Utah Code 63N-4-402. Definitions
Current as of: 2024 | Check for updates
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As used in this part:
(1)
Terms Used In Utah Code 63N-4-402
- 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.
- Grant: means a grant awarded as part of the Rural Employment Expansion Grant Program created in Section 63N-4-403. See Utah Code 63N-4-402
- Grant program: means the Rural Employment Expansion Grant Program created in Section 63N-4-403. See Utah Code 63N-4-402
- Mining company: means an entity whose primary business is the exploration for or extraction of minerals from the earth. See Utah Code 63N-4-402
- 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(1)(a) “Business entity” means a sole proprietorship, partnership, association, joint venture, corporation, firm, trust, foundation, or other organization or entity used in carrying on a business.(1)(b) “Business entity” does not include a business primarily engaged in the following:(1)(b)(i) construction;(1)(b)(ii) staffing;(1)(b)(iii) retail trade; or(1)(b)(iv) public utility activities.
(2) “Grant” means a grant awarded as part of the Rural Employment Expansion Grant Program created in Section 63N-4-403.
(3) “Grant program” means the Rural Employment Expansion Grant Program created in Section 63N-4-403.
(4) “Mining company” means an entity whose primary business is the exploration for or extraction of minerals from the earth.
(5) “Mining services company” means an entity whose primary business is providing support services for a mining company, including drilling or geological modeling.
(6)
(6)(a) “Owner or officer” means an individual who owns an ownership interest in an entity or holds a position where the person has authority to manage, direct, control, or make decisions for:
(6)(a)(i) the entity or a portion of the entity; or
(6)(a)(ii) an employee, agent, or independent contractor of the entity.
(6)(b) “Owner or officer” includes:
(6)(b)(i) a member of a board of directors or other governing body of an entity; or
(6)(b)(ii) a partner in any type of partnership.
(7) “Rural county” means a county of the third, fourth, fifth, or sixth class.