As used in this chapter:
| (1) |
“Beneficiary” means a person holding a certificate representing a beneficial interest in the trust estate and assets. |
Terms Used In Utah Code 16-15-102
- 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.
- Division: means the Division of Corporations and Commercial Code. See Utah Code 16-15-102
- 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.
- Person: means an individual, general partnership, limited liability partnership, limited partnership, limited liability company, limited association, domestic or foreign trust, estate, association, or corporation. See Utah Code 16-15-102
| (2) |
“Business trust” has the same meaning as in Section 7-5-1. |
| (3) |
“Division” means the Division of Corporations and Commercial Code. |
| (4) |
“Person” means an individual, general partnership, limited liability partnership, limited partnership, limited liability company, limited association, domestic or foreign trust, estate, association, or corporation. |
Enacted by Chapter 310, 1995 General Session
