Terms Used In Utah Code > Title 32B > Chapter 2 > Part 8 - Consumer Purchasing System

• Adviser: means a person who, at the request of the issuer, a confirmer, or another adviser, notifies or requests another adviser to notify the beneficiary that a letter of credit has been issued, confirmed, or amended. See Utah Code 70A-5-102
• Alcoholic product: includes an alcoholic beverage. See Utah Code 32B-1-102
• 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}
• Beneficiary: means a person who under the terms of a letter of credit is entitled to have its complying presentation honored. See Utah Code 70A-5-102
• Commission: means the Alcoholic Beverage Services Commission created in Section 32B-2-201. See Utah Code 32B-1-102
• Consumer purchasing system: means the consumer purchasing system established in Section 32B-2-802. See Utah Code 32B-2-801
• Department: means the Department of Alcoholic Beverage Services created in Section 32B-2-203. See Utah Code 32B-1-102
• Division: means the Division of Consumer Purchasing created in Section 32B-2-212. See Utah Code 32B-2-801
• Issuer: means a bank or other person that issues a letter of credit, but does not include an individual who makes an engagement for personal, family, or household purposes. See Utah Code 70A-5-102
• 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.
• Letter of credit: means a definite undertaking that satisfies the requirements of Section 70A-5-104 by an issuer to a beneficiary at the request or for the account of an applicant or, in the case of a financial institution, to itself or for its own account, to honor a documentary presentation by payment or delivery of an item of value. See Utah Code 70A-5-102
• Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
• Nominated person: means a person whom the issuer:
       (11)(a) designates or authorizes to pay, accept, negotiate, or otherwise give value under a letter of credit; and
       (11)(b) undertakes by agreement or custom and practice to reimburse. See Utah Code 70A-5-102
• 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.
• Package agency: means a retail liquor location operated:
       (85)(a) under an agreement with the department; and
       (85)(b) by a person:

            (85)(b)(i) other than the state; and

            (85)(b)(ii) who is authorized by the commission in accordance with Chapter 2, Part 6, Package Agency, to sell packaged liquor for consumption off the premises of the package agency. See Utah Code 32B-1-102
• 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
• Presentation: means delivery of a document to an issuer or nominated person for honor or giving of value under a letter of credit. See Utah Code 70A-5-102
• Record: means information that is inscribed on a tangible medium, or that is stored in an electronic or other medium and is retrievable in perceivable form. See Utah Code 70A-5-102
• 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
• State store: means a facility for the sale of packaged liquor:
            (131)(a)(i) located on premises owned or leased by the state; and
            (131)(a)(ii) operated by a state employee. See Utah Code 32B-1-102
• Store: means to place or maintain in a location an alcoholic product. See Utah Code 32B-1-102
• 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}