Terms Used In Utah Code > Title 7 > Chapter 25 - Money Transmitter Act

• Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
• Allegation: something that someone says happened.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Applicable office: means the office held by the subject officer. See Utah Code 20A-1-901
• Applicant: means a person filing an application for a license under this chapter. See Utah Code 7-25-102
• Appointee: means an employee whose salary, wages, pay, or compensation is paid from public funds. See Utah Code 52-3-1
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means a group of persons that:
            (1)(a)(i) constitute the members of a formal association organized for:

                 (1)(a)(i)(A) an identifiable interest;

                 (1)(a)(i)(B) an identifiable purpose;

                 (1)(a)(i)(C) a specific profession; or

                 (1)(a)(i)(D) a specific occupation; or
            (1)(a)(ii) are employed by a common employer. See Utah Code 7-9-3
• Authorized agent: means a person designated by the licensee under this chapter to sell or issue payment instruments or engage in the business of transmitting money on behalf of a licensee. See Utah Code 7-25-102
• Bad faith: means that a person files a petition described in Subsection 20A-1-803(1):
       (1)(a) under circumstances where a reasonable person would not believe that the allegations are true; or
       (1)(b)

            (1)(b)(i) within 60 days before an election that the candidate to which the petition relates will appear on the ballot; and

            (1)(b)(ii) under circumstances where a reasonable person would not believe that the allegations constitute a significant violation of a provision of this title. See Utah Code 20A-1-802
• 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
• Bank: means a person authorized under the laws of this state, another state, or the United States to accept deposits from the public. See Utah Code 7-1-103
• 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.
• Blockchain: means an electronic method of storing data that is:
       (3)(a) maintained by consensus of multiple unaffiliated parties;
       (3)(b) distributed across multiple locations; and
       (3)(c) mathematically verified. See Utah Code 7-25-102
• Blockchain token: means an electronic record that is:
       (4)(a) recorded on a blockchain; and
       (4)(b) capable of being traded between persons without an intermediary. See Utah Code 7-25-102
• Board: means the State Library Board created in Section 9-7-204. See Utah Code 9-7-101
• Chief administrative officer: means the person who has ultimate responsibility for the operation of the department or agency of the state or a political subdivision. See Utah Code 52-3-1
• City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• Clerk: includes a board of trustees under Title 17B, Chapter 1, Provisions Applicable to All Special Districts. See Utah Code 20A-1-1001
• 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.
• Contract: A legal written agreement that becomes binding when signed.
• 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
• Convention: means the political party convention at which party officers and delegates are selected. See Utah Code 20A-1-102
• Conviction: A judgement of guilt against a criminal defendant.
• Corporate credit union: means any credit union organized pursuant to any state or federal act for the purpose of serving other credit unions. See Utah Code 7-9-3
• 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.
• County legislative body: means :
       (8)(a) the county commission, in the county commission or expanded county commission form of government established under Title 17, Chapter 52a, Changing Forms of County Government;
       (8)(b) the county council, in the county executive-council optional form of government authorized by Section 17-52a-203; and
       (8)(c) the county council, in the council-manager optional form of government authorized by Section 17-52a-204. See Utah Code 68-3-12.5
• Credit union: means a cooperative, nonprofit association incorporated under:
       (6)(a) Chapter 9, Utah Credit Union Act; or
       (6)(b) Utah Code 7-1-103
• Credit union service organization: means an entity:
       (4)(a) that provides any of the services listed in Subsection 7-9-59(2); and
       (4)(b) in which a credit union organized under this chapter holds an ownership interest. See Utah Code 7-9-3
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Defendant: means each person against whom an allegation is made in the verified petition described in Subsection 20A-1-803(1). See Utah Code 20A-1-802
• 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
• Deposits: means that portion of the capital paid into the credit union by members on which a specified rate of interest will be paid. See Utah Code 7-9-3
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• 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
• 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 officer: means the licensee's president, chair of the executive committee, executive vice president, treasurer, chief financial officer, or any other person who performs similar functions. See Utah Code 7-25-102
• Father: means a parent who is of the male sex. See Utah Code 68-3-12.5
• Field of membership: means persons designated as eligible for credit union membership in accordance with:
       (6)(a) Section 7-9-51 or 7-9-53; and
       (6)(b) the bylaws of the credit union. See Utah Code 7-9-3
• Financial institution: means an institution subject to the jurisdiction of the department because of this title. See Utah Code 7-1-103
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• Household member: means a person who resides in the same residence as the public officer. See Utah Code 52-3-1
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Industrial bank: means a corporation or limited liability company conducting the business of an industrial bank under Chapter 8, Industrial Banks. See Utah Code 7-1-103
• Industrial loan company: means the same as that term is defined in Section 7-8-21. See Utah Code 7-1-103
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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.
• Key shareholder: means a person, or group of persons acting in concert, who is the owner of 20% or more of a class of an applicant's stock. See Utah Code 7-25-102
• 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
• 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}
• Library board: means the library board of directors appointed locally as authorized by Section 9-7-402 or 9-7-502 and which exercises general policy authority for library services within a city or county of the state, regardless of the title by which the board is known locally. See Utah Code 9-7-101
• Licensee: means a person licensed under this chapter. See Utah Code 7-25-102
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Local petition: means :
       (2)(a) a manual or electronic local initiative petition described in Chapter 7, Part 5, Local Initiatives - Procedures; or
       (2)(b) a manual or electronic local referendum petition described in Chapter 7, Part 6, Local Referenda - Procedures. See Utah Code 20A-1-1001
• Member-business loan: means any loan, line of credit, or letter of credit, the proceeds of which will be used for:
            (8)(a)(i) a commercial purpose;
            (8)(a)(ii) other business investment property or venture purpose; or
            (8)(a)(iii) an agricultural purpose. See Utah Code 7-9-3
• Mental capacity evaluation: means an evaluation by a qualified medical professional to determine whether the subject officer has the mental capacity to fulfill the essential functions of the applicable office, with or without reasonable accommodations. See Utah Code 20A-1-901
• Money transmission: means the sale or issuance of a payment instrument or engaging in the business of receiving money for transmission or transmitting money within the United States or to locations abroad by any and all means, including payment instrument, wire, facsimile, or electronic transfer. See Utah Code 7-25-102
• 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}
• Mother: means a parent who is of the female sex. See Utah Code 68-3-12.5
• Municipal office: means an elective office in a municipality. See Utah Code 20A-1-102
• Municipality: means a city or town. See Utah Code 20A-1-102
• Nationwide database: means the Nationwide Mortgage Licensing System and Registry, authorized under Utah Code 7-25-102
• Nonexempt credit union: means a credit union that is a nonexempt credit union under Section 7-9-55. See Utah Code 7-9-3
• Officer: means a county officer. See Utah Code 20A-1-901
• Official register: means the official record furnished to election officials by the election officer that contains the information required by Section 20A-5-401. See Utah Code 20A-1-102
• Payment instrument: means a check, draft, money order, travelers check, or other instrument or written order for the transmission or payment of money, sold or issued to one or more persons, whether or not the instrument is negotiable. See Utah Code 7-25-102
• 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
• Person: means :
       (24)(a) an individual;
       (24)(b) an association;
       (24)(c) an institution;
       (24)(d) a corporation;
       (24)(e) a company;
       (24)(f) a trust;
       (24)(g) a limited liability company;
       (24)(h) a partnership;
       (24)(i) a political subdivision;
       (24)(j) a government office, department, division, bureau, or other body of government; and
       (24)(k) any other organization or entity. See Utah Code 68-3-12.5
• Petition: means one of the following written requests, signed by registered voters, appealing to an authority with respect to a particular cause:
       (3)(a) a local petition;
       (3)(b) a petition to consolidate two or more municipalities under Section 10-2-601;
       (3)(c) a petition for disincorporation of a municipality under Section 10-2-701;
       (3)(d) a petition to incorporate a proposed municipality under Section 10-2a-208;
       (3)(e) a petition to consolidate adjoining counties under Section 17-2-103;
       (3)(f) a petition to annex a portion of a county to an adjoining county under Section 17-2-203;
       (3)(g) a petition for the creation of a new county under Section 17-3-1;
       (3)(h) a petition for the removal of a county seat under Section 17-11-2;
       (3)(i) a petition for the adoption of an optional plan under Section 17-52a-303;
       (3)(j) a petition for the repeal of an optional plan under Section 17-52a-505;
       (3)(k) a petition to create a special district under Section 17B-1-203;
       (3)(l) a petition to withdraw an area from a special district under Section 17B-1-504;
       (3)(m) a petition to dissolve a special district under Section 17B-1-1303;
       (3)(n) a petition for issuance of local building authority bonds under Section 17D-2-502;
       (3)(o) a petition to become a registered political party under Section 20A-8-103;
       (3)(p) a nomination petition for municipal office under Section 20A-9-203;
       (3)(q) a nomination petition for a regular primary election under Subsection 20A-9-403(3)(a) and Section 20A-9-405;
       (3)(r) a petition for a political party to qualify as a municipal political party under Section 20A-9-404;
       (3)(s) a petition for the nomination of a qualified political party under Section 20A-9-408;
       (3)(t) a nomination petition for a candidate not affiliated with a political party under Section 20A-9-502;
       (3)(u) a nomination petition to become a delegate to a ratification convention under Section 20A-15-103;
       (3)(v) a petition to create a new school district under Section 53G-3-301;
       (3)(w) a petition to consolidate school districts under Section 53G-3-401;
       (3)(x) a petition to transfer a portion of a school district to another district under Section 53G-3-501;
       (3)(y) a petition to determine whether a privatization project agreement should be approved under Section 73-10d-4; or
       (3)(z) a statewide petition. See Utah Code 20A-1-1001
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Political party: means an organization of registered voters that has qualified to participate in an election by meeting the requirements of Chapter 8, Political Party Formation and Procedures. See Utah Code 20A-1-102
• 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 officer: means a person who holds a position that is compensated by public funds. See Utah Code 52-3-1
• 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
• Quorum: The number of legislators that must be present to do business.
• Receiving official: means :
       (3)(a) the lieutenant governor, unless the verified petition described in Section 20A-1-803 alleges a violation by the governor, the lieutenant governor, or an employee of the lieutenant governor's office; or
       (3)(b) the attorney general, if the verified petition described in Section 20A-1-803 alleges a violation by the governor, the lieutenant governor, or an employee of the lieutenant governor's office. See Utah Code 20A-1-802
• Relative: means a father, mother, husband, wife, son, daughter, sister, brother, grandfather, grandmother, uncle, aunt, nephew, niece, grandson, granddaughter, first cousin, mother-in-law, father-in-law, brother-in-law, sister-in-law, son-in-law, or daughter-in-law. See Utah Code 52-3-1
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Remit: means either to make direct payment of the money to the licensee or its representatives authorized to receive the money, or to deposit the money in a depository institution in an account in the name of the licensee. See Utah Code 7-25-102
• Results of the mental capacity evaluation: means a statement by the qualified medical professional who conducts the mental capacity evaluation that the subject officer:
       (4)(a) has the mental capacity to fulfill the essential functions of the applicable office, without reasonable accommodations;
       (4)(b) has the mental capacity to fulfill the essential functions of the applicable office, with specified reasonable accommodations; or
       (4)(c) lacks the mental capacity to fulfill the essential functions of the applicable office, with or without reasonable accommodations. See Utah Code 20A-1-901
• Reviewing official: means :
       (4)(a) except as provided in Subsection (4)(b), the receiving official; or
       (4)(b) the reviewing official appointed under Subsection 20A-1-803(3)(a), if the receiving official appoints another individual as the reviewing official under Subsection 20A-1-803(3)(a). See Utah Code 20A-1-802
• service organization: means a corporation or other business entity owned or controlled by one or more financial institutions that is engaged or proposes to engage in business activities related to the business of financial institutions. See Utah Code 7-1-103
• Shares: means that portion of the capital paid into the credit union by members on which dividends may be paid. See Utah Code 7-9-3
• Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5
• Significant violation: means :
       (5)(a) a violation that, if known by voters before the election, may have resulted in a candidate, other than the candidate certified as having won the election, winning the election; or
       (5)(b) a violation that, had the violation not occurred, may have resulted in a candidate, other than the candidate certified as having won the election, winning the election. See Utah Code 20A-1-802
• Special district: means a local government entity under Title 17B, Limited Purpose Local Government Entities - Special Districts, and includes a special service district under Title 17D, Chapter 1, Special Service District Act. See Utah Code 20A-1-102
• 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
• 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
• Statewide petition: means :
       (4)(a) a manual or electronic statewide initiative petition described in Chapter 7, Part 2, Statewide Initiatives; or
       (4)(b) a manual or electronic statewide referendum petition described in Chapter 7, Part 3, Statewide Referenda. See Utah Code 20A-1-1001
• Statute: A law passed by a legislature.
• Subject officer: means the officer who is subject to proceedings under this part to determine whether the officer has the mental capacity to fulfill the essential functions of the officer's office, with or without reasonable accommodations. See Utah Code 20A-1-901
• Summons: Another word for subpoena used by the criminal justice system.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust company: means a person authorized to conduct a trust business, as provided in Chapter 5, Trust Business. See Utah Code 7-1-103
• Trustee: A person or institution holding and administering property in trust.
• Unanimous: means a vote of all members of a county legislative body where all members of the county legislative body, not including the subject officer, vote on the same side of the motion. See Utah Code 20A-1-901
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Vacancy: means :
       (75)(a) except as provided in Subsection (75)(b), the absence of an individual to serve in a position created by state constitution or state statute, whether that absence occurs because of death, disability, disqualification, resignation, or other cause ; or
       (75)(b) in relation to a candidate for a position created by state constitution or state statute, the removal of a candidate due to the candidate's death, resignation, or disqualification. See Utah Code 20A-1-102
• 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