Terms Used In Utah Code 77-11b-304

• Forfeit: means to divest a claimant of an ownership interest in property seized under Section 77-11a-201. See Utah Code 77-11b-101
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}