Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 48-2e-1156
Agent: means a person who:
owns an interest in a postsecondary school; or
is employed by a postsecondary school; and
enrolls or attempts to enroll a Utah resident in a postsecondary school;
offers to award an educational credential for remuneration on behalf of a postsecondary school; or
holds oneself out to Utah residents as representing a postsecondary school for any purpose. See Utah Code 13-34a-102
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.
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Assignment: includes any written stock power, bond power, bill of sale, deed, declaration of trust or other instrument of transfer. See Utah Code 16-16-113
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
Beneficiary: means a person holding a certificate representing a beneficial interest in the trust estate and assets. See Utah Code 13-34a-203
Certificate of postsecondary state authorization: means a certificate issued by the division to a postsecondary school in accordance with the provisions of this chapter. See Utah Code 13-34a-102
an entity that is working on behalf of a charter school or approved charter applicant to develop or construct a charter school building. See Utah Code 11-36a-102
Claim of beneficial interest: includes a claim of any interest by a decedent's legatee, distributee, heir or creditor, a beneficiary under a trust, a ward, a beneficial owner of a security registered in the name of a nominee, or a minor owner of a security registered in the name of a custodian, or a claim of any similar interest, whether the claim is asserted by the claimant or by a fiduciary or by any other authorized person in his behalf, and includes a claim that the transfer would be in breach of fiduciary duties. See Utah Code 16-16-113
Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
Contract: A legal written agreement that becomes binding when signed.
Corporation: means a private or public corporation, association or trust issuing a security. See Utah Code 16-16-113
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.
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Decedent: A deceased person.
Deed: The legal instrument used to transfer title in real property from one person to another.
Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
Development activity: means any construction or expansion of a building, structure, or use, any change in use of a building or structure, or any changes in the use of land that creates additional demand and need for public facilities. See Utah Code 11-36a-102
Development approval: means :
except as provided in Subsection (4)(b), any written authorization from a local political subdivision that authorizes the commencement of development activity;
development activity, for a public entity that may develop without written authorization from a local political subdivision;
a written authorization from a public water supplier, as defined in Section 73-1-4, or a private water company:
to reserve or provide:
a water right;
a system capacity; or
a distribution facility; or
to deliver for a development activity:
culinary water; or
irrigation water; or
a written authorization from a sanitary sewer authority, as defined in Section 10-9a-103:
Disinterested person: means a person who is not a related or subordinate party, as defined in Section 672(c), Internal Revenue Code, with respect to the person then acting as trustee of the trust, and excludes the settlor of the trust and any interested trustee. See Utah Code 16-16-206
Educational credential: means a degree, diploma, certificate, transcript, report, document, letter of designation, mark, or series of letters, numbers, or words that represent enrollment, attendance, or satisfactory completion of the requirements or prerequisites of an educational program. See Utah Code 13-34a-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.
Executor: includes "administrator" when the subject matter justifies the use. See Utah Code 48-2e-1156
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.
Fiduciary: means an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian or nominee. See Utah Code 16-16-113
Fiduciary: A trustee, executor, or administrator.
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.
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.
Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
Impact fee: means a payment of money imposed upon new development activity as a condition of development approval to mitigate the impact of the new development on public infrastructure. See Utah Code 11-36a-102
Income trust: means a trust, created by either an inter vivos or a testamentary instrument, which directs or permits the trustee to distribute the net income of the trust to one or more persons, either in fixed proportions or in amounts or proportions determined by the trustee. See Utah Code 16-16-206
Intentional violation: means a violation of a provision of this chapter that occurs or continues after the division, the attorney general, a county attorney, or a district attorney gives the violator written notice, delivered by certified mail, that the violator is or has been in violation of the provision. See Utah Code 13-34a-102
Inter vivos: Transfer of property from one living person to another living person.
Interested trustee: means :
an individual trustee to whom the net income or principal of the trust can currently be distributed or would be distributed if the trust were to terminate and be distributed;
any trustee who may be removed and replaced by an interested distributee; or
an individual trustee whose legal obligation to support a beneficiary may be satisfied by distributions of income and principal of the trust. See Utah Code 16-16-206
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
Legatee: A beneficiary of a decedent
Level of service: means the defined performance standard or unit of demand for each capital component of a public facility within a service area. See Utah Code 11-36a-102
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
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.
Operate: means to:
maintain a place of business in the state;
conduct significant educational activities within the state; or
provide postsecondary education to a Utah resident that:
is intended to lead to a postsecondary degree or certificate; and
is provided from a location outside the state by correspondence or telecommunications or electronic media technology. See Utah Code 13-34a-102
Operating history: means a report, written evaluation, publication, or other documentation regarding:
the current accreditation status of a postsecondary school with an accrediting agency; and
an action taken by an accrediting agency that:
places the postsecondary school on probation;
imposes disciplinary action against the postsecondary school;
requires the postsecondary school to take corrective action; or
provides the postsecondary school with a warning or directive to show cause. See Utah Code 13-34a-102
Ownership: means :
the controlling interest in a postsecondary school; or
if an entity holds the controlling interest in the postsecondary school, the controlling interest in the entity that holds the controlling interest in the postsecondary school. See Utah Code 13-34a-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.
Person: includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two or more persons having a joint or common interest, or any other legal or commercial entity. See Utah Code 16-16-113
Person: means an individual, general partnership, limited liability partnership, limited partnership, limited liability company, limited association, domestic or foreign trust, estate, association, or corporation. See Utah Code 13-34a-203
Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
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.
Private entity: means an entity in private ownership with at least 100 individual shareholders, customers, or connections, that is located in a first, second, third, or fourth class county and provides water to an applicant for development approval who is required to obtain water from the private entity either as a:
specific condition of development approval by a local political subdivision acting pursuant to a prior agreement, whether written or unwritten, with the private entity; or
functional condition of development approval because the private entity:
has no reasonably equivalent competition in the immediate market; and
Proportionate share: means the cost of public facility improvements that are roughly proportionate and reasonably related to the service demands and needs of any development activity. See Utah Code 11-36a-102
Public facilities: means only the following impact fee facilities that have a life expectancy of 10 or more years and are owned or operated by or on behalf of a local political subdivision or private entity:
water rights and water supply, treatment, storage, and distribution facilities;
wastewater collection and treatment facilities;
storm water, drainage, and flood control facilities;
municipal power facilities;
parks, recreation facilities, open space, and trails;
public safety facilities;
environmental mitigation as provided in Section 11-36a-205; or
Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
Transfer: means a change on the books of a corporation in the registered ownership of a security. See Utah Code 16-16-113
Transfer agent: means a person employed or authorized by a corporation to transfer securities issued by the corporation. See Utah Code 16-16-113
Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
Trustee: means all persons acting as trustee of the trust, except where expressly noted otherwise, whether acting within their discretion or on the direction of one or more persons acting in a fiduciary capacity. See Utah Code 16-16-206
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 48-2e-1156
Unitrust amount: means an amount computed as a percentage of the net fair market value of the trust. See Utah Code 16-16-206