Terms Used In Utah Code > Title 25 > Chapter 6 - Uniform Voidable Transactions Act

• Access line: means a circuit-switched connection, or the functional equivalent of a circuit-switched connection, from an end-user to the public switched network. See Utah Code 54-8b-2
• Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affiliate: means :
       (1)(a) a person that directly or indirectly owns, controls, or holds with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person that holds the securities:

            (1)(a)(i) as a fiduciary or agent without sole discretionary power to vote the securities; or

            (1)(a)(ii) solely to secure a debt, if the person has not exercised the power to vote;
       (1)(b) a corporation 20% or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person that directly or indirectly owns, controls, or holds, with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person that holds the securities:

            (1)(b)(i) as a fiduciary or agent without sole discretionary power to vote the securities; or

            (1)(b)(ii) solely to secure a debt, if the person has not exercised the power to vote;
       (1)(c) a person whose business is operated by the debtor under a lease or other agreement, or a person substantially all of whose assets are controlled by the debtor; or
       (1)(d) a person that operates the debtor's business under a lease or other agreement or controls substantially all of the debtor's assets. See Utah Code 25-6-102
• Aggregator: means any person or entity that:
            (2)(a)(i) is not a telecommunications corporation;
            (2)(a)(ii) in the ordinary course of its business makes operator assisted services available to the public or to customers and transient users of its business or property through an operator service provider; and
            (2)(a)(iii) receives from an operator service provider by contract, tariff, or otherwise, commissions or compensation for calls delivered from the aggregator's location to the operator service provider. See Utah Code 54-8b-2
• 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.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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
• Asset: means property of a debtor, but does not include:
       (2)(a) property to the extent it is encumbered by a valid lien;
       (2)(b) property to the extent it is generally exempt under nonbankruptcy law; or
       (2)(c) an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant. See Utah Code 25-6-102
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Authorized person: means an employee or agent:
       (1)(a) of a public utility that:

            (1)(a)(i) generates, transmits, or delivers electricity; or

            (1)(a)(ii) provides and whose work relates to communication services;
       (1)(b) of an industrial plant whose work relates to the electrical system of the industrial plant;
       (1)(c) of a cable television or communication services company, or of a contractor of cable television or communication services company, if specifically and expressly authorized by the owner of the poles to make cable television or communication services attachments; or
       (1)(d) of a state, county, or municipal agency which has or whose work relates to:

            (1)(d)(i) overhead electrical lines;

            (1)(d)(ii) overhead lighting systems;

            (1)(d)(iii) authorized overhead circuit construction;

            (1)(d)(iv) conductors on poles; or

            (1)(d)(v) structures of any type. See Utah Code 54-8c-1
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Basic residential service: means a local exchange service for a residential customer consisting of:
       (3)(a) a single line with access to the public switched network;
       (3)(b) touch-tone or the functional equivalent;
       (3)(c) local flat-rate unlimited usage, exclusive of extended area service;
       (3)(d) single-party service;
       (3)(e) a free phone number listing in directories received for free;
       (3)(f) access to operator services;
       (3)(g) access to directory assistance;
       (3)(h) access to lifeline and telephone relay assistance;
       (3)(i) access to 911 and E911 emergency services;
       (3)(j) access to long-distance carriers;
       (3)(k) access to toll limitations services;
       (3)(l) other services as may be determined by the commission; and
       (3)(m) no feature. See Utah Code 54-8b-2
• 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}
• Certificate: means a certificate of public convenience and necessity issued by the commission authorizing a telecommunications corporation to provide specified public telecommunications services within a defined geographic service territory in the state. See Utah Code 54-8b-2
• City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• claim for relief: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. See Utah Code 25-6-102
• Commission: means the Public Service Commission. See Utah Code 54-2-1
• Common facilities: means all works and facilities:
       (1)(a) owned or used by two or more public power entities or power utilities; and
       (1)(b) necessary to the generation, transmission, or distribution of electric power and energy. See Utah Code 54-9-102
• 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.
• 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.
• Corporation: includes an association and a joint stock company having any powers or privileges not possessed by individuals or partnerships. See Utah Code 54-2-1
• Creditor: means a person that has a claim. See Utah Code 25-6-102
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Debt: means liability on a claim. See Utah Code 25-6-102
• Debtor: means a person that is liable on a claim. See Utah Code 25-6-102
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Division: means the Division of Public Utilities established in Section 54-4a-1. See Utah Code 54-8b-2
• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Utah Code 25-6-102
• 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
• Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
• 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.
• Federal Telecommunications Act: means the Communications Act of 1934, as amended, and the Federal Telecommunications Act of 1996, Pub. See Utah Code 54-8b-2
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantor: The person who establishes a trust and places property into it.
• High voltage: means voltage in excess of 600 volts measured between:
       (3)(a) conductors; or
       (3)(b) a conductor and the ground. See Utah Code 54-8c-1
• Incumbent telephone corporation: means a telephone corporation, its successors or assigns, which, as of May 1, 1995, held a certificate to provide local exchange services in a defined geographic service territory in the state. See Utah Code 54-8b-2
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insider: includes :
       (8)(a) if the debtor is an individual:

            (8)(a)(i) a relative of the debtor or of a general partner of the debtor;

            (8)(a)(ii) a partnership in which the debtor is a general partner;

            (8)(a)(iii) a general partner in a partnership described in Subsection (8)(a)(ii);

            (8)(a)(iv) a corporation of which the debtor is a director, officer, or person in control; or

            (8)(a)(v) a limited liability company of which the debtor is a member or manager;
       (8)(b) if the debtor is a corporation:

            (8)(b)(i) a director of the debtor;

            (8)(b)(ii) an officer of the debtor;

            (8)(b)(iii) a person in control of the debtor;

            (8)(b)(iv) a partnership in which the debtor is a general partner;

            (8)(b)(v) a general partner in a partnership described in Subsection (8)(b)(iv);

            (8)(b)(vi) a limited liability company of which the debtor is a member or manager; or

            (8)(b)(vii) a relative of a general partner, director, officer, or person in control of the debtor;
       (8)(c) if the debtor is a partnership:

            (8)(c)(i) a general partner in the debtor;

            (8)(c)(ii) a relative of a general partner in, a general partner of, or a person in control of the debtor;

            (8)(c)(iii) another partnership in which the debtor is a general partner;

            (8)(c)(iv) a general partner in a partnership described in Subsection (8)(c)(iii);

            (8)(c)(v) a limited liability company of which the debtor is a member or manager; or

            (8)(c)(vi) a person in control of the debtor;
       (8)(d) if the debtor is a limited liability company:

            (8)(d)(i) a member or manager of the debtor;

            (8)(d)(ii) another limited liability company in which the debtor is a member or manager;

            (8)(d)(iii) a partnership in which the debtor is a general partner;

            (8)(d)(iv) a general partner in a partnership described in Subsection (8)(d)(iii);

            (8)(d)(v) a person in control of the debtor; or

            (8)(d)(vi) a relative of a general partner, member, manager, or person in control of the debtor;
       (8)(e) an affiliate, or an insider of an affiliate as if the affiliate were the debtor; and
       (8)(f) a managing agent of the debtor. See Utah Code 25-6-102
• Inter vivos: Transfer of property from one living person to another living person.
• Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lien: means a charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien, or a statutory lien. See Utah Code 25-6-102
• Local exchange service: means the provision of telephone lines to customers with the associated transmission of two-way interactive, switched voice communication within the geographic area encompassing one or more local communities as described in maps, tariffs, or rate schedules filed with and approved by the commission. See Utah Code 54-8b-2
• Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
• Mobile telecommunications service: means a mobile telecommunications service:
       (12)(a) that is defined as a mobile telecommunications service in the Mobile Telecommunications Sourcing Act, Utah Code 54-8b-2
• 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.
• Operator assisted services: means services which assist callers in the placement or charging of a telephone call, either through live intervention or automated intervention. See Utah Code 54-8b-2
• Operator service provider: means any person or entity that provides, for a fee to a caller, operator assisted services. See Utah Code 54-8b-2
• Organization: means a person other than an individual. See Utah Code 25-6-102
• Overhead line: means all bare or insulated electrical conductors installed above the ground. See Utah Code 54-8c-1
• 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 an individual, estate, partnership, limited liability company, association, trust, business or nonprofit entity, public corporation, government or governmental subdivision, agency, instrumentality, or other legal or commercial entity. See Utah Code 25-6-102
• 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
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Property: means anything that may be the subject of ownership. See Utah Code 25-6-102
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• Public power entity: means :
       (4)(a) a city or town that owns a system for the generation, transmission, or distribution of electric power and energy for public or private use; and
       (4)(b) an interlocal entity. See Utah Code 54-9-102
• Public switched network: means the same as that term is defined in Utah Code 54-8b-2
• Public telecommunications service: means the two-way transmission of signs, signals, writing, images, sounds, messages, data, or other information of any nature by wire, radio, lightwaves, or other electromagnetic means offered to the public generally. See Utah Code 54-8b-2
• Public utility: means any entity that generates, transmits, or distributes electrical energy, including any:
       (5)(a) public utility as defined in Title 54, Chapter 2, General Provisions;
       (5)(b) municipality as defined in Title 10, Utah Municipal Code;
       (5)(c) agricultural cooperative association as defined in Title 3, Uniform Agricultural Cooperative Association Act;
       (5)(d) improvement district as defined in Section 17B-1-102; or
       (5)(e) entity created pursuant to Title 11, Chapter 13, Interlocal Cooperation Act. See Utah Code 54-8c-1
• Public utility: includes every railroad corporation, gas corporation, electrical corporation, distribution electrical cooperative, wholesale electrical cooperative, telephone corporation, telegraph corporation, water corporation, sewerage corporation, heat corporation, and independent energy producer not described in Section 54-2-201 where the service is performed for, or the commodity delivered to, the public generally, or in the case of a gas corporation or electrical corporation where the gas or electricity is sold or furnished to any member or consumers within the state for domestic, commercial, or industrial use. See Utah Code 54-2-1
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: includes :
       (31)(a) land;
       (31)(b) a tenement;
       (31)(c) a hereditament;
       (31)(d) a water right;
       (31)(e) a possessory right; and
       (31)(f) a claim. See Utah Code 68-3-12.5
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium that is retrievable in perceivable form. See Utah Code 25-6-102
• 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
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Relative: means an individual related by consanguinity within the third degree as determined by the common law, a spouse, or an individual related to a spouse within the third degree as so determined, and includes an individual in an adoptive relationship within the third degree. See Utah Code 25-6-102
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Responsible party: means any person who contracts to perform, is responsible for the performance of, or has control over, any function or activity at any location. See Utah Code 54-8c-1
• 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
• Sign: means , with present intent to authenticate or adopt a record:
       (15)(a) to execute or adopt a tangible symbol; or
       (15)(b) to attach to or logically associate with the record an electronic symbol, sound, or process. See Utah Code 25-6-102
• 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
• Telecommunications corporation: means any corporation or person, and their lessees, trustees, receivers, or trustees appointed by any court, owning, controlling, operating, managing, or reselling a public telecommunications service. See Utah Code 54-8b-2
• Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• Transfer: means every mode, direct or indirect, absolute or conditional, or voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, and creation of a lien or other encumbrance. See Utah Code 25-6-102
• Trustee: A person or institution holding and administering property in trust.
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
• 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