Sections
Part 1 Short Title and General Matters 70A-8-100 – 70A-8-115
Part 2 Issue and Issuer 70A-8-201 – 70A-8-210
Part 3 Transfer of Certificated and Uncertificated Securities 70A-8-301 – 70A-8-307
Part 4 Registration 70A-8-401 – 70A-8-409.1
Part 5 Security Entitlements 70A-8-501 – 70A-8-511
Part 6 Transition Provisions 70A-8-601

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Terms Used In Utah Code > Title 70A > Chapter 8 - Uniform Commercial Code - Investment Securities

  • Adverse claim: means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the financial asset. See Utah Code 70A-8-101
  • Alcoholic product: includes an alcoholic beverage. See Utah Code 32B-1-102
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Broker: means a person defined as a broker or dealer under the federal securities laws, but without excluding a bank acting in that capacity. See Utah Code 70A-8-101
  • Certificated security: means a security that is represented by a certificate. See Utah Code 70A-8-101
  • Clearing corporation: means :
              (1)(e)(i) a person that is registered as a "clearing agency" under the federal securities laws;
              (1)(e)(ii) a federal reserve bank; or
              (1)(e)(iii) any other person that provides clearance or settlement services with respect to financial assets that would require it to register as a clearing agency under the federal securities laws but for an exclusion or exemption from the registration requirement, if its activities as a clearing corporation, including promulgation of rules, are subject to regulation by a federal or state governmental authority. See Utah Code 70A-8-101
  • Commission: means the Alcoholic Beverage Services Commission created in Section 32B-2-201. See Utah Code 32B-1-102
  • Communicate: means to:
              (1)(f)(i) send a signed writing; or
              (1)(f)(ii) transmit information by any mechanism agreed upon by the persons transmitting and receiving the information. See Utah Code 70A-8-101
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Department: means the Department of Alcoholic Beverage Services created in Section 32B-2-203. See Utah Code 32B-1-102
  • Entitlement holder: means a person identified in the records of a securities intermediary as the person having a security entitlement against the securities intermediary. See Utah Code 70A-8-101
  • Entitlement order: means a notification communicated to a securities intermediary directing transfer or redemption of a financial asset to which the entitlement holder has a security entitlement. See Utah Code 70A-8-101
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Financial asset: except as otherwise provided in Section 70A-8-102, means:
                   (1)(i)(i)(A) a security;
                   (1)(i)(i)(B) an obligation of a person or a share, participation, or other interest in a person or in property or an enterprise of a person, which is or is of a type, dealt in or traded on financial markets, or which is recognized in any area in which it is issued or dealt in as a medium for investment; or
                   (1)(i)(i)(C) any property that is held by a securities intermediary for another person in a securities account if that securities intermediary has expressly agreed with the other person that the property is to be treated as a financial asset under this chapter. See Utah Code 70A-8-101
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Indorsement: means a signature that alone or accompanied by other words is made on a security certificate in registered form or on a separate document for the purpose of assigning, transferring, or redeeming the security or granting a power to assign, transfer, or redeem it. See Utah Code 70A-8-101
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Instruction: means a notification communicated to the issuer of an uncertificated security which directs that the transfer of the security be registered or that the security be redeemed. See Utah Code 70A-8-101
  • Land: includes :
         (18)(a) land;
         (18)(b) a tenement;
         (18)(c) a hereditament;
         (18)(d) a water right;
         (18)(e) a possessory right; and
         (18)(f) a claim. See Utah Code 68-3-12.5
  • Land company: means a mutual benefit corporation, as defined in Section 16-6a-102, that bases the use of the corporation's land on issued share ownership. See Utah Code 70A-8-101
  • License: means :
         (62)(a) a retail license;
         (62)(b) a sublicense;
         (62)(c) a license issued in accordance with Chapter 7, Part 4, Off-premise Beer Retailer State License;
         (62)(d) a license issued in accordance with Chapter 11, Manufacturing and Related Licenses Act;
         (62)(e) a license issued in accordance with Chapter 12, Liquor Warehousing License Act;
         (62)(f) a license issued in accordance with Chapter 13, Beer Wholesaling License Act; or
         (62)(g) a license issued in accordance with Chapter 17, Liquor Transport License Act. See Utah Code 32B-1-102
  • Licensee: means a person who holds a license. See Utah Code 32B-1-102
  • Member: means an individual who, after paying regular dues, has full privileges in an equity licensee or fraternal licensee. See Utah Code 32B-1-102
  • Minor: means an individual under 21 years old. See Utah Code 32B-1-102
  • Nuisance activity: means :
         (1)(a) a judicial finding that a licensed establishment is a nuisance under Section 32B-4-208; or
         (1)(b) an act described in Section 32B-3-303. See Utah Code 32B-3-302
  • Objecting governmental entity: means :
         (2)(a) a local government entity;
         (2)(b) a prosecutor's office; or
         (2)(c) a law enforcement agency. See Utah Code 32B-3-302
  • offer for sale: means a transaction, exchange, or barter whereby, for consideration, an alcoholic product is either directly or indirectly transferred, solicited, ordered, delivered for value, or by a means or under a pretext is promised or obtained, whether done by a person as a principal, proprietor, or as staff, unless otherwise defined in this title or the rules made by the commission. See Utah Code 32B-1-102
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Premises: means a building, enclosure, or room used in connection with the storage, sale, furnishing, consumption, manufacture, or distribution, of an alcoholic product, unless otherwise defined in this title or rules made by the commission. See Utah Code 32B-1-102
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Record: includes :
              (103)(b)(i) a book;
              (103)(b)(ii) a book of account;
              (103)(b)(iii) a paper;
              (103)(b)(iv) a contract;
              (103)(b)(v) an agreement;
              (103)(b)(vi) a document; or
              (103)(b)(vii) a recording in any medium. See Utah Code 32B-1-102
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Retail license: means one of the following licenses issued under this title:
         (113)(a) a full-service restaurant license;
         (113)(b) a master full-service restaurant license;
         (113)(c) a limited-service restaurant license;
         (113)(d) a master limited-service restaurant license;
         (113)(e) a bar establishment license;
         (113)(f) an airport lounge license;
         (113)(g) an on-premise banquet license;
         (113)(h) an on-premise beer license;
         (113)(i) a reception center license;
         (113)(j) a beer-only restaurant license;
         (113)(k) a hospitality amenity license;
         (113)(l) a resort license;
         (113)(m) a hotel license; or
         (113)(n) an arena license. See Utah Code 32B-1-102
  • Securities intermediary: means :
              (1)(o)(i) a clearing corporation; or
              (1)(o)(ii) a person, including a bank or broker, that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity. See Utah Code 70A-8-101
  • Security: except as otherwise provided in Section 70A-8-102, means an obligation of an issuer or a share, participation, or other interest in an issuer or in property or an enterprise of an issuer that:
              (1)(p)(i) is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;
              (1)(p)(ii) is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests, or obligations; and
              (1)(p)(iii)
                   (1)(p)(iii)(A) is, or is of a type, dealt in or traded on securities exchanges or securities markets; or
                   (1)(p)(iii)(B) is a medium for investment and by its terms expressly provides that it is a security governed by this chapter. See Utah Code 70A-8-101
  • Security certificate: means a certificate representing a security. See Utah Code 70A-8-101
  • Security entitlement: means the rights and property interest of an entitlement holder with respect to a financial asset specified in Part 5, Security Entitlements. See Utah Code 70A-8-101
  • Serve: means to place an alcoholic product before an individual. See Utah Code 32B-1-102
  • Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5
  • Staff: includes :
              (128)(b)(i) an officer;
              (128)(b)(ii) a director;
              (128)(b)(iii) an employee;
              (128)(b)(iv) personnel management;
              (128)(b)(v) an agent of the licensee, including a managing agent;
              (128)(b)(vi) an operator; or
              (128)(b)(vii) a representative. See Utah Code 32B-1-102
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Uncertificated security: means a security that is not represented by a certificate. See Utah Code 70A-8-101
  • 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
  • Water company: is a s defined in Section 16-4-102. See Utah Code 70A-8-101