Terms Used In Utah Code > Title 7 > Chapter 1 > Part 10 - Financial Information Privacy

• Account holder: means a person for whom an account is held by a financial institution. See Utah Code 7-1-1001
• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
• 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
• 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
• 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
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiduciary: A trustee, executor, or administrator.
• Financial institution: means an institution subject to the jurisdiction of the department because of this title. See Utah Code 7-1-103
• Fraud: Intentional deception resulting in injury to another.
• Governmental entity: means :
            (1)(b)(i) the state, including:

                 (1)(b)(i)(A) a department;

                 (1)(b)(i)(B) an institution;

                 (1)(b)(i)(C) a board;

                 (1)(b)(i)(D) a division;

                 (1)(b)(i)(E) a bureau;

                 (1)(b)(i)(F) an office;

                 (1)(b)(i)(G) a commission;

                 (1)(b)(i)(H) a committee; or

                 (1)(b)(i)(I) an elected official; and
            (1)(b)(ii) a political subdivision of the state, including:

                 (1)(b)(ii)(A) a county;

                 (1)(b)(ii)(B) a city;

                 (1)(b)(ii)(C) a town;

                 (1)(b)(ii)(D) a school district;

                 (1)(b)(ii)(E) a public transit district;

                 (1)(b)(ii)(F) a redevelopment agency;

                 (1)(b)(ii)(G) a special improvement district; or

                 (1)(b)(ii)(H) a taxing district. See Utah Code 7-1-1001
• 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
• 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.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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
• Nonprotected record: means a record maintained by a financial institution to facilitate the conduct of the financial institution's business regarding a person or account, including:
            (1)(c)(i) the existence of an account;
            (1)(c)(ii) the opening and closing dates of an account;
            (1)(c)(iii) the name under which an account is held; and
            (1)(c)(iv) the name, address, and telephone number of an account holder. See Utah Code 7-1-1001
• 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.
• 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
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• Protected record: means a record that is not defined as a nonprotected record. See Utah Code 7-1-1001
• Record: means information that is:
            (1)(e)(i) prepared, owned, received, or retained by a financial institution;
            (1)(e)(ii)

                 (1)(e)(ii)(A) inscribed on a tangible medium; or

                 (1)(e)(ii)(B) stored in an electronic or other medium; and
            (1)(e)(iii) retrievable in perceivable form. See Utah Code 7-1-1001
• 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
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• 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