Terms Used In Utah Code > Title 53B > Chapter 8a - Utah Educational Savings Plan

• Account agreement: means an agreement between an account owner and the Utah Educational Savings Plan entered into under this chapter. See Utah Code 53B-8a-102
• Account owner: means a person, estate, or trust, if that person, estate, or trust has entered into an account agreement under this chapter to save for the higher education costs on behalf of a beneficiary. See Utah Code 53B-8a-102
• Administrative fund: means the money used to administer the Utah Educational Savings Plan. See Utah Code 53B-8a-102.5
• Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Ballot: means the storage medium, including a paper, mechanical, or electronic storage medium, that records an individual voter's vote. See Utah Code 20A-1-102
• Ballot proposition: means a question, issue, or proposal that is submitted to voters on the ballot for their approval or rejection including:
       (4)(a) an opinion question specifically authorized by the Legislature;
       (4)(b) a constitutional amendment;
       (4)(c) an initiative;
       (4)(d) a referendum;
       (4)(e) a bond proposition;
       (4)(f) a judicial retention question;
       (4)(g) an incorporation of a city or town; or
       (4)(h) any other ballot question specifically authorized by the Legislature. See Utah Code 20A-1-102
• Beneficiary: means the individual designated in an account agreement to benefit from the amount saved for higher education costs. See Utah Code 53B-8a-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}
• Board: means the Utah Education Savings Board of Trustees created in Section 53B-8a-105. See Utah Code 53B-8a-102.5
• Board: means the Utah Board of Higher Education described in Section 53B-1-402. See Utah Code 53B-1-101.5
• Certified: means that the county clerk has acknowledged a signature as being the signature of a registered voter. See Utah Code 20A-7-101
• Child: means an individual less than 20 years of age. See Utah Code 53B-8a-201
• Community partner: means a nonprofit organization that provide services to a child who is economically disadvantaged or a family member, legal guardian, or legal custodian of a child who is economically disadvantaged. See Utah Code 53B-8a-201
• 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.
• Department: means the Department of Workforce Services created in Section 35A-1-103. See Utah Code 53B-8a-301
• Donation: means a gift, grant, donation, or any other conveyance of money by a person other than the Legislature that is not made directly for the benefit or on behalf of a particular individual. See Utah Code 53B-8a-201
• Economically disadvantaged: means that a child is:
       (5)(a) experiencing intergenerational poverty;
       (5)(b) a member or foster child of a family with an annual income at or below 185% of the federal poverty level;
       (5)(c) living with a legal custodian or legal guardian with an annual family income at or below 185% of the federal poverty level; or
       (5)(d) living with a legal custodian or legal guardian who can attest that the child or the child's household is receiving services benefitting low-income households or individuals. See Utah Code 53B-8a-201
• Election: means a regular general election, a municipal general election, a statewide special election, a local special election, a regular primary election, a municipal primary election, and a special district election. See Utah Code 20A-1-102
• Election officer: means :
       (23)(a) the lieutenant governor, for all statewide ballots and elections;
       (23)(b) the county clerk for:

            (23)(b)(i) a county ballot and election; and

            (23)(b)(ii) a ballot and election as a provider election officer as provided in Section Utah Code 20A-1-102
• Electronic referendum process: means :
       (6)(a) as it relates to a statewide referendum, the process, described in Sections 20A-7-313 and 20A-21-201, for gathering signatures; or
       (6)(b) as it relates to a local referendum, the process, described in Sections 20A-7-614 and 20A-21-201, for gathering signatures. See Utah Code 20A-7-101
• Eligible individual: means an individual who:
       (6)(a) is under 20 years of age and is a resident of Utah;
       (6)(b) is economically disadvantaged; and
       (6)(c) receives, or has a family member, a foster family member, or a legal custodian or legal guardian who receives, services from a community partner. See Utah Code 53B-8a-201
• Endowment fund: means the endowment fund established under Section 53B-8a-107, which is held as a separate fund within the Utah Educational Savings Plan. See Utah Code 53B-8a-102.5
• Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
• Executive director: means the administrator appointed to administer and manage the Utah Educational Savings Plan. See Utah Code 53B-8a-102.5
• Federal poverty level: means the poverty level as defined by the most recently revised poverty income guidelines published by the United States Department of Health and Human Services in the Federal Register. See Utah Code 53B-8a-201
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Grantor trust: means a trust, the income of which is for the benefit of the grantor under Section 677, Internal Revenue Code. See Utah Code 53B-8a-102.5
• Guardian: includes a person who:
       (14)(a) qualifies as a guardian of a minor or incapacitated person pursuant to testamentary or court appointment; or
       (14)(b) is appointed by a court to manage the estate of a minor or incapacitated person. See Utah Code 68-3-12.5
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Higher education costs: means the same as that term is defined in Section Utah Code 53B-8a-201
• Higher education costs: means qualified higher education expenses as defined in Section 529(e)(3), Internal Revenue Code. See Utah Code 53B-8a-102.5
• Initiative: means a new law proposed for adoption by the public as provided in this chapter. See Utah Code 20A-7-101
• Intergenerational poverty: means the same as that term is defined in Section 35A-9-102. See Utah Code 53B-8a-201
• 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.
• Land use law: means a law of general applicability, enacted based on the weighing of broad, competing policy considerations, that relates to the use of land, including land use regulation, a general plan, a land use development code, an annexation ordinance, the rezoning of a single property or multiple properties, or a comprehensive zoning ordinance or resolution. See Utah Code 20A-7-101
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Local attorney: means the county attorney, city attorney, or town attorney in whose jurisdiction a local initiative or referendum petition is circulated. See Utah Code 20A-7-101
• Local clerk: means the county clerk, city recorder, or town clerk in whose jurisdiction a local initiative or referendum petition is circulated. See Utah Code 20A-7-101
• Local law: includes :
            (21)(a)(i) an ordinance;
            (21)(a)(ii) a resolution;
            (21)(a)(iii) a land use law;
            (21)(a)(iv) a land use regulation, as defined in Section 10-9a-103; or
            (21)(a)(v) other legislative action of a local legislative body. See Utah Code 20A-7-101
• Local legislative body: means the legislative body of a county, city, or town. See Utah Code 20A-7-101
• Local tax law: means a law, passed by a political subdivision with an annual or biannual calendar fiscal year, that increases a tax or imposes a new tax. See Utah Code 20A-7-101
• Manual referendum process: means the process for gathering signatures for a referendum using paper signature packets that a signer physically signs. See Utah Code 20A-7-101
• Match: means the same as that term is defined in Section 35A-9-601. See Utah Code 53B-8a-301
• Municipality: means a city or town. See Utah Code 20A-1-102
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• Official ballot: means the ballots distributed by the election officer for voters to record their votes. See Utah Code 20A-1-102
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner of the grantor trust: means one or more individuals who are treated as an owner of a trust under Section 677, Internal Revenue Code, if that trust is a grantor trust. See Utah Code 53B-8a-102.5
• Plan: means the Utah Educational Savings Plan created in Section 53B-8a-103. See Utah Code 53B-8a-102
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Program: means the Student Prosperity Savings Program created in Section 53B-8a-202. See Utah Code 53B-8a-201
• Program fund: means the program fund created under Section 53B-8a-107, which is held as a separate fund within the Utah Educational Savings Plan. See Utah Code 53B-8a-102.5
• Proxy voting: The practice of allowing a legislator to cast a vote in committee for an absent legislator.
• qualified: means to take the oath of office and begin performing the duties of the position for which the individual was elected. See Utah Code 20A-1-102
• Qualified investment: means an amount invested in accordance with an account agreement established under this part. See Utah Code 53B-8a-102.5
• Qualifying individual: means the same as that term is defined in Section 35A-9-601, except that the term is limited to individuals for whom the department sends information in accordance with Subsection 35A-9-604(3). See Utah Code 53B-8a-301
• Referendum: means a process by which a law passed by the Legislature or by a local legislative body is submitted or referred to the voters for their approval or rejection. See Utah Code 20A-7-101
• Referendum packet: means a copy of the referendum petition, a copy of the law being submitted or referred to the voters for their approval or rejection, and the signature sheets, all of which have been bound together as a unit. See Utah Code 20A-7-101
• Referendum petition: means :
       (32)(a) as it relates to a statewide referendum, using the manual referendum process, the form described in Subsection 20A-7-303(2)(a), petitioning for submission of a law passed by the Legislature to legal voters for their approval or rejection;
       (32)(b) as it relates to a statewide referendum, using the electronic referendum process, the form described in Subsection 20A-7-313(2), petitioning for submission of a law passed by the Legislature to legal voters for their approval or rejection;
       (32)(c) as it relates to a local referendum, using the manual referendum process, the form described in Subsection 20A-7-603(2)(a), petitioning for submission of a local law to legal voters for their approval or rejection; or
       (32)(d) as it relates to a local referendum, using the electronic referendum process, the form described in Subsection 20A-7-614(2), petitioning for submission of a local law to legal voters for their approval or rejection. See Utah Code 20A-7-101
• Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5
• Special election: means an election held as authorized by Section 20A-1-203. See Utah Code 20A-1-102
• Sponsors: means the legal voters who support the initiative or referendum and who sign the initiative application or referendum application. See Utah Code 20A-7-101
• Technical college: means an institution of higher education described in Subsection 53B-1-102(1)(b). See Utah Code 53B-1-101.5
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Voter: means an individual who:
       (79)(a) meets the requirements for voting in an election;
       (79)(b) meets the requirements of election registration;
       (79)(c) is registered to vote; and
       (79)(d) is listed in the official register book. See Utah Code 20A-1-102
• 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