Utah Code > Title 53B > Chapter 7 > Part 8 – Higher Education Student Success Endowment
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Terms Used In Utah Code > Title 53B > Chapter 7 > Part 8 - Higher Education Student Success Endowment
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authority: means the Utah Higher Education Assistance Authority. See Utah Code 53B-7-801
- Bequest: Property gifted by will.
- Board: means the Utah Board of Higher Education described in Section 53B-1-402. See Utah Code 53B-1-101.5
- Devise: To gift property by will.
- Endowment: means the Higher Education Student Success Endowment created in Section 53B-7-802. See Utah Code 53B-7-801
- Fiduciary: A trustee, executor, or administrator.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
- Person: means :Utah Code 68-3-12.5
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- 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
- Trustee: A person or institution holding and administering property in trust.