(1) A water right may be deposited with a water bank pursuant to an approved change application filed under Section 73-3-3 or 73-3-3.5.

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Terms Used In Utah Code 73-31-501

  • Application: means an application submitted to the board to approve a water bank. See Utah Code 73-31-102
  • Banked water right: means a water right, or a portion of a water right, deposited in a water bank that the state engineer has authorized for use in a water bank through an approved change application. See Utah Code 73-31-102
  • Depositor: means a person seeking to deposit a water right in a water bank. See Utah Code 73-31-102
  • Heretofore use: means the authorized conditions of use that were in effect before the state engineer approved a change application authorizing new conditions for the use of a banked water right. See Utah Code 73-31-102
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Loaned water rights: means a banked water right that is used pursuant to an approved delivery request. See Utah Code 73-31-102
  • Process: means a writ or summons issued in the course of a judicial proceeding. 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
  • State engineer: means the state engineer appointed under Section 73-2-1. See Utah Code 73-31-102
  • Water bank: means a contract water bank or a statutory water bank. See Utah Code 73-31-102
(2) The state engineer may not approve a change application that authorizes the use of a water right within a water bank for any period of time that exceeds December 31, 2030.
(3) A banked water right is excused from beneficial use requirements pursuant to Subsection 73-1-4(2)(e)(xi).
(4) A depositor of a banked water right may use the banked water right in its heretofore use if:

     (4)(a) the depositor does so under the authority, control, and accounting of the water bank;
     (4)(b) the water bank informs the state engineer that the depositor’s heretofore use is consistent with the water bank’s operating procedures for loaned water rights; and
     (4)(c) during the time the depositor uses the banked water right in its heretofore use, the water bank does not allow the banked water right to be used for other uses within the water bank.
(5) If an entity authorized to condemn a water right leases a water right under this chapter, the entity may not begin the process of condemning the water right:

     (5)(a) while the entity leases the water right under this chapter; or
     (5)(b) within five years after the day on which the entity’s lease of the water right under this chapter ends.