Utah Code 75B-1-201. Definitions for part
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As used in this part:
(1) “Income” means the same as that term is defined in Section 75A-5-101 .
Terms Used In Utah Code 75B-1-201
- 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
- Income: means the same as that term is defined in Section
75A-5-101 . See Utah Code 75B-1-201 - Principal: means the same as that term is defined in Section
75A-5-101 . See Utah Code 75B-1-201
(2) “Principal” means the same as that term is defined in Section 75A-5-101 .
(3) “Retirement trust” means a trust:
(3)(a) created by an employer as part of a pension, stock bonus, disability, death benefit, profit sharing, retirement, or similar plan primarily for the benefit of an employee or the employee’s family, appointee, or beneficiary;
(3)(b) to which contributions are made by the employer or employee; and
(3)(c) that is created for the purpose of distributing principal or income to the employee or the employee’s family, appointee, or beneficiary.