Terms Used In Utah Code > Title 51 > Chapter 10 - Navajo Trust Fund Act

• Administrative expenditure: means :

  (a)	an expenditure for professional services;

  (b)	per diem and travel expenses for the board and the Diné Advisory Committee; and

  (c)

  expense reimbursements, salaries, and benefits for the trust administrator and the trust administrator's staff. See Utah Code 51-10-102 Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5 Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote. Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account. Ballot: means the storage medium, including a paper, mechanical, or electronic storage medium, that records an individual voter's vote. See Utah Code 20A-1-102 Board: means the board of trustees created in Section 51-10-202. See Utah Code 51-10-102 Business enterprise: means a sole proprietorship, partnership, corporation, limited liability company, or other private entity organized to provide goods or services for a profit. See Utah Code 51-10-102 Committee membership: Legislators are assigned to specific committees by their party. Seniority, regional balance, and political philosophy are the most prominent factors in the committee assignment process. 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. Election: means a regular general election, a municipal general election, a statewide special election, a local special election, a regular primary election, a municipal primary election, and a special district election. See Utah Code 20A-1-102 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. Fund: means the Navajo Trust Fund created in Section 51-10-201. See Utah Code 51-10-102 Income: means the revenues from investments made by the state treasurer of the fund principal. See Utah Code 51-10-102 Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5 Navajos: means San Juan County, Utah, Navajos. See Utah Code 51-10-102 Office of Trust Administrator: means the office created in Section 51-10-203. See Utah Code 51-10-102 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: means :Utah Code 68-3-12.5 Political party: means an organization of registered voters that has qualified to participate in an election by meeting the requirements of Chapter 8, Political Party Formation and Procedures. See Utah Code 20A-1-102 Position: means a square, circle, rectangle, or other geometric shape on a ballot in which the voter marks the voter's choice. See Utah Code 20A-1-102 Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way. Principal: means : (a)  the balance of the fund as of July 1, 2015; and (b)  the revenue to the fund from whatever source except income. See Utah Code 51-10-102 Property: includes both real and personal property. See Utah Code 68-3-12.5 Quorum: The number of legislators that must be present to do business. Regular general election: means the election held throughout the state on the first Tuesday after the first Monday in November of each even-numbered year for the purposes established in Section 20A-1-201. See Utah Code 20A-1-102 Service provider: means any of the following that provides a good or service to Navajos: (a)  a business enterprise; (b)  a private nonprofit organization; or (c)  a government entity. See Utah Code 51-10-102 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 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. Trust administrator: means the trust administrator selected as provided in Subsection 51-10-202(2). See Utah Code 51-10-102 Trustee: A person or institution holding and administering property in trust. Utah Navajo Chapter: means one of the following chapters of the Navajo Nation: (a)  Aneth Chapter; (b)  Mexican Water Chapter; (c)  Naatsis'áán Chapter; (d)  Oljato Chapter; (e)  Dennehotso Chapter; (f)  Red Mesa Chapter; and (g)  Teec Nos Pos Chapter. See Utah Code 51-10-102 Vacancy: means : (a)  except as provided in Subsection (75)(b), the absence of an individual to serve in a position created by state constitution or state statute, whether that absence occurs because of death, disability, disqualification, resignation, or other cause ; or (b)  in relation to a candidate for a position created by state constitution or state statute, the removal of a candidate due to the candidate's death, resignation, or disqualification. See Utah Code 20A-1-102