Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Antique shop: means a business operating at an established location that deals primarily in the purchase, exchange, or sale of antique items. See Utah Code 13-32a-102
Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
Award: means a final order of the commission as to the amount of compensation due:
Board: means the Pawnshop and Secondhand Merchandise Advisory Board created by this chapter. See Utah Code 13-32a-102
Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
City: means a municipality that is classified by population as a city of the first class, a city of the second class, a city of the third class, a city of the fourth class, or a city of the fifth class, under Section 10-2-301. See Utah Code 10-1-104
Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Identification: means any of the following non-expired forms of identification issued by a state government, the United States government, or a federally recognized Indian tribe, if the identification includes a unique number, photograph of the bearer, and date of birth:
a United States Passport or United States Passport Card;
a state-issued driver license;
a state-issued identification card;
a state-issued concealed carry permit;
a United States military identification;
a United States resident alien card;
an identification of a federally recognized Indian tribe; or
Impairment: is a purely medical condition reflecting an anatomical or functional abnormality or loss. See Utah Code 34A-2-102
Indicia of being new: means property that:
is represented by the individual pawning or selling the property as new;
is unopened in the original packaging; or
possesses other distinguishing characteristics that indicate the property is new. See Utah Code 13-32a-102
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
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Lien: A claim against real or personal property in satisfaction of a debt.
Local law enforcement agency: means the law enforcement agency that has direct responsibility for ensuring compliance with central database reporting requirements for the jurisdiction where the pawn or secondhand business is located. See Utah Code 13-32a-102
a metro township as that term is defined in Section 10-2a-403 unless the term is used in the context of authorizing, governing, or otherwise regulating the provision of municipal services. See Utah Code 10-1-104
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.
Order: means an action of the commission that determines the legal rights, duties, privileges, immunities, or other interests of one or more specific persons, but not a class of persons. See Utah Code 34A-2-102
Original victim: means a victim who is not a party to the pawn or sale transaction and includes:
an authorized representative designated in writing by the original victim; and
an insurer who has indemnified the original victim for the loss of the described property. See Utah Code 13-32a-102
Pawn or secondhand business: means a business operated by a pawnbroker or secondhand merchandise dealer, or the owner or operator of the business. See Utah Code 13-32a-102
Pawn transaction: means :
an extension of credit in which an individual delivers property to a pawnbroker for an advance of money and retains the right to redeem the property for the redemption price within a fixed period of time;
a loan of money on one or more deposits of personal property;
the purchase, exchange, or possession of personal property on condition of selling the same property back again to the pledgor or depositor; or
a loan or advance of money on personal property by the pawnbroker taking chattel mortgage security on the personal property, taking or receiving the personal property into the pawnbroker's possession, and selling the unredeemed pledges. See Utah Code 13-32a-102
Pawnbroker: means a person whose business:
engages in a pawn transaction; or
holds itself out as being in the business of a pawnbroker or pawnshop, regardless of whether the person or business enters into pawn transactions or secondhand merchandise transactions. See Utah Code 13-32a-102
Pawnshop: means the physical location or premises where a pawnbroker conducts business. See Utah Code 13-32a-102
Person: means an individual, corporation, partnership, organization, association, trust, governmental agency, or any other legal entity. See Utah Code 10-1-104
Property: means an article of tangible personal property, numismatic item, precious metal, gift card, transaction card, or other physical or digital card or certificate evidencing store credit. See Utah Code 13-32a-102
Quorum: The number of legislators that must be present to do business.
Secondhand merchandise transaction: means the purchase or exchange of used or secondhand property. See Utah Code 13-32a-102
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5
Statute: A law passed by a legislature.
Testimony: Evidence presented orally by witnesses during trials or before grand juries.
Ticket: means a document upon which information is entered when a pawn transaction or secondhand merchandise transaction is made. See Utah Code 13-32a-102
Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
Trustee: A person or institution holding and administering property in trust.
Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
Utah Code: means the 1953 recodification of the Utah Code, as amended, unless the text expressly references a portion of the 1953 recodification of the Utah Code as it existed:Utah Code 68-3-12.5
Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
Vessel: when used with reference to shipping, includes a steamboat, canal boat, and every structure adapted to be navigated from place to place. See Utah Code 68-3-12.5