Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
Applicable agency: means a department or agency of the state, including the department and the Department of Financial Institutions, that by law regulates certain types of business activity in the state and persons engaged in such business activity, including the issuance of licenses or other types of authorization, which the department determines would otherwise regulate a sandbox participant. See Utah Code 13-55-102
Applicant: means an individual or entity that is applying to participate in the regulatory sandbox. See Utah Code 13-55-102
Authorized service center: means an entity that:
is in the business of repairing exclusively the motor vehicles of the same line-make as the motor vehicles a single direct-sale manufacturer manufactures;
the direct-sale manufacturer described in Subsection (4)(a) authorizes to complete warranty repair work for motor vehicles that the direct-sale manufacturer sells, displays for sale, or offers for sale or exchange; and
conducts business primarily from an enclosed commercial repair facility that is permanently located in the state. See Utah Code 41-3-102
Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
Blockchain technology: means the use of a digital database containing records of financial transactions, which can be simultaneously used and shared within a decentralized, publicly accessible network and can record transactions between two parties in a verifiable and permanent way. See Utah Code 13-55-102
Body shop: means a person engaged in rebuilding, restoring, repairing, or painting the body of motor vehicles for compensation. See Utah Code 41-3-102
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
Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
Consumer: means a person that purchases or otherwise enters into a transaction or agreement to receive an innovative product or service that is being tested by a sandbox participant. See Utah Code 13-55-102
Contract: A legal written agreement that becomes binding when signed.
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.
County: means a unit of local government that is a body corporate and politic and a legal subdivision of the state, with geographic boundaries as described in Section 17-50-104, and powers as provided in Part 3, County Powers. See Utah Code 17-50-101
Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
Dealer: means a person engaged or licensed to engage in the business of buying, selling, or exchanging new or used vehicles, vessels, or outboard motors either outright or on conditional sale, bailment, lease, chattel mortgage, or otherwise or who has an established place of business for the sale, lease, trade, or display of vehicles, vessels, or outboard motors. See Utah Code 41-1a-102
Deed: The legal instrument used to transfer title in real property from one person to another.
that, in this state, sells, displays for sale, or offers for sale or exchange only new motor vehicles of the person's own line-make that are:
exclusively propelled through the use of electricity, a hydrogen fuel cell, or another non-fossil fuel source;
passenger vehicles with a gross vehicle weight rating of 14,000 pounds or less; or
trucks with a gross vehicle weight rating of 14,000 pounds or less; and
manufactured by the person;
that is not a franchise holder;
that is domiciled in the United States; and
whose chief officers direct, control, and coordinate the person's activities as a direct-sale manufacturer from a physical location in the United States. See Utah Code 41-3-102
Direct-sale manufacturer salesperson: means an individual who for a salary, commission, or compensation of any kind, is employed either directly, indirectly, regularly, or occasionally by a direct-sale manufacturer to sell, purchase, or exchange or to negotiate for the sale, purchase, or exchange of a motor vehicle manufactured by the direct-sale manufacturer who employs the individual. See Utah Code 41-3-102
Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
Dismantler: includes a person who dismantles three or more motor vehicles in any 12-month period. See Utah Code 41-3-102
Distributor: means a person who has a franchise from a manufacturer of motor vehicles to distribute motor vehicles within this state and who in whole or in part sells or distributes new motor vehicles to dealers or who maintains distributor representatives. See Utah Code 41-3-102
Distributor branch: means a branch office similarly maintained by a distributor for the same purposes a factory branch is maintained. See Utah Code 41-3-102
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Executive: when used to describe the powers, duties, or functions of a person or body elected as the county executive or a person appointed as the county manager or administrative officer, refers to:
the power and duty to carry laws and ordinances into effect and secure their due observance; and
those powers, duties, and functions that, under constitutional and statutory provisions and through long usage and accepted practice and custom at the federal and state level, have come to be regarded as belonging to the executive branch of government. See Utah Code 17-50-101
Factory branch: means a branch office maintained by a person who manufactures or assembles motor vehicles for sale to distributors, motor vehicle dealers, or who directs or supervises the factory branch's representatives. See Utah Code 41-3-102
Felony: A crime carrying a penalty of more than a year in prison.
Financial product or service: means :
a financial product or financial service that requires state licensure or registration; or
a financial product or financial service that includes a business model, delivery mechanism, or element that may require a license or other authorization to act as a financial institution, enterprise, or other entity that is regulated by Title 7, Financial Institutions Act, or other related provisions. See Utah Code 13-55-102
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
You are late making a payment or commit some other default, triggering an increase to a penalty rate
The bank changes the terms of your account and you do not reject the change.
The rate expires (if the rate was fixed for only a certain period of time).
Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
Franchise: means a contract or agreement between a dealer and a manufacturer of new motor vehicles or a manufacturer's distributor or factory branch by which the dealer is authorized to sell any specified make or makes of new motor vehicles. See Utah Code 41-3-102
Franchise holder: means a manufacturer who:
previously had a franchised dealer in the United States;
currently has a franchised dealer in the United States;
is a successor to another manufacturer who previously had or currently has a franchised dealer in the United States;
is a material owner of another manufacturer who previously had or currently has a franchised dealer in the United States;
is under legal or common ownership, or practical control, with another manufacturer who previously had or currently has a franchised dealer in the United States; or
is in a partnership, joint venture, or similar arrangement for production of a commonly owned line-make with another manufacturer who previously had or currently has a franchised dealer in the United States. See Utah Code 41-3-102
Fraud: Intentional deception resulting in injury to another.
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Innovation: means the use or incorporation of a new or emerging technology or a new use of existing technology, including blockchain technology, to address a problem, provide a benefit, or otherwise offer a product, service, business model, or delivery mechanism that is not known by the department to have a comparable widespread offering in the state. See Utah Code 13-55-102
Innovative product or service: means a financial product or service that includes an innovation. See Utah Code 13-55-102
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
Jurisdiction: means a state, district, province, political subdivision, territory, or possession of the United States or any foreign country. See Utah Code 41-1a-102
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
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
Legislative: when used to describe the powers, duties, or functions of a county commission or council, refers to:
the power and duty to enact ordinances, levy taxes, and establish budgets; and
those powers, duties, and functions that, under constitutional and statutory provisions and through long usage and accepted practice and custom at the federal and state level, have come to be regarded as belonging to the legislative branch of government. See Utah Code 17-50-101
Lien: A claim against real or personal property in satisfaction of a debt.
Line-make: means motor vehicles that are offered for sale, lease, or distribution under a common name, trademark, service mark, or brand name of the manufacturer. See Utah Code 41-3-102
Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
Manufacturer: means a person engaged in the business of constructing or assembling new motor vehicles, ownership of which is customarily transferred by a manufacturer's statement or certificate of origin, or a person who constructs three or more new motor vehicles in any 12-month period. See Utah Code 41-3-102
Manufacturer: means a person engaged in the business of constructing, manufacturing, assembling, producing, or importing new or unused vehicles, vessels, or outboard motors for the purpose of sale or trade. See Utah Code 41-1a-102
Material owner: means a person who possesses, directly or indirectly, the power to direct, or cause the direction of, the management, policies, or activities of another person:
Motor vehicle: means a self-propelled vehicle intended primarily for use and operation on the highways. See Utah Code 41-1a-102
New motor vehicle: means a motor vehicle that:
has never been titled or registered; and
for a motor vehicle that is not a trailer, travel trailer, or semitrailer, has been driven less than 7,500 miles. See Utah Code 41-3-102
Notice: includes all papers and orders, except process, required to be served in any proceeding before any court, board, commission or officer, or when required by law to be served independently of such proceedings. See Utah Code 17-22-1
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.
a person having all the incidents of ownership of a motor vehicle, including legal title to the motor vehicle;
a person entitled to possession of a motor vehicle as the purchaser under a security agreement; or
a person entitled to possession of a motor vehicle as a lessee under a written lease agreement if the lease agreement is intended to last for more than three months at its inception. See Utah Code 41-1a-1502
Participant: means an individual who:
resides at a residential, vocational and life skills program facility;
receives from the residential, vocational and life skills program:
vocational training; or
life skills training; and
does not receive monetary compensation from the residential, vocational and life skills program. See Utah Code 13-53-102
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.
Pawnbroker: means a person whose business is to lend money on security of personal property deposited with him. See Utah Code 41-3-102
Personal information: means a record or other compilation of data that identifies a person as a donor to an entity exempt from federal income tax under Section 501(c) of the Internal Revenue Code. See Utah Code 63G-26-102
Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
Principal place of business: means a site or location in this state:
devoted exclusively to the business for which the dealer, manufacturer, remanufacturer, transporter, dismantler, crusher, or body shop is licensed, and businesses incidental to them;
sufficiently bounded by fence, chain, posts, or otherwise marked to definitely indicate the boundary and to admit a definite description with space adequate to permit the display of three or more new, or new and used, or used motor vehicles and sufficient parking for the public; and
that includes a permanent enclosed building or structure large enough to accommodate the office of the establishment and to provide a safe place to keep the books and other records of the business, at which the principal portion of the business is conducted and the books and records kept and maintained. See Utah Code 41-3-102
Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
Process: as used in this chapter includes all writs, warrants, summonses and orders of the courts of justice or judicial officers. See Utah Code 17-22-1
Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
Regulatory sandbox: means the Regulatory Sandbox Program created by Section 13-55-103, which allows a person to temporarily test an innovative product or service on a limited basis without otherwise being licensed or authorized to act under the laws of the state. See Utah Code 13-55-102
Remanufacturer: means a person who reconstructs used motor vehicles subject to registration under Title 41, Chapter 1a, Motor Vehicle Act, to change the body style and appearance of the motor vehicle or who constructs or assembles motor vehicles from used or new and used motor vehicle parts, or who reconstructs, constructs, or assembles three or more motor vehicles in any 12-month period. See Utah Code 41-3-102
Salesperson: means an individual who for a salary, commission, or compensation of any kind, is employed either directly, indirectly, regularly, or occasionally by any new motor vehicle dealer or used motor vehicle dealer to sell, purchase, or exchange or to negotiate for the sale, purchase, or exchange of motor vehicles. See Utah Code 41-3-102
Sandbox participant: means a person whose application to participate in the regulatory sandbox is approved in accordance with the provisions of this chapter. See Utah Code 13-55-102
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.
Showroom: means a site or location in the state that a direct-sale manufacturer uses for the direct-sale manufacturer's business, including the display and demonstration of new motor vehicles that are exclusively of the same line-make that the direct-sale manufacturer manufactures. See Utah Code 41-3-102
Small trailer: means a trailer that has an unladen weight of more than 750 pounds, but less than 2,000 pounds. See Utah Code 41-3-102
Special equipment: includes a truck mounted crane, cherry picker, material lift, post hole digger, and a utility or service body. See Utah Code 41-3-102
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
State agency: means a department, division, board, council, committee, institution, office, bureau, or other similar administrative unit of the executive branch of state government. See Utah Code 63G-22-102
Summons: Another word for subpoena used by the criminal justice system.
Trustee: A person or institution holding and administering property in trust.
United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
Used motor vehicle: means a vehicle that:
has been titled and registered to a purchaser other than a dealer; or
for a motor vehicle that is not a trailer, travel trailer, or semitrailer, has been driven 7,500 or more miles. See Utah Code 41-3-102
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.
Vehicle: includes a motor vehicle, trailer, semitrailer, off-highway vehicle, camper, park model recreational vehicle, manufactured home, and mobile home. See Utah Code 41-1a-102
Venue: The geographical location in which a case is tried.
Vocational training entity: is a commercial entity where a participant receives vocational training. See Utah Code 13-53-102