Terms Used In Utah Code > Title 11 > Chapter 59 > Part 6 - Authority Bonds

• Address: includes :
            (1)(b)(i) a post office box number;
            (1)(b)(ii) a rural free delivery route number; and
            (1)(b)(iii) a street name and number. See Utah Code 16-10a-102
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Articles of incorporation: include :
       (4)(a) amended and restated articles of incorporation;
       (4)(b) articles of merger; and
       (4)(c) a document of a similar import to those described in Subsections (4)(a) and (b). See Utah Code 16-10a-102
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means the Point of the Mountain State Land Authority, created in Section 11-59-201. See Utah Code 11-59-102
• Authorized shares: means the shares of all classes a domestic or foreign corporation is authorized to issue. See Utah Code 16-10a-102
• 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}
• Board: means the authority's board, created in Section 11-59-301. See Utah Code 11-59-102
• Bylaws: includes amended bylaws and restated bylaws. See Utah Code 16-10a-102
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Corporate name: means :
       (10)(a) the name of a domestic corporation or a domestic nonprofit corporation as stated in its articles of incorporation; or
       (10)(b) the name of a foreign corporation or a foreign nonprofit corporation as stated in its articles of incorporation or document of similar import. See Utah Code 16-10a-102
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Deliver: includes delivery by mail or another means of transmission authorized by Section 16-10a-103, except that delivery to the division means actual receipt by the division. See Utah Code 16-10a-102
• Distribution: means the following by a corporation to or for the benefit of its shareholders in respect of any of the corporation's shares:
            (13)(a)(i) a direct or indirect transfer of money or other property, other than a corporation's own shares; or
            (13)(a)(ii) incurrence of indebtedness by the corporation. See Utah Code 16-10a-102
• Division: means the Division of Corporations and Commercial Code. See Utah Code 16-10a-102
• domestic corporation: means a corporation for profit that:
       (11)(a) is not a foreign corporation; and
       (11)(b) is incorporated under or subject to this chapter. See Utah Code 16-10a-102
• electronically transmitted: means a process of communication not directly involving the physical transfer of paper that is suitable for the receipt, retention, retrieval, and reproduction of information by the recipient, whether by e-mail, facsimile, or otherwise. See Utah Code 16-10a-102
• Employee: includes an officer but not a director, unless the director accepts a duty that makes that director also an employee. See Utah Code 16-10a-102
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Entity: includes :
       (19)(a) a domestic and foreign corporation;
       (19)(b) a nonprofit corporation;
       (19)(c) a limited liability company;
       (19)(d) a profit or nonprofit unincorporated association;
       (19)(e) a business trust;
       (19)(f) an estate;
       (19)(g) a partnership;
       (19)(h) a trust;
       (19)(i) two or more persons having a joint or common economic interest;
       (19)(j) a state;
       (19)(k) the United States; and
       (19)(l) a foreign government. See Utah Code 16-10a-102
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiduciary: A trustee, executor, or administrator.
• Foreign corporation: means a corporation for profit incorporated under a law other than the law of this state. See Utah Code 16-10a-102
• Governmental subdivision: means :
       (21)(a) county;
       (21)(b) municipality; or
       (21)(c) another type of governmental subdivision authorized by the laws of this state. See Utah Code 16-10a-102
• Individual: means :
       (22)(a) a natural person;
       (22)(b) the estate of an incompetent individual; or
       (22)(c) the estate of a deceased individual. See Utah Code 16-10a-102
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• 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.
• 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}
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Notice: is a s provided in Section 16-10a-103. See Utah Code 16-10a-102
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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
• Personal property: All property that is not real property.
• Personal property: includes :
       (25)(a) money;
       (25)(b) goods;
       (25)(c) chattels;
       (25)(d) effects;
       (25)(e) evidences of a right in action;
       (25)(f) a written instrument by which a pecuniary obligation, right, or title to property is created, acknowledged, transferred, increased, defeated, discharged, or diminished; and
       (25)(g) a right or interest in an item described in Subsections (25)(a) through (f). See Utah Code 68-3-12.5
• Point of the mountain state land: means :
       (6)(a) the approximately 700 acres of state-owned land in Draper, including land used for the operation of a state correctional facility until completion of the new correctional facility and state-owned land in the vicinity of the current state correctional facility; and
       (6)(b) any land, in addition to the land described in Subsection (6)(a), that:

            (6)(b)(i) the state acquires; and

            (6)(b)(ii) is contiguous to the land described in Subsection (6)(a). See Utah Code 11-59-102
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Principal office: means the office, in or out of this state, designated by a domestic or foreign corporation as its principal office in the most recent document on file with the division providing the information, including:
       (25)(a) an annual report;
       (25)(b) an application for a certificate of authority; or
       (25)(c) a notice of change of principal office. See Utah Code 16-10a-102
• Proceeding: includes :
       (26)(a) a civil suit;
       (26)(b) arbitration or mediation; and
       (26)(c) a criminal, administrative, or investigatory action. See Utah Code 16-10a-102
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• Public entity: means :
       (7)(a) the state, including each department, division, or other agency of the state; or
       (7)(b) a county, city, town, school district, special district, special service district, interlocal cooperation entity, community reinvestment agency, or other political subdivision of the state, including the authority. See Utah Code 11-59-102
• Receive: when used in reference to receipt of a writing or other document by a domestic or foreign corporation, means the writing or other document is actually received by:
       (28)(a) the corporation at its:

            (28)(a)(i) registered office in this state; or

            (28)(a)(ii) principal office;
       (28)(b) the secretary of the corporation, wherever the secretary is found; or
       (28)(c) another person authorized by the bylaws or the board of directors to receive the writing or other document, wherever that person is found. See Utah Code 16-10a-102
• Record date: means the date established under Part 6, Shares and Distributions, or Part 7, Shareholders, on which a corporation determines the identity of its shareholders. See Utah Code 16-10a-102
• Registered office: means the office within this state designated by a domestic or foreign corporation as its registered office in the most recent document on file with the division providing that information, including:
       (30)(a) articles of incorporation;
       (30)(b) an application for a certificate of authority; or
       (30)(c) a notice of change of registered office. See Utah Code 16-10a-102
• Secretary: means the corporate officer to whom the bylaws or the board of directors delegates responsibility under Subsection 16-10a-830(3) for:
       (32)(a) the preparation and maintenance of:

            (32)(a)(i) minutes of the meetings of the board of directors and of the shareholders; and

            (32)(a)(ii) the other records and information required to be kept by the corporation by Section 16-10a-830; and
       (32)(b) authenticating records of the corporation. See Utah Code 16-10a-102
• Share: means the unit into which the proprietary interests in a corporation are divided. See Utah Code 16-10a-102
• Shareholder: means :
            (34)(a)(i) the person in whose name a share is registered in the records of a corporation; or
            (34)(a)(ii) the beneficial owner of a share to the extent recognized pursuant to Section 16-10a-723. See Utah Code 16-10a-102
• Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. 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
• Statute: A law passed by a legislature.
• Tribe: means a tribe, band, nation, pueblo, or other organized group or community of Indians, including an Alaska Native village, that is legally recognized as eligible for and is consistent with a special program, service, or entitlement provided by the United States to Indians because of their status as Indians. See Utah Code 16-10a-102
• Trustee: A person or institution holding and administering property in trust.
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Venue: The geographical location in which a case is tried.
• Voting group: means all shares of one or more classes or series that under the articles of incorporation or this chapter are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Utah Code 16-10a-102
• Writing: includes :
       (48)(a) printing;
       (48)(b) handwriting; and
       (48)(c) information stored in an electronic or other medium if the information is retrievable in a perceivable format. See Utah Code 68-3-12.5