Terms Used In Utah Code > Title 9 > Chapter 8 > Part 8 - Preserve Our Heritage Act

• Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• Agency: means any administrative unit of Utah's state government or local government. See Utah Code 9-8-802
• Arts: includes traditional, folk, classical, ethnic, contemporary, and other art forms. See Utah Code 9-6-102
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• Bequest: Property gifted by will.
• Board: means the State Library Board created in Section 9-7-204. See Utah Code 9-7-101
• Borrower: means any person who becomes obligated on a real estate loan at the time of origination of such loan and includes mortgagors, trustors under trust deeds and vendees under conditional land sales contracts. See Utah Code 7-17-2
• City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
• 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
• 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 executive: means :
       (7)(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;
       (7)(b) the county executive, in the county executive-council optional form of government authorized by Section 17-52a-203; or
       (7)(c) the county manager, in the council-manager optional form of government authorized by Section 17-52a-204. See Utah Code 68-3-12.5
• 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
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Cultural and Community Engagement. See Utah Code 9-1-102
• 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
• Depository institution holding company: means :
            (9)(a)(i) a person other than an individual that:

                 (9)(a)(i)(A) has control over a depository institution; or

                 (9)(a)(i)(B) becomes a holding company of a depository institution under Section 7-1-703; or
            (9)(a)(ii) a person other than an individual that the commissioner finds, after considering the specific circumstances, is exercising or is capable of exercising a controlling influence over a depository institution by means other than those specifically described in this section. See Utah Code 7-1-103
• Devise: To gift property by will.
• Digital library: means the web-accessible digital library of state publications created under Section 9-7-208. See Utah Code 9-7-101
• Division: means the State Library Division. See Utah Code 9-7-101
• Division: means the Division of Arts and Museums. See Utah Code 9-6-102
• Donor: The person who makes a gift.
• endowment care cemetery: means a cemetery or mausoleum for crypt or vault interments, columbarium for permanent cinerary interments, or any other place providing lots or other interment space for the remains of human bodies that:
       (2)(a) represents to the public that it will care for, maintain, and embellish its property to preserve it from becoming unkempt and a place of reproach and desolation in the community in which it is located; and
       (2)(b) collects funds for the purpose stated in Subsection (2)(a). See Utah Code 8-4-1
• Endowment fund: means any endowment fund created under this chapter by a qualifying organization. See Utah Code 9-6-501
• Escrow: means an agreement, express or implied, that provides for one or more parties to deliver or entrust money, a certificate of deposit, a security, a negotiable instrument, a deed, or other property or asset to another person to be held, paid, or delivered in accordance with terms and conditions prescribed in the agreement. See Utah Code 7-22-101
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Escrow agent: means a person that provides or offers to provide escrow services to the public. See Utah Code 7-22-101
• 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 of Cultural and Community Engagement. See Utah Code 9-1-102
• Failing or failed depository institution: means a depository institution under the jurisdiction of the department:
       (1)(a) regarding which the commissioner makes a finding that any of the conditions set forth in Subsections 7-2-1(1)(a) through (k) exist;
       (1)(b) that meets the requirements of Subsection 7-2-1(1)(l);
       (1)(c) whose shareholders have consented to a supervisory action by the commissioner pursuant to Subsection 7-2-1(2); or
       (1)(d) which is in the possession of the commissioner, or any receiver or liquidator appointed by the commissioner, pursuant to Chapter 2, Possession of Depository Institution by Commissioner. See Utah Code 7-19-1
• Failing or failed depository institution holding company: means a depository institution holding company under the jurisdiction of the department:
       (2)(a) regarding which the commissioner makes a finding that any of the conditions set forth in Subsections 7-2-1(1)(a) through (k) exist;
       (2)(b) that meets the requirements of Subsection 7-2-1(1)(l);
       (2)(c) whose shareholders have consented to a supervisory action by the commissioner pursuant to Subsection 7-2-1(2);
       (2)(d) which is in the possession of the commissioner, or any receiver or liquidator appointed by the commissioner, pursuant to Chapter 2, Possession of Depository Institution by Commissioner; or
       (2)(e) whose subsidiary depository institution is a failing or failed depository institution. See Utah Code 7-19-1
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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
• Internet policy: means the public library online access policy required in Section 9-7-215. See Utah Code 9-7-101
• 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.
• 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}
• Legislative publication: means :
       (6)(a) the Utah Code after the legislative staff office prepares an updated Utah Code database incorporating amendments to the Utah Code;
       (6)(b) the Laws of Utah; and
       (6)(c) the Utah Constitution after the legislative staff office incorporates into the Utah Constitution amendments to the Utah Constitution that passed during the preceding regular general election. See Utah Code 9-7-101
• Legislative staff office: means the Office of Legislative Research and General Counsel. See Utah Code 9-7-101
• Lender: means any person who regularly makes, extends or holds real estate loans and includes, but is not limited to, mortgagees, beneficiaries under trust deeds and vendors under conditional land sales contracts and who regularly require or maintain reserve accounts. See Utah Code 7-17-2
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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
• Lien: A claim against real or personal property in satisfaction of a debt.
• Liquidator: means a person, agency, or instrumentality of this state or the United States appointed to conduct a liquidation. See Utah Code 7-1-103
• Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
• 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}
• Museum: means an organized and permanent institution that:
       (6)(a) is owned or controlled by the state, a county, or a municipality, or is a nonprofit organization;
       (6)(b) has an educational or aesthetic purpose;
       (6)(c) owns or curates a tangible collection; and
       (6)(d) exhibits the collection to the public on a regular schedule. See Utah Code 9-6-102
• Nationwide database: means the Nationwide Mortgage Licensing System and Registry, authorized under Utah Code 7-22-101
• 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.
• Out-of-state: means , in reference to a depository institution or depository institution holding company, an institution or company whose home state is not Utah. 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
• 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
• Personal property: includes :
       (25)(a) money;
       (25)(b) goods;
       (25)(c) chattels;
       (25)(d) effects;
       (25)(e) evidences of a right in action;
       (25)(f) a written instrument by which a pecuniary obligation, right, or title to property is created, acknowledged, transferred, increased, defeated, discharged, or diminished; and
       (25)(g) a right or interest in an item described in Subsections (25)(a) through (f). See Utah Code 68-3-12.5
• Personal property: All property that is not real property.
• Physical format: means a transportable medium in which analog or digital information is published, such as print, microform, magnetic disk, or optical disk. See Utah Code 9-7-101
• Political subdivision: means a county, city, town, school district, public transit district, redevelopment agency, or special improvement or taxing district. See Utah Code 9-7-101
• 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
• Qualifying organization: means any Utah nonprofit arts or museum organization that qualifies under this chapter to create an endowment fund, receive state money into the endowment fund, match state money deposited into the endowment fund, and expend interest earned on the endowment fund. See Utah Code 9-6-501
• Quorum: The number of legislators that must be present to do business.
• Real estate loan: means any agreement providing for a loan secured by an interest in real estate in this state containing a residential structure of not more than four housing units, at least one of which is the primary residence of the borrower and includes, but is not limited to, agreements secured by mortgages, trust deeds, and conditional land sales contracts. See Utah Code 7-17-2
• Receiver: means a person, agency, or instrumentality of this state or the United States appointed to administer and manage an institution subject to the jurisdiction of the department in receivership, as provided in Chapter 2, Possession of Depository Institution by Commissioner, and Chapter 19, Acquisition of Failing Depository Institutions or Holding Companies. See Utah Code 7-1-103
• Receivership: means the administration and management of the affairs of an institution subject to the jurisdiction of the department to conserve, preserve, and properly dispose of the assets, liabilities, and revenues of an institution in possession, as provided in Chapter 2, Possession of Depository Institution by Commissioner, and Chapter 19, Acquisition of Failing Depository Institutions or Holding Companies. See Utah Code 7-1-103
• Reposited materials: means materials of historical, artistic, literary, or scientific value that are deposited in a collecting institution. See Utah Code 9-8-802
• Reserve account: means any account, whether denominated escrow, impound, trust, pledge, reserve or otherwise, which is established in connection with a loan secured by an interest in real estate located in this state, whether or not a real estate loan as defined in this chapter, and whether incorporated into the loan agreement or a separate document, whereby the borrower agrees to make periodic prepayment to the lender or its designee of taxes, insurance premiums or other charges pertaining to the property securing the loan and the lender or its designee agrees to pay the taxes, insurance premiums or other charges out of the account on or before their due date. See Utah Code 7-17-2
• Society: means the Utah Historical Society created in Section 9-8-201. See Utah Code 9-8-102
• 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
• 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 agency: means :
            (10)(a)(i) the state; or
            (10)(a)(ii) an office, department, division or other agency or instrumentality of the state. See Utah Code 9-7-101
• State fund: means the Utah Arts and Museums Endowment Fund created in Section 9-6-502. See Utah Code 9-6-501
• State institution of higher education: means an institution described in Section 53B-2-101 or any other university or college that is established and maintained by the state. See Utah Code 9-7-101
• State publication: includes a book, compilation, directory, map, fact sheet, newsletter, brochure, bulletin, journal, magazine, pamphlet, periodical, report, video recording, and electronic publication. See Utah Code 9-7-101
• Statute: A law passed by a legislature.
• Subsidiary: means a business entity under the control of an institution. See Utah Code 7-1-103
• Supervisory acquisition: means the acquisition of control, the acquisition of all or a portion of the assets, or the assumption of all or a portion of the liabilities, pursuant to Section 7-2-1, 7-2-12, or 7-2-18, of a failing or failed depository institution or a failing or failed depository institution holding company, whether or not in the possession of the commissioner, by:
       (3)(a) a Utah depository institution;
       (3)(b) an out-of-state depository institution;
       (3)(c) a Utah depository institution holding company; or
       (3)(d) an out-of-state depository institution holding company. See Utah Code 7-19-1
• Supervisory merger: means the merger or consolidation, pursuant to Section 7-2-1, 7-2-12, or 7-2-18 of a failing or failed depository institution or a failing or failed depository institution holding company, whether or not in the possession of the commissioner, with:
       (4)(a) a Utah depository institution;
       (4)(b) an out-of-state depository institution;
       (4)(c) a Utah depository institution holding company; or
       (4)(d) an out-of-state depository institution holding company. See Utah Code 7-19-1
• Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• 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.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• 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.
• Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Utah Code: means the 1953 recodification of the Utah Code, as amended, unless the text expressly references a portion of the 1953 recodification of the Utah Code as it existed:
       (42)(a) on the day on which the 1953 recodification of the Utah Code was enacted; or
       (42)(b)

            (42)(b)(i) after the day described in Subsection (42)(a); and

            (42)(b)(ii) before the most recent amendment to the referenced portion of the 1953 recodification of the Utah Code. See Utah Code 68-3-12.5
• Utah depository institution: means a depository institution whose home state is Utah. See Utah Code 7-1-103
• Utah depository institution holding company: means a depository institution holding company whose home state is Utah. See Utah Code 7-1-103
• 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