Terms Used In Utah Code > Title 16 > Chapter 7 - Corporations Sole

• 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.
• Authority: means the Utah Inland Port Authority, created in Section 11-58-201. See Utah Code 11-58-102
• Authority jurisdictional land: means land within the authority boundary delineated:

  (a)

  in the electronic shapefile that is the electronic component of H. See Utah Code 11-58-102 Base taxable value: means : (a)  (i)  except as provided in Subsection (3)(a)(ii), for a project area that consists of the authority jurisdictional land, the taxable value of authority jurisdictional land in calendar year 2018; and (ii)  for an area described in Section 11-58-600. See Utah Code 11-58-102 Bequest: Property gifted by will. Board: means the authority's governing body, created in Section 11-58-301. See Utah Code 11-58-102 Business plan: means a plan designed to facilitate, encourage, and bring about development of the authority jurisdictional land to achieve the goals and objectives described in Subsection 11-58-203(1), including the development and establishment of an inland port. See Utah Code 11-58-102 Catastrophic public nuisance: means a condition on state or federal land where natural resources and biota have been managed or neglected to such an extent as to cause: (a)  the threat of a catastrophic wildfire demonstrated by: (i)  stand density, basal area, or ground fuel load greater than 150% of land health standards; or (ii)  an insect or disease infestation severe enough to threaten the mortality of at least 20% of the trees in the area; or (b)  a condition in the area that threatens the: (i)  quantity or quality of the public water supply of a political subdivision; (ii)  health, safety, or welfare of the citizens of a political subdivision; (iii)  air quality of a nonattainment area; or (iv)  vegetative resources required to support land health and authorized livestock grazing. See Utah Code 11-51a-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. Chief executive officer: means : (a)  for a municipality: (i)  the mayor, if the municipality is operating under a form of municipal government other than the council-manager form of government; or (ii)  the city manager, if the municipality is operating under the council-manager form of government; (b)  for a county: (i)  the chair of the county commission, if the county is operating under the county commission or expanded county commission form of government; (ii)  the county executive officer, if the county is operating under the county-executive form of government; or (iii)  the county manager, if the county is operating under the council-manager form of government. See Utah Code 11-51a-102 City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5 Contaminated land: means land: (a)  within a project area; and (b)  that contains hazardous materials, as defined in Section 19-6-302, hazardous substances, as defined in Section 19-6-302, or landfill material on, in, or under the land. See Utah Code 11-58-102 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 executive: means :Utah Code 68-3-12.5 County sheriff: means an individual: (a)  elected to the office of county sheriff; and (b)  who fulfills the duties described in Subsection 17-22-1. See Utah Code 11-51a-102 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Deed: The legal instrument used to transfer title in real property from one person to another. Development: means : (a)  the demolition, construction, reconstruction, modification, expansion, or improvement of a building, utility, infrastructure, landscape, parking lot, park, trail, recreational amenity, or other facility, including public infrastructure and improvements; and (b)  the planning of, arranging for, or participation in any of the activities listed in Subsection (7)(a). See Utah Code 11-58-102 Development project: means a project for the development of land within a project area. See Utah Code 11-58-102 Devise: To gift property by will. 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. Federal agency: means the: (a)  United States Bureau of Land Management; (b)  United States Forest Service; (c)  United States Fish and Wildlife Service; or (d)  National Park Service. See Utah Code 11-51a-102 Federally managed land: means land that is managed by a federal agency. See Utah Code 11-51a-102 Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Grantor: The person who establishes a trust and places property into it. Highway: includes :Utah Code 68-3-12.5 Inland port: means one or more sites that: (a)  contain multimodal facilities, intermodal facilities, or other facilities that: (i)  are related but may be separately owned and managed; and (ii)  together are intended to: (A)  allow global trade to be processed and altered by value-added services as goods move through the supply chain; (B)  provide a regional merging point for transportation modes for the distribution of goods to and from ports and other locations in other regions; (C)  provide cargo-handling services to allow freight consolidation and distribution, temporary storage, customs clearance, and connection between transport modes; and (D)  provide international logistics and distribution services, including freight forwarding, customs brokerage, integrated logistics, and information systems; and (b)  may include a satellite customs clearance terminal, an intermodal facility, a customs pre-clearance for international trade, or other facilities that facilitate, encourage, and enhance regional, national, and international trade. See Utah Code 11-58-102 Inland port use: means a use of land: (a)  for an inland port; (b)  that directly implements or furthers the purposes of an inland port, as stated in Subsection (9); (c)  that complements or supports the purposes of an inland port, as stated in Subsection (9); or (d)  that depends upon the presence of the inland port for the viability of the use. See Utah Code 11-58-102 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 Intermodal facility: means a facility for transferring containerized cargo between rail, truck, air, or other transportation modes. See Utah Code 11-58-102 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. Land: includes :Utah Code 68-3-12.5 Landfill material: means garbage, waste, debris, or other materials disposed of or placed in a landfill. See Utah Code 11-58-102 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 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. 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. Person: means :Utah Code 68-3-12.5 Personal property: includes :Utah Code 68-3-12.5 Personal property: All property that is not real property. Political subdivision: means a municipality or county. See Utah Code 11-51a-102 Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5 Project area: means : (a)  the authority jurisdictional land, subject to Section 11-58-605; or (b)  land outside the authority jurisdictional land, whether consisting of a single contiguous area or multiple noncontiguous areas, described in a project area plan or draft project area plan, where the development project set forth in the project area plan or draft project area plan takes place or is proposed to take place. See Utah Code 11-58-102 Project area plan: means a written plan that, after its effective date, guides and controls the development within a project area. See Utah Code 11-58-102 Property: includes both real and personal property. See Utah Code 68-3-12.5 Property tax: includes a privilege tax and each levy on an ad valorem basis on tangible or intangible personal or real property. See Utah Code 11-58-102 Public entity: means : (a)  the state, including each department, division, or other agency of the state; or (b)  a county, city, town, metro township, school district, special district, special service district, interlocal cooperation entity, community reinvestment agency, or other political subdivision of the state, including the authority. See Utah Code 11-58-102 Public infrastructure and improvements: includes : (i)  facilities, lines, or systems that provide: (A)  water, chilled water, or steam; or (B)  sewer, storm drainage, natural gas, electricity, energy storage, renewable energy, microgrids, or telecommunications service; (ii)  streets, roads, curb, gutter, sidewalk, walkways, solid waste facilities, parking facilities, rail lines, intermodal facilities, multimodal facilities, and public transportation facilities; (iii)  an inland port; and (iv)  infrastructure, improvements, facilities, or buildings that are developed as part of a remediation project. See Utah Code 11-58-102 Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. Remediation: includes : (a)  activities for the cleanup, rehabilitation, and development of contaminated land; and (b)  acquiring an interest in land within a remediation project area. See Utah Code 11-58-102 Remediation project: means a project for the remediation of contaminated land that: (a)  is owned by: (i)  the state or a department, division, or other instrumentality of the state; (ii)  an independent entity, as defined in Section 63E-1-102; or (iii)  a political subdivision of the state; and (b)  became contaminated land before the owner described in Subsection (24)(a) obtained ownership of the land. See Utah Code 11-58-102 Remediation project area: means a project area consisting of contaminated land that is or is expected to become the subject of a remediation project. See Utah Code 11-58-102 Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation. Road: includes :Utah Code 68-3-12.5 Shapefile: means the digital vector storage format for storing geometric location and associated attribute information. See Utah Code 11-58-102 Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5 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 Statute: A law passed by a legislature. Taxable value: means the value of property as shown on the last equalized assessment roll. See Utah Code 11-58-102 Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5 Trustee: A person or institution holding and administering property in trust. 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 Writing: includes :Utah Code 68-3-12.5