Terms Used In Utah Code > Title 16 > Chapter 10b > Part 3 - Accountability

• Annual benefit report: means a report required under Section 16-10b-401. See Utah Code 16-10b-103
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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}
• Benefit corporation: means a business corporation:
       (2)(a) that elects to become subject to this chapter; and
       (2)(b) the status of which as a benefit corporation has not been terminated. See Utah Code 16-10b-103
• Benefit director: means the director designated as the benefit director of a benefit corporation under Section 16-10b-302. See Utah Code 16-10b-103
• Benefit enforcement proceeding: means a proceeding in a court of competent jurisdiction for:
       (4)(a) failure of a benefit corporation to pursue or create general public benefit or a specific public benefit purpose set forth in its articles of incorporation; or
       (4)(b) a violation of an obligation, duty, or standard of conduct under this chapter. See Utah Code 16-10b-103
• Benefit officer: means the individual designated as the benefit officer of a benefit corporation under Section 16-10b-304. See Utah Code 16-10b-103
• 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.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Domestic violence: means the same as that term is defined in Section 77-36-1. See Utah Code 30-3-10.1
• Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
• 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.
• General public benefit: means a material positive impact on society and the environment:
       (9)(a) taken as a whole;
       (9)(b) assessed against a third-party standard; and
       (9)(c) from the business of a benefit corporation. See Utah Code 16-10b-103
• Independent: means having no material relationship with a benefit corporation or a subsidiary of the benefit corporation. See Utah Code 16-10b-103
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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.
• 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
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Protective order: means :
       (6)(a) a civil protective order, as that term is defined in Section 78B-7-102;
       (6)(b) an ex parte civil protective order, as that term is defined in Section 78B-7-102; or
       (6)(c) a foreign protection order, as that term is defined in Section 78B-7-302. See Utah Code 30-3-10.1
• Publicly traded corporation: means a business corporation that has shares listed on a national securities exchange or traded in a market maintained by one or more members of a national securities association. See Utah Code 16-10b-103
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Specific public benefit: includes :
       (14)(a) providing low-income or underserved individuals or communities with beneficial products or services;
       (14)(b) promoting economic opportunity for individuals or communities beyond the creation of jobs in the normal course of business;
       (14)(c) protecting or restoring the environment;
       (14)(d) improving human health;
       (14)(e) promoting the arts, sciences, or advancement of knowledge;
       (14)(f) increasing the flow of capital to entities with a purpose to benefit society or the environment; and
       (14)(g) conferring any other particular benefit on society or the environment. See Utah Code 16-10b-103
• 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.
• Subsidiary: means , in relation to a person, an entity in which the person owns beneficially or of record 50% or more of the outstanding equity interests, calculated as if all outstanding rights to acquire equity interests in the entity had been exercised. See Utah Code 16-10b-103