Utah Code 38-5-2. Judicial lien against water rights and related assets of a mutual benefit corporation
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(1) As used in this section:
Terms Used In Utah Code 38-5-2
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Lien: A claim against real or personal property in satisfaction of a debt.
(1)(a) “Judicial lien” is defined in Section 16-6a-119.
(1)(b) “Mutual benefit corporation” is defined in Section 16-6a-102.
(1)(c) “Water rights and related assets” is defined in Section 16-6a-119.
(2) A judicial lien recorded on or after May 12, 2009 against the water rights and related assets of a mutual benefit corporation is subject to Section 16-6a-119.