Utah Code > Title 53G > Chapter 5 > Part 4 – Powers and Duties
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Terms Used In Utah Code > Title 53G > Chapter 5 > Part 4 - Powers and Duties
- Asset: means property of all kinds, real and personal, tangible and intangible, and includes:
(a) cash; (b) stock or other investments; (c) real property; (d) equipment and supplies; (e) an ownership interest; (f) a license; (g) a cause of action; and (h) any similar property. See Utah Code 53G-5-102 - Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- authorizer: means an entity listed in Section 53G-5-205 that authorizes a charter school. See Utah Code 53G-5-102
- Bequest: Property gifted by will.
- 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.
- Devise: To gift property by will.
- Donor: The person who makes a gift.
- 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.
- 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.
- Land: includes :Utah Code 68-3-12.5
- 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
- Person: means :Utah Code 68-3-12.5
- Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
- Property: includes both real and personal property. 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.
- Writing: includes :Utah Code 68-3-12.5