Terms Used In Utah Code > Title 7 > Chapter 24 > Part 1 - General Provisions

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
• Department: means the Department of Financial Institutions. 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
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• 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
• Title lender: includes a person that:
            (3)(b)(i) arranges a title loan on behalf of a title lender;
            (3)(b)(ii) acts as an agent for a title lender; or
            (3)(b)(iii) assists a title lender in the extension of a title loan. See Utah Code 7-24-102
• Title loan: includes a title loan extended at the same premise on which any of the following are sold:
            (4)(b)(i) a motor vehicle, as defined in Section 41-6a-102;
            (4)(b)(ii) a mobile home, as defined in Section 41-6a-102; or
            (4)(b)(iii) a motorboat, as defined in Section 73-18-2. See Utah Code 7-24-102
• 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