Terms Used In Utah Code 70A-8-407

• 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.
• Person: means :Utah Code 68-3-12.5
• Security: except as otherwise provided in Section 70A-8-102, means an obligation of an issuer or a share, participation, or other interest in an issuer or in property or an enterprise of an issuer that:

  (i)	is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;

  (ii)	is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests, or obligations; and

  (iii)

  (A)  is, or is of a type, dealt in or traded on securities exchanges or securities markets; or (B)  is a medium for investment and by its terms expressly provides that it is a security governed by this chapter. See Utah Code 70A-8-101 Trustee: A person or institution holding and administering property in trust. Uncertificated security: means a security that is not represented by a certificate. See Utah Code 70A-8-101      A person acting as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration of a transfer of its securities, in the issue of new security certificates or uncertificated securities, or in the cancellation of surrendered security certificates has the same obligation to the holder or owner of a certificated or uncertificated security with regard to the particular functions performed as the issuer has in regard to those functions. Repealed and Re-enacted by Chapter 204, 1996 General Session   Previous section Next section    Part 4 Contents