Terms Used In Utah Code > Title 31A > Chapter 5 > Part 6 - Miscellaneous Provisions

• Agent: means an individual other than a broker-dealer who represents a broker-dealer or issuer in effecting or attempting to effect purchases or sales of securities. See Utah Code 61-1-13
• 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.
• Broker-dealer: means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. See Utah Code 61-1-13
• Certificate: means evidence of insurance given to:
       (23)(a) an insured under a group insurance policy; or
       (23)(b) a third party. See Utah Code 31A-1-301
• Commission: means the Securities Commission created in Section Utah Code 61-1-13
• Conviction: A judgement of guilt against a criminal defendant.
• Director: means the director of the division appointed in accordance with Section 61-1-18. See Utah Code 61-1-13
• Director: means a member of the board of directors of a corporation. See Utah Code 31A-1-301
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Division: means the Division of Securities established by Section 61-1-18. See Utah Code 61-1-13
• Domestic insurer: means an insurer organized under the laws of this state. See Utah Code 31A-1-301
• Employee: means :
       (57)(a) an individual employed by an employer; or
       (57)(b) an individual who meets the requirements of Subsection (55)(b). See Utah Code 31A-1-301
• Federal covered adviser: means a person who:
            (1)(m)(i) is registered under Section 203 of the Investment Advisers Act of 1940; or
            (1)(m)(ii) is excluded from the definition of "investment adviser" under Section 202(a)(11) of the Investment Advisers Act of 1940. See Utah Code 61-1-13
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insurance: includes :
            (96)(b)(i) a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
            (96)(b)(ii) a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and
            (96)(b)(iii) a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
• Investment adviser: includes a financial planner or other person who:
                 (1)(q)(ii)(A) as an integral component of other financially related services, provides the investment advisory services described in Subsection (1)(q)(i) to others as part of a business;
                 (1)(q)(ii)(B) holds the person out as providing the investment advisory services described in Subsection (1)(q)(i) to others; or
                 (1)(q)(ii)(C) holds the person out as a financial adviser, financial consultant, or any other similar title as the division may specify in rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, in any way as to imply that the person is generally engaged in an investment advisory business, including a person who does not hold a securities license and uses a title described in this Subsection (1)(q)(ii)(C) in any advertising or marketing material. See Utah Code 61-1-13
• Investment adviser representative: means a partner, officer, director of, or a person occupying a similar status or performing similar functions, or other individual, except clerical or ministerial personnel, who:
                 (1)(r)(i)(A)

                      (1)(r)(i)(A)(I) is employed by or associated with an investment adviser who is licensed or required to be licensed under this chapter; or

                      (1)(r)(i)(A)(II) has a place of business located in this state and is employed by or associated with a federal covered adviser; and
                 (1)(r)(i)(B) does any of the following:

                      (1)(r)(i)(B)(I) makes a recommendation or otherwise renders advice regarding securities;

                      (1)(r)(i)(B)(II) manages accounts or portfolios of clients;

                      (1)(r)(i)(B)(III) determines which recommendation or advice regarding securities should be given;

                      (1)(r)(i)(B)(IV) solicits, offers, or negotiates for the sale of or sells investment advisory services; or

                      (1)(r)(i)(B)(V) supervises employees who perform any of the acts described in this Subsection (1)(r)(i)(B). See Utah Code 61-1-13
• Person: means :
            (1)(x)(i) an individual;
            (1)(x)(ii) a corporation;
            (1)(x)(iii) a partnership;
            (1)(x)(iv) a limited liability company;
            (1)(x)(v) an association;
            (1)(x)(vi) a joint-stock company;
            (1)(x)(vii) a joint venture;
            (1)(x)(viii) a trust where the interests of the beneficiaries are evidenced by a security;
            (1)(x)(ix) an unincorporated organization;
            (1)(x)(x) a government; or
            (1)(x)(xi) a political subdivision of a government. See Utah Code 61-1-13
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Proceeding: includes an action or special statutory proceeding. See Utah Code 31A-1-301
• 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
• purchase: means a contract for purchase of, contract to buy, or acquisition of a security or interest in a security for value. See Utah Code 61-1-13
• record: means information that is:
                 (1)(aa)(i)(A) inscribed in a tangible medium; or
                 (1)(aa)(i)(B)

                      (1)(aa)(i)(B)(I) stored in an electronic or other medium; and

                      (1)(aa)(i)(B)(II) retrievable in perceivable form. See Utah Code 61-1-13
• Security: means a:
                 (1)(ee)(i)(A) note;
                 (1)(ee)(i)(B) stock;
                 (1)(ee)(i)(C) treasury stock;
                 (1)(ee)(i)(D) bond;
                 (1)(ee)(i)(E) debenture;
                 (1)(ee)(i)(F) evidence of indebtedness;
                 (1)(ee)(i)(G) certificate of interest or participation in a profit-sharing agreement;
                 (1)(ee)(i)(H) collateral-trust certificate;
                 (1)(ee)(i)(I) preorganization certificate or subscription;
                 (1)(ee)(i)(J) transferable share;
                 (1)(ee)(i)(K) investment contract;
                 (1)(ee)(i)(L) burial certificate or burial contract;
                 (1)(ee)(i)(M) voting-trust certificate;
                 (1)(ee)(i)(N) certificate of deposit for a security;
                 (1)(ee)(i)(O) certificate of interest or participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease;
                 (1)(ee)(i)(P) commodity contract or commodity option;
                 (1)(ee)(i)(Q) interest in a limited liability company;
                 (1)(ee)(i)(R) life settlement interest; or
                 (1)(ee)(i)(S) in general, an interest or instrument commonly known as a "security" or a certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase an item listed in Subsections (1)(ee)(i)(A) through (R). See Utah Code 61-1-13
• Service of process: The service of writs or summonses to the appropriate party.
• State: means a state, territory, or possession of the United States, the District of Columbia, and Puerto Rico. See Utah Code 61-1-13
• Surplus: means the excess of assets over the sum of paid-in capital and liabilities. See Utah Code 31A-1-301