Terms Used In Utah Code > Title 51 > Chapter 8 > Part 2 - Standard of Conduct in Managing and Investing Institutional Fund

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Donor: The person who makes a gift.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Institution: means :
       (6)(a) a person, other than an individual, organized and operated exclusively for charitable purposes;
       (6)(b) a government or a governmental subdivision, agency, or instrumentality to the extent that it holds funds exclusively for a charitable purpose; and
       (6)(c) a trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated. See Utah Code 51-8-102
• Institutional fund: means a fund held by an institution exclusively for charitable purposes. See Utah Code 51-8-102
• Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, instrumentality, or any other legal or commercial entity. See Utah Code 51-8-102
• Property: includes both real and personal property. See Utah Code 68-3-12.5