Utah Code 22-5-2. Definitions
Current as of: 2024 | Check for updates
|
Other versions
In this chapter, unless the context otherwise requires:
(1) “Assignment” includes any written stock power, bond power, bill of sale, deed, declaration of trust or other instrument of transfer.
Terms Used In Utah Code 22-5-2
- Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
- 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
- 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.
- Corporation: means a private or public corporation, association or trust issuing a security. See Utah Code 22-5-2
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian or nominee. See Utah Code 22-5-2
- Legatee: A beneficiary of a decedent
- 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: includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two or more persons having a joint or common interest, or any other legal or commercial entity. See Utah Code 22-5-2
- Security: includes any share of stock, bond, debenture, note or other security issued by a corporation which is registered as to ownership on the books of the corporation. See Utah Code 22-5-2
- Transfer: means a change on the books of a corporation in the registered ownership of a security. See Utah Code 22-5-2
- Trustee: A person or institution holding and administering property in trust.
(2) “Claim of beneficial interest” includes a claim of any interest by a decedent‘s legatee, distributee, heir or creditor, a beneficiary under a trust, a ward, a beneficial owner of a security registered in the name of a nominee, or a minor owner of a security registered in the name of a custodian, or a claim of any similar interest, whether the claim is asserted by the claimant or by a fiduciary or by any other authorized person in his behalf, and includes a claim that the transfer would be in breach of fiduciary duties.
(3) “Corporation” means a private or public corporation, association or trust issuing a security.
(4) “Fiduciary” means an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian or nominee.
(5) “Person” includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two or more persons having a joint or common interest, or any other legal or commercial entity.
(6) “Security” includes any share of stock, bond, debenture, note or other security issued by a corporation which is registered as to ownership on the books of the corporation.
(7) “Transfer” means a change on the books of a corporation in the registered ownership of a security.
(8) “Transfer agent” means a person employed or authorized by a corporation to transfer securities issued by the corporation.