§ 16-13-1 Organization of development corporations under Utah Revised Business Corporation Act — Corporate name
§ 16-13-2 Definitions
§ 16-13-3 Purposes of development corporation
§ 16-13-4 General powers of business development corporation
§ 16-13-5 Bonds or securities, capital stock of development corporations — Authority to purchase, hold, or dispose of — Rights of holders — Rights of financial institutions
§ 16-13-8 Board of directors — Number and election of members
§ 16-13-9 Requirement before commencing business — Cash consideration for shares — Minimum stated capital
§ 16-13-10 Amount of net earnings set apart as earned surplus
§ 16-13-11 Designation of depository
§ 16-13-12 Licensing, supervision, and examination by commissioner of financial institutions — Fees
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Terms Used In Utah Code > Title 16 > Chapter 13 - Business Development Corporations

  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Board: means the lake authority's governing body, created in Section 11-65-301. See Utah Code 11-65-101
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • 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.
  • Lake authority: means the Utah Lake Authority, created in Section 11-65-201. See Utah Code 11-65-101
  • Lake authority land: means land on the lake side of the lake authority boundary. See Utah Code 11-65-101
  • 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
  • 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.
  • Management: means work to coordinate and facilitate the improvement of Utah Lake, including work to enhance the long-term viability and health of Utah Lake and to produce economic, aesthetic, recreational, environmental, and other benefits for the state, consistent with the strategies, policies, and objectives described in this chapter. See Utah Code 11-65-101
  • Management plan: means a plan to conceptualize, design, facilitate, coordinate, encourage, and bring about the management of the lake authority land to achieve the policies and objectives described in Section 11-65-203. See Utah Code 11-65-101
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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
  • Property: includes both real and personal property. 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