Terms Used In Utah Code > Title 7 > Chapter 23 > Part 5 - Enforcement

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Business of cashing checks: means cashing a check for consideration. See Utah Code 7-23-102
• Business of deferred deposit lending: means extending a deferred deposit loan. See Utah Code 7-23-102
• Check: is a s defined in Section 70A-3-104. See Utah Code 7-23-102
• Check casher: means a person that engages in the business of cashing checks. See Utah Code 7-23-102
• Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• control: means the power, directly or indirectly, or through or in concert with one or more persons, to:
       (5)(a) direct or exercise a controlling influence over:

            (5)(a)(i) the management or policies of a financial institution; or

            (5)(a)(ii) the election of a majority of the directors or trustees of an institution; or
       (5)(b) vote 25% or more of any class of voting securities of a financial institution. See Utah Code 7-1-103
• Deferred deposit lender: means a person that engages in the business of deferred deposit lending. See Utah Code 7-23-102
• Deferred deposit loan: means a transaction where:
       (7)(a) a person:

            (7)(a)(i) presents to a deferred deposit lender a check written on that person's account; or

            (7)(a)(ii) provides written or electronic authorization to a deferred deposit lender to effect a debit from that person's account using an electronic payment; and
       (7)(b) the deferred deposit lender:

            (7)(b)(i) provides the person described in Subsection (7)(a) an amount of money that is equal to the face value of the check or the amount of the debit less any fee or interest charged for the transaction; and

            (7)(b)(ii) agrees not to cash the check or process the debit until a specific date. See Utah Code 7-23-102
• Department: means the Department of Financial Institutions. See Utah Code 7-1-103
• Depository institution: means a bank, savings and loan association, savings bank, industrial bank, credit union, or other institution that:
       (8)(a) holds or receives deposits, savings, or share accounts;
       (8)(b) issues certificates of deposit; or
       (8)(c) provides to its customers other depository accounts that are subject to withdrawal by checks, drafts, or other instruments or by electronic means to effect third party payments. See Utah Code 7-1-103
• Fiduciary: A trustee, executor, or administrator.
• Institution: means :
       (19)(a) a corporation;
       (19)(b) a limited liability company;
       (19)(c) a partnership;
       (19)(d) a trust;
       (19)(e) an association;
       (19)(f) a joint venture;
       (19)(g) a pool;
       (19)(h) a syndicate;
       (19)(i) an unincorporated organization; or
       (19)(j) any form of business entity. See Utah Code 7-1-103
• 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.
• Person: means :
       (27)(a) an individual;
       (27)(b) a corporation;
       (27)(c) a limited liability company;
       (27)(d) a partnership;
       (27)(e) a trust;
       (27)(f) an association;
       (27)(g) a joint venture;
       (27)(h) a pool;
       (27)(i) a syndicate;
       (27)(j) a sole proprietorship;
       (27)(k) an unincorporated organization; or
       (27)(l) any form of business entity. See Utah Code 7-1-103
• Probate: Proving a will
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• State: means , unless the context demands otherwise:
       (33)(a) a state;
       (33)(b) the District of Columbia; or
       (33)(c) the territories of the United States. See Utah Code 7-1-103
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trust business: means , except as provided in Subsection (1)(c), a business in which one acts in any agency or fiduciary capacity, including that of personal representative, executor, administrator, conservator, guardian, assignee, receiver, depositary, or trustee under appointment as trustee for any purpose permitted by law, including the definition of "trust" set forth in Subsection 75-1-201(55). See Utah Code 7-5-1
• Trust company: means an institution authorized to engage in the trust business under this chapter. See Utah Code 7-5-1
• Trustee: A person or institution holding and administering property in trust.
• 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