Terms Used In Utah Code 7-22-102

• Department: means the Department of Financial Institutions. See Utah Code 7-1-103
• Escrow: means an agreement, express or implied, that provides for one or more parties to deliver or entrust money, a certificate of deposit, a security, a negotiable instrument, a deed, or other property or asset to another person to be held, paid, or delivered in accordance with terms and conditions prescribed in the agreement. See Utah Code 7-22-101
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Person: means :

  (a)	an individual;

  (b)	a corporation;

  (c)	a limited liability company;

  (d)	a partnership;

  (e)

  a trust;

  (f)	an association;

  (g)	a joint venture;

  (h)

  a pool;

  (i)	a syndicate;

  (j)	a sole proprietorship;

  (k)	an unincorporated organization; or

  (l)

  any form of business entity. See Utah Code 7-1-103      Without prior authorization by the department, no person may perform escrow services, offer to perform escrow services, advertise that it performs escrow services, use the word “escrow” in a business name, or do any other thing that might reasonably cause anyone to believe that the person performs escrow services. Enacted by Chapter 133, 1991 General Session   Previous section Next section    Chapter 22 Contents