Terms Used In Utah Code > Title 75A > Chapter 7 - Uniform Act for Simplification of Fiduciary Security Transfers

• Accessible housing: means housing which has been constructed or modified to be accessible, as described in the State Construction Code or an approved code under Title 15A, State Construction and Fire Codes Act. See Utah Code 35A-8-101
• Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
• Apprentice: means an individual who has entered into:
       (1)(a) a written agreement approved by the Office of Apprenticeship with an employer or the employer's agent, an association of employers, an organization of employees, or a joint committee representing employers and employees;
       (1)(b) an apprenticeship that meets Office of Apprenticeship standards; or
       (1)(c) an apprenticeship that can be completed at no charge to the participant where the participant learns and works with registered standards to learn a set of skills that result in the participant qualifying for a state license or certification or earning industry recognized credentials at the completion of the apprenticeship. See Utah Code 35A-6-102
• Apprenticeship: means an industry-driven, high-quality career pathway where employers can develop and prepare their future workforce, and individuals can obtain paid work experience, classroom instruction, and a portable, nationally recognized credential. See Utah Code 35A-6-102
• Assignment: includes any written stock power, bond power, bill of sale, deed, declaration of trust or other instrument of transfer. See Utah Code 75A-7-102
• 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}
• Bonus payments: means that portion of the bonus payments received by the United States government under the Leasing Act paid to the state under Section 35 of the Leasing Act, Utah Code 35A-8-302
• Claim of beneficial interest: includes :
       (2)(a) a claim of any interest by a decedent's legatee, distributee, heir or creditor, a beneficiary under a trust, a ward, a beneficial owner of a security registered in the name of a nominee, or a minor owner of a security registered in the name of a custodian, or a claim of any similar interest, whether the claim is asserted by the claimant or by a fiduciary or by any other authorized person in his behalf; and
       (2)(b) a claim that the transfer would be in breach of fiduciary duties. See Utah Code 75A-7-102
• Commissioner: means the Commissioner of Apprenticeship Programs described in Section 35A-6-105. See Utah Code 35A-6-102
• 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.
• Corporation: means a private or public corporation, association or trust issuing a security. See Utah Code 75A-7-102
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Workforce Services created in Section 35A-1-103. See Utah Code 35A-1-102
• Director: means the director of the division. See Utah Code 35A-8-101
• Division: means the Housing and Community Development Division. See Utah Code 35A-8-101
• Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
• 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.
• Executive director: means the executive director of the department appointed under Section 35A-1-201. See Utah Code 35A-1-102
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary: means an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian or nominee. See Utah Code 75A-7-102
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• 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.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Leasing Act: means the Mineral Lands Leasing Act of 1920, Utah Code 35A-8-302
• Legatee: A beneficiary of a decedent
• Moderate income housing: means housing occupied or reserved for occupancy by households with a gross household income equal to or less than 80% of the median gross income for households of the same size in the county in which the housing is located. See Utah Code 35A-8-101
• 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.
• Office of Apprenticeship: means the federal agency designated by the United States Department of Labor to oversee apprenticeship programs. See Utah Code 35A-6-102
• 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.
• Person: includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two or more persons having a joint or common interest, or any other legal or commercial entity. See Utah Code 75A-7-102
• Planning: includes :
            (7)(b)(i) the preparation of maps and guidelines;
            (7)(b)(ii) land use planning;
            (7)(b)(iii) a study or analysis of:

                 (7)(b)(iii)(A) the social or economic impacts associated with natural resource development;

                 (7)(b)(iii)(B) the demand for the transportation of individuals or goods;

                 (7)(b)(iii)(C) state, regional, and local development and growth;

                 (7)(b)(iii)(D) population and employment;

                 (7)(b)(iii)(E) development related to natural resources; and

                 (7)(b)(iii)(F) as related to any other activity described in this Subsection (7), engineering, financial analysis, legal analysis, or any other analysis helpful to the state, subdivision, or interlocal agency; and
            (7)(b)(iv) any activity described in this Subsection (7) regardless of whether the activity is for a public facility or a public service. See Utah Code 35A-8-302
• Pre-apprenticeship: means a program or set of strategies that is designed to prepare individuals to enter and succeed in an apprenticeship program with registered standards. See Utah Code 35A-6-102
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• Public service: includes :
            (9)(b)(i) a service described in Subsection (9)(a) regardless of whether the service is provided in connection with a public facility;
            (9)(b)(ii) the cost of providing a service described in Subsection (9)(a), including administrative costs, wages, and legal fees; and
            (9)(b)(iii) a contract with a public postsecondary institution to fund research, education, or a public service program. See Utah Code 35A-8-302
• Security: includes any share of stock, bond, debenture, note or other security issued by a corporation which is registered as to ownership on the books of the corporation. See Utah Code 75A-7-102
• Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5
• 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
• Transfer: means a change on the books of a corporation in the registered ownership of a security. See Utah Code 75A-7-102
• Transfer agent: means a person employed or authorized by a corporation to transfer securities issued by the corporation. See Utah Code 75A-7-102
• Trustee: A person or institution holding and administering property in trust.
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Youth apprenticeship: means a program or set of strategies that combines academic and technical classroom instruction with work experience through an apprenticeship program and which provides the foundation for youth in high school to choose among multiple pathways, including enrolling in college, beginning full-time employment, or a combination of college and employment. See Utah Code 35A-6-102