Except as specifically modified in its authorizing statute, each independent corporation may not participate in the:

(1) issuance of bonds that are the obligation of the state; or

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Terms Used In Utah Code 63E-2-107

  • 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.
  • 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.
  • 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.
(2) services provided to state agencies, including:

     (2)(a) fuel dispensing;
     (2)(b) motor pool services;
     (2)(c) surplus property services;
     (2)(d) information technology services; or
     (2)(e) archive services.