“Conditional gift” means a gift as defined in Subsection (4) that is subject to conditions:
Terms Used In Utah Code 53B-1-201
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.
Foreign government: means a government other than the government of:
(a)
the United States;
(b)
a state within the United States;
(c)
a territory or possession of the United States; or
an individual who is not a citizen or national of the United States or of a territory or protectorate of the United States;
(c)
a corporation, partnership, joint venture, proprietorship, trust, association, or other entity that is created or organized under the laws of a foreign government or that has its principal place of business located outside the United States;
(d)
if known by the higher education institution, a corporation, partnership, joint venture, proprietorship, trust, association, or other entity that is created or organized pursuant to the laws of the United States or a state within the United States, if a majority of the stock or other equity interest is directly or indirectly owned by, or which derives a majority of its funding from:
(i)
a foreign government;
(ii)
an individual described in Subsection (3)(b); or
(iii)
an entity described in Subsection (3)(c) or (d); or
(e)
if known by the higher education institution, a committee or other group in which a majority of the membership is composed of:
Gift: means an endowment, scholarship, gift, donation, or grant of money or property of any kind. See Utah Code 53B-1-201
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Higher education institution: means an institution in the state system of higher education as defined in Section 53B-1-102. See Utah Code 53B-1-201
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
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
United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
(a)
imposed, requested, or provided by a foreign government or foreign person; and
(b)
that relate to:
(i)
what kinds of teachers or students may benefit from the gift; or
(ii)
a description of the subject matter to be taught with the support of the gift.
(2)
“Foreign government” means a government other than the government of:
(a)
the United States;
(b)
a state within the United States;
(c)
a territory or possession of the United States; or
(d)
a political subdivision of the United States.
(3)
“Foreign person” means:
(a)
a foreign government defined in Subsection (2);
(b)
an individual who is not a citizen or national of the United States or of a territory or protectorate of the United States;
(c)
a corporation, partnership, joint venture, proprietorship, trust, association, or other entity that is created or organized under the laws of a foreign government or that has its principal place of business located outside the United States;
(d)
if known by the higher education institution, a corporation, partnership, joint venture, proprietorship, trust, association, or other entity that is created or organized pursuant to the laws of the United States or a state within the United States, if a majority of the stock or other equity interest is directly or indirectly owned by, or which derives a majority of its funding from:
(i)
a foreign government;
(ii)
an individual described in Subsection (3)(b); or
(iii)
an entity described in Subsection (3)(c) or (d); or
(e)
if known by the higher education institution, a committee or other group in which a majority of the membership is composed of:
(i)
a foreign government;
(ii)
an individual described in Subsection (3)(b); or
(iii)
an entity described in Subsection (3)(c) or (d).
(4)
“Gift” means an endowment, scholarship, gift, donation, or grant of money or property of any kind.
(5)
“Higher education institution” means an institution in the state system of higher education as defined in Section 53B-1-102.
(6)
“Restricted foreign entity” means:
(a)
a company that the United States Secretary of Defense is required to list as a military company under the requirements of federal national defense authorization acts;
(b)
any affiliate of a company described in Subsection (6)(a);
(c)
the country with a commercial or defense industrial base of which a company described in Subsection (6)(a) is a part; or
(d)
any subsidiary of a company described in Subsection (6)(a) or a country described in Subsection (6)(c).
