Terms Used In Utah Code > Title 70A > Chapter 5 - Uniform Commercial Code - Letters of Credit

• 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
• Adviser: means a person who, at the request of the issuer, a confirmer, or another adviser, notifies or requests another adviser to notify the beneficiary that a letter of credit has been issued, confirmed, or amended. See Utah Code 70A-5-102
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Alcoholic product: includes an alcoholic beverage. See Utah Code 32B-1-102
• Applicant: means a person at whose request or for whose account a letter of credit is issued. See Utah Code 70A-5-102
• Beer: means a product that:
            (11)(a)(i) contains:

                 (11)(a)(i)(A) at least . See Utah Code 32B-1-102
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Beneficiary: means a person who under the terms of a letter of credit is entitled to have its complying presentation honored. See Utah Code 70A-5-102
• Commission: means the Alcoholic Beverage Services Commission created in Section 32B-2-201. See Utah Code 32B-1-102
• Community location: means :
       (23)(a) a public or private school as defined in Subsection 32B-1-102(115);
       (23)(b) a church;
       (23)(c) a public library;
       (23)(d) a public playground; or
       (23)(e) a public park. See Utah Code 32B-1-102
• Confirmer: means a nominated person who undertakes, at the request or with the consent of the issuer, to honor a presentation under a letter of credit issued by another. See Utah Code 70A-5-102
• Consumer purchasing system: means the consumer purchasing system established in Section 32B-2-802. See Utah Code 32B-2-801
• Container: means a receptacle that contains an alcoholic product, including:
       (25)(a) a bottle;
       (25)(b) a vessel; or
       (25)(c) a similar item. See Utah Code 32B-1-102
• Department: means the Department of Alcoholic Beverage Services created in Section 32B-2-203. See Utah Code 32B-1-102
• Department compliance officer: means an individual who is:
       (31)(a) an auditor or inspector; and
       (31)(b) employed by the department. See Utah Code 32B-1-102
• Disciplinary proceeding: means an adjudicative proceeding permitted under this title:
       (35)(a) against a person subject to administrative action; and
       (35)(b) that is brought on the basis of a violation of this title. See Utah Code 32B-1-102
• Division: means the Division of Consumer Purchasing created in Section 32B-2-212. See Utah Code 32B-2-801
• Division: means the Division of Consumer Purchasing created in Section 32B-2-212. See Utah Code 32B-2-701
• Document: means a draft or other demand, document of title, investment security, certificate, invoice, or other record, statement, or representation of fact, law, right, or opinion:
       (6)(a) which is presented in a written or other medium permitted by the letter of credit or, unless prohibited by the letter of credit, by the standard practice referred to in Subsection 70A-5-108(5); and
       (6)(b) which is capable of being examined for compliance with the terms and conditions of the letter of credit. See Utah Code 70A-5-102
• 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.
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Furnish: includes to:
            (47)(b)(i) serve;
            (47)(b)(ii) deliver; or
            (47)(b)(iii) otherwise make available. See Utah Code 32B-1-102
• Good faith: means honesty in fact in the conduct or transaction concerned. See Utah Code 70A-5-102
• Guest: means an individual who meets the requirements of Subsection 32B-6-407(9). See Utah Code 32B-1-102
• Hotel: includes a commercial lodging establishment that:
            (53)(b)(i) meets the requirements under Subsection (53)(a); and
            (53)(b)(ii) has one or more privately owned dwelling units. See Utah Code 32B-1-102
• Interdicted person: means a person to whom the sale, offer for sale, or furnishing of an alcoholic product is prohibited by:
       (58)(a) law; or
       (58)(b) court order. See Utah Code 32B-1-102
• Issuer: means a bank or other person that issues a letter of credit, but does not include an individual who makes an engagement for personal, family, or household purposes. See Utah Code 70A-5-102
• Letter of credit: means a definite undertaking that satisfies the requirements of Section 70A-5-104 by an issuer to a beneficiary at the request or for the account of an applicant or, in the case of a financial institution, to itself or for its own account, to honor a documentary presentation by payment or delivery of an item of value. See Utah Code 70A-5-102
• License: means :
       (62)(a) a retail license;
       (62)(b) a sublicense;
       (62)(c) a license issued in accordance with Chapter 7, Part 4, Off-premise Beer Retailer State License;
       (62)(d) a license issued in accordance with Chapter 11, Manufacturing and Related Licenses Act;
       (62)(e) a license issued in accordance with Chapter 12, Liquor Warehousing License Act;
       (62)(f) a license issued in accordance with Chapter 13, Beer Wholesaling License Act; or
       (62)(g) a license issued in accordance with Chapter 17, Liquor Transport License Act. See Utah Code 32B-1-102
• Licensee: means a person who holds a license. See Utah Code 32B-1-102
• Liquor: includes :
                 (66)(a)(ii)(A) heavy beer;
                 (66)(a)(ii)(B) wine; and
                 (66)(a)(ii)(C) a flavored malt beverage. See Utah Code 32B-1-102
• Local authority: means :
       (70)(a) for premises that are located in an unincorporated area of a county, the governing body of a county;
       (70)(b) for premises that are located in an incorporated city or town, the governing body of the city or town; or
       (70)(c) for premises that are located in a project area as defined in Section 63H-1-102 and in a project area plan adopted by the Military Installation Development Authority under Title 63H, Chapter 1, Military Installation Development Authority Act, the Military Installation Development Authority. See Utah Code 32B-1-102
• Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
• Minibar: means an area of a hotel guest room where one or more alcoholic products are kept and offered for self-service sale or consumption. See Utah Code 32B-1-102
• Minor: means an individual under 21 years old. See Utah Code 32B-1-102
• Nominated person: means a person whom the issuer:
       (11)(a) designates or authorizes to pay, accept, negotiate, or otherwise give value under a letter of credit; and
       (11)(b) undertakes by agreement or custom and practice to reimburse. See Utah Code 70A-5-102
• Nondepartment enforcement agency: means an agency that:
       (78)(a)

            (78)(a)(i) is a state agency other than the department; or

            (78)(a)(ii) is an agency of a county, city, or town; and
       (78)(b) has a responsibility to enforce one or more provisions of this title. See Utah Code 32B-1-102
• offer for sale: means a transaction, exchange, or barter whereby, for consideration, an alcoholic product is either directly or indirectly transferred, solicited, ordered, delivered for value, or by a means or under a pretext is promised or obtained, whether done by a person as a principal, proprietor, or as staff, unless otherwise defined in this title or the rules made by the commission. See Utah Code 32B-1-102
• Package agency: means a retail liquor location operated:
       (85)(a) under an agreement with the department; and
       (85)(b) by a person:

            (85)(b)(i) other than the state; and

            (85)(b)(ii) who is authorized by the commission in accordance with Chapter 2, Part 6, Package Agency, to sell packaged liquor for consumption off the premises of the package agency. See Utah Code 32B-1-102
• Package agent: means a person who holds a package agency. See Utah Code 32B-1-102
• Patron: means an individual to whom food, beverages, or services are sold, offered for sale, or furnished, or who consumes an alcoholic product including:
       (87)(a) a customer;
       (87)(b) a member;
       (87)(c) a guest;
       (87)(d) an attendee of a banquet or event;
       (87)(e) an individual who receives room service;
       (87)(f) a resident of a resort; or
       (87)(g) a hospitality guest, as defined in Section 32B-6-1002, under a hospitality amenity license. See Utah Code 32B-1-102
• Permittee: means a person issued a permit under:
       (89)(a) Chapter 9, Event Permit Act; or
       (89)(b) Chapter 10, Special Use Permit Act. See Utah Code 32B-1-102
• Person subject to administrative action: means :
       (90)(a) a licensee;
       (90)(b) a permittee;
       (90)(c) a manufacturer;
       (90)(d) a supplier;
       (90)(e) an importer;
       (90)(f) one of the following holding a certificate of approval:

            (90)(f)(i) an out-of-state brewer;

            (90)(f)(ii) an out-of-state importer of beer, heavy beer, or flavored malt beverages; or

            (90)(f)(iii) an out-of-state supplier of beer, heavy beer, or flavored malt beverages; or
       (90)(g) staff of:

            (90)(g)(i) a person listed in Subsections (90)(a) through (f); or

            (90)(g)(ii) a package agent. See Utah Code 32B-1-102
• Premises: means a building, enclosure, or room used in connection with the storage, sale, furnishing, consumption, manufacture, or distribution, of an alcoholic product, unless otherwise defined in this title or rules made by the commission. See Utah Code 32B-1-102
• Presentation: means delivery of a document to an issuer or nominated person for honor or giving of value under a letter of credit. See Utah Code 70A-5-102
• Presenter: means a person making a presentation as or on behalf of a beneficiary or nominated person. See Utah Code 70A-5-102
• Proof of age: means :
            (97)(a)(i) an identification card;
            (97)(a)(ii) an identification that:

                 (97)(a)(ii)(A) is substantially similar to an identification card;

                 (97)(a)(ii)(B) is issued in accordance with the laws of a state other than Utah in which the identification is issued;

                 (97)(a)(ii)(C) includes date of birth; and

                 (97)(a)(ii)(D) has a picture affixed;
            (97)(a)(iii) a valid driver license certificate that:

                 (97)(a)(iii)(A) includes date of birth;

                 (97)(a)(iii)(B) has a picture affixed; and

                 (97)(a)(iii)(C) is issuedunder Title 53, Chapter 3, Uniform Driver License Act, in accordance with the laws of the state in which it is issued, orin accordance with federal law by the United States Department of State;
            (97)(a)(iv) a military identification card that:

                 (97)(a)(iv)(A) includes date of birth; and

                 (97)(a)(iv)(B) has a picture affixed; or
            (97)(a)(v) a valid passport. See Utah Code 32B-1-102
• Record: includes :
            (103)(b)(i) a book;
            (103)(b)(ii) a book of account;
            (103)(b)(iii) a paper;
            (103)(b)(iv) a contract;
            (103)(b)(v) an agreement;
            (103)(b)(vi) a document; or
            (103)(b)(vii) a recording in any medium. See Utah Code 32B-1-102
• Record: means information that is inscribed on a tangible medium, or that is stored in an electronic or other medium and is retrievable in perceivable form. See Utah Code 70A-5-102
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Resort: means the same as that term is defined in Section 32B-8-102. See Utah Code 32B-1-102
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Room service: means furnishing an alcoholic product to a person in a guest room or privately owned dwelling unit of a:
       (114)(a) hotel; or
       (114)(b) resort facility. See Utah Code 32B-1-102
• Serve: means to place an alcoholic product before an individual. See Utah Code 32B-1-102
• Spirituous liquor: includes an alcoholic product defined as a "distilled spirit" by Utah Code 32B-1-102
• Staff: includes :
            (128)(b)(i) an officer;
            (128)(b)(ii) a director;
            (128)(b)(iii) an employee;
            (128)(b)(iv) personnel management;
            (128)(b)(v) an agent of the licensee, including a managing agent;
            (128)(b)(vi) an operator; or
            (128)(b)(vii) a representative. See Utah Code 32B-1-102
• State store: means a facility for the sale of packaged liquor:
            (131)(a)(i) located on premises owned or leased by the state; and
            (131)(a)(ii) operated by a state employee. See Utah Code 32B-1-102
• Store: means to place or maintain in a location an alcoholic product. See Utah Code 32B-1-102
• Subscriber: means an individual who subscribes to a wine subscription as described in Subsection 32B-2-702(2). See Utah Code 32B-2-701
• Subscription program: means the wine subscription program established in Section 32B-2-702. See Utah Code 32B-2-701
• Successor of a beneficiary: means a person who succeeds to substantially all of the rights of a beneficiary by operation of law, including a corporation with or into which the beneficiary has been merged or consolidated, an administrator, executor, personal representative, trustee in bankruptcy, debtor in possession, liquidator, and receiver. See Utah Code 70A-5-102
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Wine: includes :
            (140)(b)(i) an alcoholic beverage defined as wine under Utah Code 32B-1-102
• Wine subscription: means an arrangement in which a customer pays a recurring price at regular intervals for a product that involves the shipment or transportation of wine. See Utah Code 32B-2-701
• Wine subscription business: means a person that:
       (5)(a) sells or offers for sale a wine subscription; and
       (5)(b) contracts with the department to participate in the subscription program. See Utah Code 32B-2-701