Terms Used In Utah Code > Title 61 > Chapter 1 > Part 2 - Protection of Vulnerable Adults from Financial Exploitation Act

• Adult Protective Services: means the same as that term is defined in Section 26B-6-201. See Utah Code 61-1-201
• Agent: means an individual other than a broker-dealer who represents a broker-dealer or issuer in effecting or attempting to effect purchases or sales of securities. See Utah Code 61-1-13
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• Broker-dealer: means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. See Utah Code 61-1-13
• Division: means the Division of Securities established by Section 61-1-18. See Utah Code 61-1-13
• Eligible adult: means :

  (a)	an individual who is 65 years old or older; or

  (b)

  a vulnerable adult as defined in Section 26B-6-201. See Utah Code 61-1-201 Financial exploitation of an eligible adult: means : (a)  the wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or other property of an eligible adult; or (b)  an act or omission, including through a power of attorney, guardianship, or conservatorship of an eligible adult, to: (i)  obtain control, through deception, intimidation, or undue influence, over an eligible adult's money, assets, or other property to deprive the eligible adult of the ownership, use, benefit, or possession of the eligible adult's money, assets, or other property; or (ii)  convert an eligible adult's money, assets, or other property to deprive the eligible adult of the ownership, use, benefit, or possession of the eligible adult's money, assets, or other property. See Utah Code 61-1-201 Investment adviser: includes a financial planner or other person who: (A)  as an integral component of other financially related services, provides the investment advisory services described in Subsection (1)(q)(i) to others as part of a business; (B)  holds the person out as providing the investment advisory services described in Subsection (1)(q)(i) to others; or (C)  holds the person out as a financial adviser, financial consultant, or any other similar title as the division may specify in rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, in any way as to imply that the person is generally engaged in an investment advisory business, including a person who does not hold a securities license and uses a title described in this Subsection (1)(q)(ii)(C) in any advertising or marketing material. See Utah Code 61-1-13 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. Law enforcement agency: means the same as that term is defined in Section 53-1-102. See Utah Code 61-1-201 Person: means : (i)  an individual; (ii)  a corporation; (iii)  a partnership; (iv)  a limited liability company; (v)  an association; (vi)  a joint-stock company; (vii)  a joint venture; (viii)  a trust where the interests of the beneficiaries are evidenced by a security; (ix)  an unincorporated organization; (x)  a government; or (xi)  a political subdivision of a government. See Utah Code 61-1-13 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 Property: includes both real and personal property. See Utah Code 68-3-12.5 Qualified individual: means : (a)  an agent; (b)  an investment adviser representative; or (c)  an individual who serves in a supervisory, compliance, or legal capacity for a broker-dealer or an investment adviser. See Utah Code 61-1-201 record: means information that is: (A)  inscribed in a tangible medium; or (B)  (I)  stored in an electronic or other medium; and (II)  retrievable in perceivable form. See Utah Code 61-1-13 Undue influence: means that a person uses a relationship or position of authority, trust, or confidence: (i)  that is unrelated to a relationship created: (A)  in the ordinary course of making investments regulated under this chapter; or (B)  by a licensee providing services under this chapter; (ii)  that results in: (A)  an investor perceiving the person as having heightened credibility, personal trustworthiness, or dependability; or (B)  the person having special access to or control of an investor's financial resources, information, or circumstances; and (iii)  to: (A)  exploit the trust, dependence, or fear of the investor; (B)  knowingly assist or cause another to exploit the trust, dependence, or fear of the investor; or (C)  gain control deceptively over the decision making of the investor. See Utah Code 61-1-13 Vulnerable adult: means the same as that term is defined in Section 26B-6-201. See Utah Code 61-1-13