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Terms Used In Utah Code 38-5-2
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
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.
Lien: A claim against real or personal property in satisfaction of a debt.
“Mutual benefit corporation” is defined in Section 16-6a-102.
(c)
“Water rights and related assets” is defined in Section 16-6a-119.
(2)
A judicial lien recorded on or after May 12, 2009 against the water rights and related assets of a mutual benefit corporation is subject to Section 16-6a-119.
