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Terms Used In Utah Code 7-1-505

  • Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
  • Department: means the Department of Financial Institutions. See Utah Code 7-1-103
  • Institution: means :
         (19)(a) a corporation;
         (19)(b) a limited liability company;
         (19)(c) a partnership;
         (19)(d) a trust;
         (19)(e) an association;
         (19)(f) a joint venture;
         (19)(g) a pool;
         (19)(h) a syndicate;
         (19)(i) an unincorporated organization; or
         (19)(j) any form of business entity. See Utah Code 7-1-103
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Person: means :
         (27)(a) an individual;
         (27)(b) a corporation;
         (27)(c) a limited liability company;
         (27)(d) a partnership;
         (27)(e) a trust;
         (27)(f) an association;
         (27)(g) a joint venture;
         (27)(h) a pool;
         (27)(i) a syndicate;
         (27)(j) a sole proprietorship;
         (27)(k) an unincorporated organization; or
         (27)(l) any form of business entity. See Utah Code 7-1-103

     With respect to any person or institution or class of institutions subject to the jurisdiction of the department under this part and not regulated or supervised under any other chapter of this title, the commissioner shall issue appropriate rules and regulations consistent with the purposes and provisions of this title governing the regulation, supervision, and examination of those persons, institutions, or classes of institutions.