Terms Used In Utah Code > Title 16 > Chapter 10a > Part 12 - Sale of Property

• 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
• 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.
• Articles of incorporation: include :
       (4)(a) amended and restated articles of incorporation;
       (4)(b) articles of merger; and
       (4)(c) a document of a similar import to those described in Subsections (4)(a) and (b). See Utah Code 16-10a-102
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Business entity: means a claimant that is a:
       (1)(a) C corporation;
       (1)(b) S corporation;
       (1)(c) general partnership;
       (1)(d) limited liability company;
       (1)(e) limited liability partnership;
       (1)(f) limited partnership; or
       (1)(g) business entity similar to Subsections (1)(c) through (f):

            (1)(g)(i) with respect to which the business entity's income or losses are divided among and passed through to taxpayers; and

            (1)(g)(ii) as defined by the commission by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. See Utah Code 59-6-101
• Bylaws: includes amended bylaws and restated bylaws. See Utah Code 16-10a-102
• Child support: is a s defined in Section 26B-9-301. See Utah Code 26B-9-501
• claimant: means a resident or nonresident person. See Utah Code 59-6-101
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Delinquent on a child support obligation: means that a person:
       (2)(a)

            (2)(a)(i) made no payment for 60 days on a current child support obligation as set forth in an administrative or court order;

            (2)(a)(ii) after the 60-day period described in Subsection (2)(a)(i), failed to make a good faith effort under the circumstances to make payment on the child support obligation in accordance with the order; and

            (2)(a)(iii) has not obtained a judicial order staying enforcement of the person's child support obligation, or the amount in arrears; or
       (2)(b)

            (2)(b)(i) made no payment for 60 days on an arrearage obligation of child support as set forth in:

                 (2)(b)(i)(A) a payment schedule;

                 (2)(b)(i)(B) a written agreement with the office; or

                 (2)(b)(i)(C) an administrative or judicial order;

            (2)(b)(ii) after the 60-day period described in Subsection (2)(b)(i), failed to make a good faith effort under the circumstances to make payment on the child support obligation in accordance with the payment schedule, agreement, or order; and

            (2)(b)(iii) has not obtained a judicial order staying enforcement of the person's child support obligation, or the amount in arrears. See Utah Code 26B-9-501
• Dependent: A person dependent for support upon another.
• Distribution: means the following by a corporation to or for the benefit of its shareholders in respect of any of the corporation's shares:
            (13)(a)(i) a direct or indirect transfer of money or other property, other than a corporation's own shares; or
            (13)(a)(ii) incurrence of indebtedness by the corporation. See Utah Code 16-10a-102
• Docket: A log containing brief entries of court proceedings.
• Driver license: means a license, as defined in Section 53-3-102. See Utah Code 26B-9-501
• Driver License Division: means the Driver License Division of the Department of Public Safety created in Section 53-3-103. See Utah Code 26B-9-501
• Entity: includes :
       (19)(a) a domestic and foreign corporation;
       (19)(b) a nonprofit corporation;
       (19)(c) a limited liability company;
       (19)(d) a profit or nonprofit unincorporated association;
       (19)(e) a business trust;
       (19)(f) an estate;
       (19)(g) a partnership;
       (19)(h) a trust;
       (19)(i) two or more persons having a joint or common economic interest;
       (19)(j) a state;
       (19)(k) the United States; and
       (19)(l) a foreign government. See Utah Code 16-10a-102
• Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
• Estate: means a nonresident estate or a resident estate. See Utah Code 59-6-101
• 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.
• 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.
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• 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
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Minerals: means :
       (4)(a) metalliferous minerals as defined in Section 59-2-102;
       (4)(b) nonmetalliferous minerals as defined in Section 59-2-102; or
       (4)(c) a combination of Subsections (4)(a) and (b). See Utah Code 59-6-101
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Notice: is a s provided in Section 16-10a-103. See Utah Code 16-10a-102
• 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.
• Office: means the Office of Recovery Services. See Utah Code 26B-9-501
• 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 :
       (24)(a) an individual;
       (24)(b) an association;
       (24)(c) an institution;
       (24)(d) a corporation;
       (24)(e) a company;
       (24)(f) a trust;
       (24)(g) a limited liability company;
       (24)(h) a partnership;
       (24)(i) a political subdivision;
       (24)(j) a government office, department, division, bureau, or other body of government; and
       (24)(k) any other organization or entity. See Utah Code 68-3-12.5
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Producer: means a person that:
       (5)(a) produces or extracts minerals from deposits in this state; or
       (5)(b) is the first purchaser of minerals produced or extracted from deposits in this state. See Utah Code 59-6-101
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• 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}
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Service of process: The service of writs or summonses to the appropriate party.
• Shareholder: means :
            (34)(a)(i) the person in whose name a share is registered in the records of a corporation; or
            (34)(a)(ii) the beneficial owner of a share to the extent recognized pursuant to Section 16-10a-723. See Utah Code 16-10a-102
• 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
• Statute: A law passed by a legislature.
• tax credit: means a tax credit that a claimant, estate, or trust may claim:
       (6)(a) as provided by statute; and
       (6)(b) regardless of whether the claimant, estate, or trust has a tax liability:

            (6)(b)(i) for a tax imposed under:

                 (6)(b)(i)(A) Chapter 7, Corporate Franchise and Income Taxes;

                 (6)(b)(i)(B) Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act; or

                 (6)(b)(i)(C) Chapter 10, Individual Income Tax Act; and

            (6)(b)(ii) for the taxable year for which the claimant, estate, or trust claims the tax credit. See Utah Code 59-6-101
• Tax equivalent payment: means a payment required or authorized by statute to be made in lieu of ad valorem taxes on tax exempt property pursuant to a contract entered into under statutory authority and filed with the county assessor of the county in which the property is located. See Utah Code 59-3-102
• Tax equivalent property: means property on which any tax equivalent payment is made. See Utah Code 59-3-102
• Tax return: means a return required by:
       (8)(a) Chapter 7, Corporate Franchise and Income Taxes;
       (8)(b) Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act; or
       (8)(c) Chapter 10, Individual Income Tax Act. See Utah Code 59-6-101
• Taxable year: means the taxable year of a claimant, estate, or trust under:
       (7)(a) Chapter 7, Corporate Franchise and Income Taxes;
       (7)(b) Chapter 8, Gross Receipts Tax on Certain Corporations Not Required to Pay Corporate Franchise or Income Tax Act; or
       (7)(c) Chapter 10, Individual Income Tax Act. See Utah Code 59-6-101
• Trust: means a nonresident trust or a resident trust. See Utah Code 59-6-101
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Voting group: means all shares of one or more classes or series that under the articles of incorporation or this chapter are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Utah Code 16-10a-102
• Withholding return: means a return a producer is required to file under this chapter. See Utah Code 59-6-101
• 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