under Subsection 19-6-403(1)(a)(vii). See Utah Code 19-6-402
• City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• Cleanup action: means action taken according to the procedures established in this part to prevent, eliminate, minimize, mitigate, or clean up the release of a hazardous material from a facility. See Utah Code 19-6-302
• Closed: means a petroleum storage tank that is no longer in use that has been:
       (8)(a) emptied and cleaned to remove the liquids and accumulated sludges; and
       (8)(b)

            (8)(b)(i) removed along with all underground components; or

            (8)(b)(ii) filled with an inert solid material, and in the case of piping, secured and capped. See Utah Code 19-6-402
• Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Contiguous property owner: means a person who qualifies for the exemption from liability in Utah Code 19-6-302
• Contract: A legal written agreement that becomes binding when signed.
• control: means the power, directly or indirectly, or through or in concert with one or more persons, to:
       (5)(a) direct or exercise a controlling influence over:

            (5)(a)(i) the management or policies of a financial institution; or

            (5)(a)(ii) the election of a majority of the directors or trustees of an institution; or
       (5)(b) vote 25% or more of any class of voting securities of a financial institution. See Utah Code 7-1-103
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corrective action plan: means a plan for correcting a release from a petroleum storage tank that includes provisions for any of the following:
       (9)(a) cleanup or removal of the release;
       (9)(b) containment or isolation of the release;
       (9)(c) treatment of the release;
       (9)(d) correction of the cause of the release;
       (9)(e) monitoring and maintenance of the site of the release;
       (9)(f) provision of alternative water supplies to a person whose drinking water has become contaminated by the release; or
       (9)(g) temporary or permanent relocation, whichever is determined by the director to be more cost-effective, of a person whose dwelling has been determined by the director to be no longer habitable due to the release. See Utah Code 19-6-402
• Costs: means money expended for:
       (10)(a) investigation;
       (10)(b) abatement action;
       (10)(c) corrective action;
       (10)(d) judgments, awards, and settlements for bodily injury or property damage to third parties;
       (10)(e) legal and claims adjusting costs incurred by the state in connection with judgments, awards, or settlements for bodily injury or property damage to third parties; or
       (10)(f) costs incurred by the state risk manager in determining the actuarial soundness of the fund. See Utah Code 19-6-402
• Covered by the fund: means the requirements of Section 19-6-424 have been met. See Utah Code 19-6-402
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the Department of Financial Institutions. See Utah Code 7-1-103
• Department: means the Department of Cultural and Community Engagement. See Utah Code 9-1-102
• Department: means the Department of Environmental Quality. See Utah Code 19-1-103
• Depository institution: means a bank, savings and loan association, savings bank, industrial bank, credit union, or other institution that:
       (8)(a) holds or receives deposits, savings, or share accounts;
       (8)(b) issues certificates of deposit; or
       (8)(c) provides to its customers other depository accounts that are subject to withdrawal by checks, drafts, or other instruments or by electronic means to effect third party payments. See Utah Code 7-1-103
• Digital library: means the web-accessible digital library of state publications created under Section 9-7-208. See Utah Code 9-7-101
• Director: means the director of the Division of Environmental Response and Remediation. See Utah Code 19-6-402
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Division: means the Division of Arts and Museums. See Utah Code 9-6-102
• Division: means the State Library Division. See Utah Code 9-7-101
• Division: means the Division of Environmental Response and Remediation, created in Subsection 19-1-105(1)(c). See Utah Code 19-6-402
• Dwelling: means a building that is usually occupied by a person lodging there at night. See Utah Code 19-6-402
• Endowment fund: means any endowment fund created under this chapter by a qualifying organization. See Utah Code 9-6-501
• Enforcement action: means the procedures contained in Section 19-6-306 to enforce orders, rules, and agreements authorized by this part. See Utah Code 19-6-302
• Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executive director: means the executive director of the Department of Cultural and Community Engagement. See Utah Code 9-1-102
• Executive director: means the executive director of the department appointed pursuant to Section 19-1-104. See Utah Code 19-1-103
• Facility: means :
            (7)(a)(i) any building, structure, installation, equipment, pipe, or pipeline, including any pipe into a sewer or publicly owned treatment works, well, pit, pond, lagoon, impoundment, ditch, landfill, storage container, motor vehicle, rolling stock, or aircraft; or
            (7)(a)(ii) any site or area where a hazardous material or substance has been deposited, stored, disposed of, or placed, or otherwise come to be located. See Utah Code 19-6-302
• Facility: means the petroleum storage tanks located on a single parcel of property or on any property adjacent or contiguous to that parcel. See Utah Code 19-6-402
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreign depository institution: means a depository institution chartered or authorized to transact business by a foreign government. See Utah Code 7-1-103
• Fund: means the Hazardous Substances Mitigation Fund created by Section 19-6-307. See Utah Code 19-6-302
• Fund: means the Petroleum Storage Tank Fund created in Section 19-6-409. See Utah Code 19-6-402
• Hazardous materials: means hazardous waste as defined in the Utah Hazardous Waste Management Regulations, PCBs, dioxin, asbestos, or a substance regulated under Utah Code 19-6-302
• Hazardous substances: means the definition of hazardous substances contained in CERCLA. See Utah Code 19-6-302
• Hazardous substances priority list: means a list of facilities meeting the criteria established by Section 19-6-311 that may be addressed under the authority of this part. See Utah Code 19-6-302
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Innocent landowner: means a person who qualifies for the exemption from liability in Utah Code 19-6-302
• Institution: means :
       (19)(a) a corporation;
       (19)(b) a limited liability company;
       (19)(c) a partnership;
       (19)(d) a trust;
       (19)(e) an association;
       (19)(f) a joint venture;
       (19)(g) a pool;
       (19)(h) a syndicate;
       (19)(i) an unincorporated organization; or
       (19)(j) any form of business entity. See Utah Code 7-1-103
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Land: includes :
       (18)(a) land;
       (18)(b) a tenement;
       (18)(c) a hereditament;
       (18)(d) a water right;
       (18)(e) a possessory right; and
       (18)(f) a claim. See Utah Code 68-3-12.5
• Legislative staff office: means the Office of Legislative Research and General Counsel. See Utah Code 9-7-101
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Library board: means the library board of directors appointed locally as authorized by Section 9-7-402 or 9-7-502 and which exercises general policy authority for library services within a city or county of the state, regardless of the title by which the board is known locally. See Utah Code 9-7-101
• Lien: A claim against real or personal property in satisfaction of a debt.
• Liquidation: means the act or process of winding up the affairs of an institution subject to the jurisdiction of the department by realizing upon assets, paying liabilities, and appropriating profit or loss, as provided in Chapter 2, Possession of Depository Institution by Commissioner, and Chapter 19, Acquisition of Failing Depository Institutions or Holding Companies. See Utah Code 7-1-103
• Liquidator: means a person, agency, or instrumentality of this state or the United States appointed to conduct a liquidation. See Utah Code 7-1-103
• Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• National Contingency Plan: means the National Oil and Hazardous Substance Contingency plan established by CERCLA. See Utah Code 19-6-302
• National Priority List: means the list established by CERCLA. See Utah Code 19-6-302
• National priority list site: means a site in Utah that is listed on the National Priority List. See Utah Code 19-6-302
• Oath: A promise to tell the truth.
• Oath: includes "affirmation. See Utah Code 68-3-12.5
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Operator: means a person in control of or who is responsible on a daily basis for the maintenance of a petroleum storage tank that is in use for the storage, use, or dispensing of a regulated substance. See Utah Code 19-6-402
• Owner: means :
       (19)(a) in the case of an underground storage tank in use on or after November 8, 1984, a person who owns an underground storage tank used for the storage, use, or dispensing of a regulated substance;
       (19)(b) in the case of an underground storage tank in use before November 8, 1984, but not in use on or after November 8, 1984, a person who owned the tank immediately before the discontinuance of its use for the storage, use, or dispensing of a regulated substance; and
       (19)(c) in the case of an aboveground petroleum storage tank, a person who owns the aboveground petroleum storage tank. See Utah Code 19-6-402
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means :
       (27)(a) an individual;
       (27)(b) a corporation;
       (27)(c) a limited liability company;
       (27)(d) a partnership;
       (27)(e) a trust;
       (27)(f) an association;
       (27)(g) a joint venture;
       (27)(h) a pool;
       (27)(i) a syndicate;
       (27)(j) a sole proprietorship;
       (27)(k) an unincorporated organization; or
       (27)(l) any form of business entity. See Utah Code 7-1-103
• Person: means an individual, trust, firm, estate, company, corporation, partnership, association, state, state or federal agency or entity, municipality, commission, or political subdivision of a state. See Utah Code 19-1-103
• Petroleum: includes crude oil or a fraction of crude oil that is liquid at:
       (20)(a) 60 degrees Fahrenheit; and
       (20)(b) a pressure of 14. See Utah Code 19-6-402
• Petroleum storage tank: means a tank that:
       (21)(a) is an underground storage tank;
       (21)(b) is an aboveground petroleum storage tank; or
       (21)(c) is a tank containing regulated substances that is voluntarily submitted for participation in the Petroleum Storage Tank Fund under Section 19-6-415. See Utah Code 19-6-402
• Political subdivision: means a county, city, town, school district, public transit district, redevelopment agency, or special improvement or taxing district. See Utah Code 9-7-101
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Probate: Proving a will
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Program: means the Environmental Assurance Program under Section Utah Code 19-6-402
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• Property damage: means physical injury to, destruction of, or loss of use of tangible property. See Utah Code 19-6-402
• Qualifying organization: means any Utah nonprofit arts or museum organization that qualifies under this chapter to create an endowment fund, receive state money into the endowment fund, match state money deposited into the endowment fund, and expend interest earned on the endowment fund. See Utah Code 9-6-501
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: includes :
       (31)(a) land;
       (31)(b) a tenement;
       (31)(c) a hereditament;
       (31)(d) a water right;
       (31)(e) a possessory right; and
       (31)(f) a claim. See Utah Code 68-3-12.5
• Receiver: means a person, agency, or instrumentality of this state or the United States appointed to administer and manage an institution subject to the jurisdiction of the department in receivership, as provided in Chapter 2, Possession of Depository Institution by Commissioner, and Chapter 19, Acquisition of Failing Depository Institutions or Holding Companies. See Utah Code 7-1-103
• Regulated substance: includes motor fuels, jet fuels, distillate fuel oils, residual fuel oils, lubricants, petroleum solvents, and used oils. See Utah Code 19-6-402
• Release: includes abandoning or discarding barrels, containers, and other closed receptacles containing any hazardous material or substance, unless the discard or abandonment is authorized under state or federal law, rule, or regulation. See Utah Code 19-6-302
• Release: means spilling, leaking, emitting, discharging, escaping, leaching, or disposing a regulated substance from a petroleum storage tank into ground water, surface water, or subsurface soils. See Utah Code 19-6-402
• Remedial action: means action taken consistent with the substantive requirements of CERCLA according to the procedures established by this part to prevent, eliminate, minimize, mitigate, or clean up the release of a hazardous substance from a facility on the hazardous substances priority list. See Utah Code 19-6-302
• Remedial action plan: means a plan for remedial action consistent with the substantive requirements of CERCLA and approved by the executive director. See Utah Code 19-6-302
• Remedial investigation: means a remedial investigation and feasibility study as defined in the National Contingency Plan established by CERCLA. See Utah Code 19-6-302
• Representative office: means a place of business of a foreign depository institution located in this state that is authorized to exercise powers permitted in Section 7-18a-301. See Utah Code 7-18a-102
• Responsible party: means :
            (21)(a)(i) the owner or operator of a facility;
            (21)(a)(ii) any person who, at the time any hazardous substance or material was disposed of at the facility, owned or operated the facility;
            (21)(a)(iii) any person who arranged for disposal or treatment, or arranged with a transporter for transport, for disposal, or treatment of hazardous materials or substances owned or possessed by the person, at any facility owned or operated by another person and containing the hazardous materials or substances; or
            (21)(a)(iv) any person who accepts or accepted any hazardous materials or substances for transport to a facility selected by that person from which there is a release that causes the incurrence of response costs. See Utah Code 19-6-302
• Responsible party: is a s defined in Subsections (27)(a)(i), (ii), and (iii) does not include:
            (27)(b)(i) a person who is not an operator and, without participating in the management of a facility and otherwise not engaged in petroleum production, refining, and marketing, holds indicia of ownership:

                 (27)(b)(i)(A) primarily to protect the person's security interest in the facility; or

                 (27)(b)(i)(B) as a fiduciary or custodian under Title 75, Utah Uniform Probate Code, or under an employee benefit plan; or
            (27)(b)(ii) governmental ownership or control of property by involuntary transfers as provided in CERCLA Section 101(20)(D), Utah Code 19-6-402
• Rests directly on the ground: means that at least some portion of a petroleum storage tank situated aboveground is in direct contact with soil. See Utah Code 19-6-402
• Scored site: means a facility in Utah that meets the requirements of scoring established by the National Contingency Plan for placement on the National Priority List. See Utah Code 19-6-302
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State: means , unless the context demands otherwise:
       (33)(a) a state;
       (33)(b) the District of Columbia; or
       (33)(c) the territories of the United States. See Utah Code 7-1-103
• State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
• State agency: means :
            (10)(a)(i) the state; or
            (10)(a)(ii) an office, department, division or other agency or instrumentality of the state. See Utah Code 9-7-101
• State fund: means the Utah Arts and Museums Endowment Fund created in Section 9-6-502. See Utah Code 9-6-501
• State institution of higher education: means an institution described in Section 53B-2-101 or any other university or college that is established and maintained by the state. See Utah Code 9-7-101
• Statute: A law passed by a legislature.
• Subsidiary: means a business entity under the control of an institution. See Utah Code 7-1-103
• Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• Underground piping: means piping that is buried in the ground that is in direct contact with soil and connected to an aboveground petroleum storage tank. See Utah Code 19-6-402
• Underground storage tank: means a tank regulated under Subtitle I, Resource Conservation and Recovery Act, Utah Code 19-6-402
• Underground storage tank installation company: means a person, firm, partnership, corporation, governmental entity, association, or other organization that installs underground storage tanks. See Utah Code 19-6-402
• Underground storage tank installation company permit: means a permit issued to an underground storage tank installation company by the director. See Utah Code 19-6-402
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Utah Code: means the 1953 recodification of the Utah Code, as amended, unless the text expressly references a portion of the 1953 recodification of the Utah Code as it existed:
       (42)(a) on the day on which the 1953 recodification of the Utah Code was enacted; or
       (42)(b)

            (42)(b)(i) after the day described in Subsection (42)(a); and

            (42)(b)(ii) before the most recent amendment to the referenced portion of the 1953 recodification of the Utah Code. See Utah Code 68-3-12.5
• Utah depository institution: means a depository institution whose home state is Utah. See Utah Code 7-1-103
• Venue: The geographical location in which a case is tried.
• Writing: includes :
       (48)(a) printing;
       (48)(b) handwriting; and
       (48)(c) information stored in an electronic or other medium if the information is retrievable in a perceivable format. See Utah Code 68-3-12.5