Terms Used In Utah Code > Title 11 > Chapter 58 > Part 6 - Property Tax Differential

• Address: includes :

  (i)	a post office box number;

  (ii)	a rural free delivery route number; and

  (iii)

  a street name and number. See Utah Code 16-10a-102 Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5 Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths. Affiliate: means the same as that term is defined in Section 16-10a-102. See Utah Code 16-10a-1802 Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court. 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. Announcement date: when used in reference to a business combination, means the date of the first public announcement of the final, definitive proposal for the business combination. See Utah Code 16-10a-1802 Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year. Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense. 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. Appraisal: A determination of property value. Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization Armed forces: means the United States Army, Navy, Air Force, Marine Corps, Space Force, and Coast Guard. See Utah Code 68-3-12.5 Articles of incorporation: include : (a)  amended and restated articles of incorporation; (b)  articles of merger; and (c)  a document of a similar import to those described in Subsections (4)(a) and (b). See Utah Code 16-10a-102 Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account. Associate: when used to indicate a relationship with a person, means: (a)  a corporation or organization of which the person is an officer or partner or is, directly or indirectly, the beneficial owner of 10% or more of any class of voting stock; (b)  a trust or other estate in which the person has a substantial beneficial interest or as to which the person serves as trustee or in a similar fiduciary capacity; and (c)  a relative or spouse of the person, or any relative of the spouse, who has the same home as the person. See Utah Code 16-10a-1802 Assumed corporate name: means a name assumed for use in this state by a foreign corporation pursuant to Section 16-10a-1506 because its corporate name is not available for use in this state. See Utah Code 16-10a-102 Attachment: A procedure by which a person's property is seized to pay judgments levied by the court. Authority: means the Utah Inland Port Authority, created in Section 11-58-201. See Utah Code 11-58-102 Authority jurisdictional land: means land within the authority boundary delineated: (a)  in the electronic shapefile that is the electronic component of H. See Utah Code 11-58-102 Beneficial owner: when used with respect to stock, means a person: (a)  that, individually or with or through any of its affiliates or associates, beneficially owns the stock, directly or indirectly; (b)  that, individually or with or through any of its affiliates or associates, has: (i)  the right to acquire the stock: (A)  whether the right is exercisable immediately or only after the passage of time, pursuant to an agreement, arrangement, or understanding, whether or not in writing; or (B)  upon the exercise of conversion rights, exchange rights, warrants, or options, or otherwise, except that a person may not be considered the beneficial owner of stock tendered pursuant to a tender or exchange offer made by the person or an affiliate or associate of the person until the tendered stock is accepted for purchase or exchange; or (ii)  the right to vote the stock pursuant to an agreement, arrangement, or understanding, whether or not in writing, except that a person may not be considered the beneficial owner of any stock under this Subsection (4)(b)(ii) if the agreement, arrangement, or understanding to vote the stock arises solely from a revocable proxy or consent given in response to a proxy or consent solicitation made in accordance with the applicable regulations under the Exchange Act and is not then reportable on a Schedule 13D under the Exchange Act, or any comparable or successor report; or (c)  that has an agreement, arrangement, or understanding, whether or not in writing, for the purpose of acquiring, holding, voting, except voting pursuant to a revocable proxy or consent as described in Subsection (4)(b)(ii), or disposing of the stock with any other person that beneficially owns, or whose affiliates or associates beneficially own, directly or indirectly, the stock. See Utah Code 16-10a-1802 Board: means the authority's governing body, created in Section 11-58-301. See Utah Code 11-58-102 Business combination: when used in reference to any domestic corporation and an interested shareholder of the corporation, means: (a)  a merger or consolidation of the corporation or any subsidiary of the corporation with: (i)  the interested shareholder; or (ii)  any other corporation, whether or not that corporation is an interested shareholder of the corporation, that is, or after the merger or consolidation would be, an affiliate or associate of the interested shareholder; (b)  any sale, lease, exchange, mortgage, pledge, transfer, or other disposition, in one transaction or a series of transactions, to or with the interested shareholder or any affiliate or associate of the interested shareholder of assets of the corporation or any subsidiary of the corporation: (i)  having an aggregate market value equal to 10% or more of the aggregate market value of all the assets, determined on a consolidated basis, of the corporation; (ii)  having an aggregate market value equal to 10% or more of the aggregate market value of all the outstanding stock of the corporation; or (iii)  representing 10% or more of the earning power or net income, determined on a consolidated basis, of the corporation; (c)  the issuance or transfer by the corporation or any subsidiary of the corporation, in one transaction or a series of transactions, of any stock of the corporation or any subsidiary of the corporation that has an aggregate market value equal to 5% or more of the aggregate market value of all the outstanding stock of the corporation to the interested shareholder or any affiliate or associate of the interested shareholder except pursuant to the exercise of warrants or rights to purchase stock offered, or a dividend or distribution paid or made, pro rata to all shareholders of the corporation; (d)  the adoption of any plan or proposal for the liquidation or dissolution of the corporation proposed by, or pursuant to any agreement, arrangement, or understanding, whether or not in writing, with, the interested shareholder or any affiliate or associate of the interested shareholder; (e)  any reclassification of securities, including a stock split, stock dividend, or other distribution of stock in respect of stock, or any reverse stock split, or recapitalization of the corporation, or any merger or consolidation of the corporation with any subsidiary of the corporation, or any other transaction, whether or not with, into, or otherwise involving the interested shareholder: (i)  proposed by, or pursuant to any agreement, arrangement, or understanding, whether or not in writing, with, the interested shareholder or any affiliate or associate of the interested shareholder; and (ii)  that has the effect, directly or indirectly, of increasing the proportionate share of the outstanding shares of any class or series of voting stock or securities convertible into voting stock of the corporation or any subsidiary of the corporation that is directly or indirectly owned by the interested shareholder or any affiliate or associate of the interested shareholder, except as a result of immaterial changes due to fractional share adjustments; or (f)  a receipt by the interested shareholder or an affiliate or associate of the interested shareholder of the benefit, directly or indirectly, except proportionately as a shareholder of the corporation, of a loan, advance, guarantee, pledge, or other financial assistance or any tax credit or other tax advantage provided by or through the corporation. See Utah Code 16-10a-1802 Bylaws: includes amended bylaws and restated bylaws. See Utah Code 16-10a-102 Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action. Common stock: means stock other than preferred stock. See Utah Code 16-10a-1802 Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. Contaminated land: means land: (a)  within a project area; and (b)  that contains hazardous materials, as defined in Section 19-6-302, hazardous substances, as defined in Section 19-6-302, or landfill material on, in, or under the land. See Utah Code 11-58-102 Contract: A legal written agreement that becomes binding when signed. Corporate name: means : (a)  the name of a domestic corporation or a domestic nonprofit corporation as stated in its articles of incorporation; or (b)  the name of a foreign corporation or a foreign nonprofit corporation as stated in its articles of incorporation or document of similar import. See Utah Code 16-10a-102 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. Counterclaim: A claim that a defendant makes against a plaintiff. County legislative body: means :Utah Code 68-3-12.5 Custodial responsibility: includes all powers and duties relating to caretaking authority and decision-making authority for a child. See Utah Code 30-3-10.1 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. Deliver: includes delivery by mail or another means of transmission authorized by Section 16-10a-103, except that delivery to the division means actual receipt by the division. See Utah Code 16-10a-102 Dependent: A person dependent for support upon another. Development: means : (a)  the demolition, construction, reconstruction, modification, expansion, or improvement of a building, utility, infrastructure, landscape, parking lot, park, trail, recreational amenity, or other facility, including public infrastructure and improvements; and (b)  the planning of, arranging for, or participation in any of the activities listed in Subsection (7)(a). See Utah Code 11-58-102 Development project: means a project for the development of land within a project area. See Utah Code 11-58-102 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Distribution: means the following by a corporation to or for the benefit of its shareholders in respect of any of the corporation's shares: (i)  a direct or indirect transfer of money or other property, other than a corporation's own shares; or (ii)  incurrence of indebtedness by the corporation. See Utah Code 16-10a-102 Division: means the Division of Corporations and Commercial Code. See Utah Code 16-10a-102 Docket: A log containing brief entries of court proceedings. domestic corporation: means a corporation for profit that: (a)  is not a foreign corporation; and (b)  is incorporated under or subject to this chapter. See Utah Code 16-10a-102 Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs. Entity: includes : (a)  a domestic and foreign corporation; (b)  a nonprofit corporation; (c)  a limited liability company; (d)  a profit or nonprofit unincorporated association; (e)  a business trust; (f)  an estate; (g)  a partnership; (h)  a trust; (i)  two or more persons having a joint or common economic interest; (j)  a state; (k)  the United States; and (l)  a foreign government. See Utah Code 16-10a-102 Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts 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. Exchange Act: means the Securities Exchange Act of 1934, 15 U. See Utah Code 16-10a-1802 Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller. 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. Foreign corporation: means a corporation for profit incorporated under a law other than the law of this state. See Utah Code 16-10a-102 Fraud: Intentional deception resulting in injury to another. Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs. Guardian: includes a person who:Utah Code 68-3-12.5 Individual: means : (a)  a natural person; (b)  the estate of an incompetent individual; or (c)  the estate of a deceased individual. See Utah Code 16-10a-102 Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury. Interested shareholder: when used in reference to a domestic corporation, means a person, other than the corporation or a subsidiary of the corporation, that: (i)  is the beneficial owner, directly or indirectly, of 20% or more of the outstanding voting stock of the corporation; or (ii)  is an affiliate or associate of the corporation and at any time within the five-year period immediately before the date in question was the beneficial owner, directly or indirectly, of 20% or more of the then outstanding voting stock of the corporation. See Utah Code 16-10a-1802 Intermodal facility: means a facility for transferring containerized cargo between rail, truck, air, or other transportation modes. See Utah Code 11-58-102 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 :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 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. 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. mailing: means deposit, deposited, or depositing in the United States mail, properly addressed, first class postage prepaid, and includes registered or certified mail for which the proper fee is paid. See Utah Code 16-10a-102 Market value: when used in reference to stock or property of a domestic corporation, means: (a)  in the case of stock: (i)  the highest closing sale price during the 30-day period immediately preceding the date in question of a share of the stock on the composite tape for New York stock exchange-listed stocks; (ii)  if the stock is not quoted on the composite tape or listed on the exchange described in Subsection (11)(a)(i), the highest closing sale price during the 30-day period immediately preceding the date in question on the principal United States securities exchange registered under the Exchange Act on which the stock is listed; or (iii)  if no quotation is available under Subsection (11)(a)(i) or (ii), the fair market value on the date in question of a share of the stock as determined by the board of directors of the corporation in good faith; and (b)  in the case of property other than cash or stock, the fair market value of the property on the date in question as determined by the board of directors of the corporation in good faith. See Utah Code 16-10a-1802 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. Mortgagee: The person to whom property is mortgaged and who has loaned the money. Notice: is a s provided in Section 16-10a-103. See Utah Code 16-10a-102 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. Oppressive conduct: means a continuing course of conduct, a significant action, or a series of actions that substantially interferes with the interests of a shareholder as a shareholder. See Utah Code 16-10a-1901 Person: means :Utah Code 68-3-12.5 Personal property: includes :Utah Code 68-3-12.5 Personal property: All property that is not real property. Plaintiff: The person who files the complaint in a civil lawsuit. Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer. Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way. Preferred stock: means a class or series of stock of a domestic corporation that under the bylaws or articles of incorporation of the corporation: (a)  is entitled to receive payment of dividends before any payment of dividends on some other class or series of stock; or (b)  is entitled in the event of a voluntary liquidation, dissolution, or winding up of the corporation to receive payment or distribution of a preferential amount before a payment or distribution is received by some other class or series of stock. See Utah Code 16-10a-1802 Principal office: means the office, in or out of this state, designated by a domestic or foreign corporation as its principal office in the most recent document on file with the division providing the information, including: (a)  an annual report; (b)  an application for a certificate of authority; or (c)  a notice of change of principal office. See Utah Code 16-10a-102 Proceeding: includes : (a)  a civil suit; (b)  arbitration or mediation; and (c)  a criminal, administrative, or investigatory action. See Utah Code 16-10a-102 Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5 Project area: means : (a)  the authority jurisdictional land, subject to Section 11-58-605; or (b)  land outside the authority jurisdictional land, whether consisting of a single contiguous area or multiple noncontiguous areas, described in a project area plan or draft project area plan, where the development project set forth in the project area plan or draft project area plan takes place or is proposed to take place. See Utah Code 11-58-102 Property: includes both real and personal property. See Utah Code 68-3-12.5 Property tax: includes a privilege tax and each levy on an ad valorem basis on tangible or intangible personal or real property. See Utah Code 11-58-102 Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government. Public infrastructure and improvements: includes : (i)  facilities, lines, or systems that provide: (A)  water, chilled water, or steam; or (B)  sewer, storm drainage, natural gas, electricity, energy storage, renewable energy, microgrids, or telecommunications service; (ii)  streets, roads, curb, gutter, sidewalk, walkways, solid waste facilities, parking facilities, rail lines, intermodal facilities, multimodal facilities, and public transportation facilities; (iii)  an inland port; and (iv)  infrastructure, improvements, facilities, or buildings that are developed as part of a remediation project. See Utah Code 11-58-102 Receive: when used in reference to receipt of a writing or other document by a domestic or foreign corporation, means the writing or other document is actually received by: (a)  the corporation at its: (i)  registered office in this state; or (ii)  principal office; (b)  the secretary of the corporation, wherever the secretary is found; or (c)  another person authorized by the bylaws or the board of directors to receive the writing or other document, wherever that person is found. See Utah Code 16-10a-102 Record date: means the date established under 6, or 7, on which a corporation determines the identity of its shareholders. See Utah Code 16-10a-102 Registered office: means the office within this state designated by a domestic or foreign corporation as its registered office in the most recent document on file with the division providing that information, including: (a)  articles of incorporation; (b)  an application for a certificate of authority; or (c)  a notice of change of registered office. See Utah Code 16-10a-102 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. Remediation: includes : (a)  activities for the cleanup, rehabilitation, and development of contaminated land; and (b)  acquiring an interest in land within a remediation project area. See Utah Code 11-58-102 Remediation differential: means property tax differential generated from a remediation project area. See Utah Code 11-58-102 Remediation project: means a project for the remediation of contaminated land that: (a)  is owned by: (i)  the state or a department, division, or other instrumentality of the state; (ii)  an independent entity, as defined in Section 63E-1-102; or (iii)  a political subdivision of the state; and (b)  became contaminated land before the owner described in Subsection (24)(a) obtained ownership of the land. See Utah Code 11-58-102 Remediation project area: means a project area consisting of contaminated land that is or is expected to become the subject of a remediation project. See Utah Code 11-58-102 Service member: means a member of a uniformed service. See Utah Code 30-3-10.1 Service of process: The service of writs or summonses to the appropriate party. Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. Share: means the unit into which the proprietary interests in a corporation are divided. See Utah Code 16-10a-102 Shareholder: means : (i)  the person in whose name a share is registered in the records of a corporation; or (ii)  the beneficial owner of a share to the extent recognized pursuant to Section 16-10a-723. See Utah Code 16-10a-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 Statute: A law passed by a legislature. Statute of limitations: A law that sets the time within which parties must take action to enforce their rights. Stock: means : (a)  a stock or similar security, a certificate of interest, any participation in a profit sharing agreement, a voting trust certificate, or a certificate of deposit for stock; (b)  a security convertible, with or without consideration, into stock; (c)  a warrant, call, or other option or privilege of buying stock without being bound to do so; or (d)  any other security carrying a right to acquire, subscribe to, or purchase stock. See Utah Code 16-10a-1802 Summons: Another word for subpoena used by the criminal justice system. Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held. Testimony: Evidence presented orally by witnesses during trials or before grand juries. Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident. 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. Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence. Tribal corporation: means a corporation: (a)  incorporated under the law of a tribe; and (b)  that is at least 51% owned or controlled by the tribe. See Utah Code 16-10a-102 Trustee: A person or institution holding and administering property in trust. Uniformed service: means :Utah Code 30-3-10.1 United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Voting group: means all shares of one or more classes or series that under the articles of incorporation or this chapter are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Utah Code 16-10a-102 Voting stock: means shares of capital stock of a corporation entitled to vote generally in the election of directors. See Utah Code 16-10a-1802 Writing: includes :Utah Code 68-3-12.5