Terms Used In Utah Code > Title 34 > Chapter 44 > Part 2 - Requirements and Prohibitions

• Bonds: means obligations issued by a municipality or a county under Title 11, Chapter 17, Utah Industrial Facilities and Development Act, and the provisions of this chapter. See Utah Code 73-10d-3
• Business relationship: means an agreement that governs the relationship of principal and sales representative. See Utah Code 34-44-102
• Commission: means :
       (2)(a) compensation:

            (2)(a)(i) that accrues to a sales representative;

            (2)(a)(ii) for payment by a principal; and

            (2)(a)(iii) at a rate expressed as a percentage of the dollar amount of sales, orders, or profits; or
       (2)(b) any other method of compensation agreed to between a sales representative and a principal including:

            (2)(b)(i) fees for services; and

            (2)(b)(ii) a retainer. See Utah Code 34-44-102
• Contract: A legal written agreement that becomes binding when signed.
• Cost: means , with respect to any privatization project or facility related thereto, without limitation:
       (3)(a) all costs of designing, planning, acquiring, constructing, reconstructing, modifying, improving, maintaining, equipping, extending, furnishing, and placing in service any privatization project, including architectural, planning, engineering, legal, and fiscal advisors' fees or costs, and any costs incident to the acquisition of any necessary property, easement, or right-of-way;
       (3)(b) any costs incurred for preliminary planning to determine the economic or engineering feasibility of a proposed privatization project, including, without limitation, costs of economic investigations and studies, surveys, preparation of designs, plans, working drawings, specifications, and inspection and supervision of the construction of any facility;
       (3)(c) all costs incident to the purchase, installation, or financing of equipment, machinery, and other personal property required by a privatization project;
       (3)(d) all costs incident to the authorization and issuance of bonds, including accountants' fees, attorneys' fees, financial advisors' fees, underwriting fees, including bond discount, and other professional services and printing costs;
       (3)(e) all costs incident to the establishment and funding of appropriate reserve funds; and
       (3)(f) interest estimated to accrue on any bonds issued to finance a privatization project for a reasonable period of time prior to construction, during construction, and for a reasonable period of time after construction. See Utah Code 73-10d-3
• Council: means the Water Development Coordinating Council created by Sections 79-2-201 and 73-10c-3. See Utah Code 73-10c-2
• Principal: means a person who:
       (4)(a) engages in any of the following activities with regard to a product or service:

            (4)(a)(i) manufactures;

            (4)(a)(ii) produces;

            (4)(a)(iii) imports;

            (4)(a)(iv) sells; or

            (4)(a)(v) distributes;
       (4)(b) establishes a business relationship with a sales representative to solicit orders for a product or a service described in Subsection (4)(a); and
       (4)(c) agrees to compensate a sales representative, in whole or in part, by commission. See Utah Code 34-44-102
• sales representative: means a person who enters into a business relationship with a principal:
            (5)(a)(i) to solicit orders for a product or a service described in Subsection (4)(a); and
            (5)(a)(ii) under which the person is compensated, in whole or in part, by commission. See Utah Code 34-44-102
• 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.
• 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
• termination: means the end of a business relationship between a sales representative and a principal, whether by:
       (6)(a) agreement;
       (6)(b) expiration of a time period; or
       (6)(c) exercise of a right of termination by either the principal or the sales representative. See Utah Code 34-44-102
• 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