Terms Used In Utah Code > Title 53G > Chapter 5 > Part 4 - Powers and Duties

• Asset: means property of all kinds, real and personal, tangible and intangible, and includes:
       (1)(a) cash;
       (1)(b) stock or other investments;
       (1)(c) real property;
       (1)(d) equipment and supplies;
       (1)(e) an ownership interest;
       (1)(f) a license;
       (1)(g) a cause of action; and
       (1)(h) any similar property. See Utah Code 53G-5-102
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• authorizer: means an entity listed in Section 53G-5-205 that authorizes a charter school. See Utah Code 53G-5-102
• Bequest: Property gifted by will.
• 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.
• Devise: To gift property by will.
• Donor: The person who makes a gift.
• Father: means a parent who is of the male sex. See Utah Code 68-3-12.5
• Female: means the characteristic of an individual whose biological reproductive system is of the general type that functions in a way that could produce ova. See Utah Code 68-3-12.5
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantor: The person who establishes a trust and places property into it.
• 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
• Mother: means a parent who is of the female sex. See Utah Code 68-3-12.5
• 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
• 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
• 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.
• 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