63N-4-402. Definitions. As used in this part:
(1) |
Terms Used In Utah Code 63N-4-402- 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.
- Grant: means a grant awarded as part of the Rural Employment Expansion Grant Program created in Section 63N-4-403. See Utah Code 63N-4-402
- Grant program: means the Rural Employment Expansion Grant Program created in Section 63N-4-403. See Utah Code 63N-4-402
- Mining company: means an entity whose primary business is the exploration for or extraction of minerals from the earth. See Utah Code 63N-4-402
- 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 :Utah Code 68-3-12.5
(a) |
“Business entity” means a sole proprietorship, partnership, association, joint venture, corporation, firm, trust, foundation, or other organization or entity used in carrying on a business. |
(b) |
“Business entity” does not include a business primarily engaged in the following:
(iv) |
public utility activities. |
|
|
(2) |
“Grant” means a grant awarded as part of the Rural Employment Expansion Grant Program created in Section 63N-4-403. |
(3) |
“Grant program” means the Rural Employment Expansion Grant Program created in Section 63N-4-403. |
(4) |
“Mining company” means an entity whose primary business is the exploration for or extraction of minerals from the earth. |
(5) |
“Mining services company” means an entity whose primary business is providing support services for a mining company, including drilling or geological modeling. |
(6) |
(a) |
“Owner or officer” means an individual who owns an ownership interest in an entity or holds a position where the person has authority to manage, direct, control, or make decisions for:
(i) |
the entity or a portion of the entity; or |
(ii) |
an employee, agent, or independent contractor of the entity. |
|
(b) |
“Owner or officer” includes:
(i) |
a member of a board of directors or other governing body of an entity; or |
(ii) |
a partner in any type of partnership. |
|
|
(7) |
“Rural county” means a county of the third, fourth, fifth, or sixth class. |
Amended by Chapter 362, 2022 General Session