Terms Used In Utah Code > Title 70A > Chapter 5 - Uniform Commercial Code - Letters of Credit

• Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
• Adviser: means a person who, at the request of the issuer, a confirmer, or another adviser, notifies or requests another adviser to notify the beneficiary that a letter of credit has been issued, confirmed, or amended. See Utah Code 70A-5-102
• Airport lounge: means a business location:

  (a)	at which an alcoholic product is sold at retail for consumption on the premises; and

  (b)

  that is located at an international airport or domestic airport. See Utah Code 32B-1-102 Airport lounge license: means a license issued in accordance with Chapter 5, Retail License Act, and 5. See Utah Code 32B-1-102 Alcohol training and education seminar: means a seminar that is: (a)  required by 7; and (b)  described in Section 26B-5-205. See Utah Code 32B-1-102 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. Applicant: means a person at whose request or for whose account a letter of credit is issued. See Utah Code 70A-5-102 Arena: means an enclosed building: (a)  that is managed by: (i)  the same person who owns the enclosed building; (ii)  a person who has a majority interest in each person who owns or manages a space in the enclosed building; or (iii)  a person who has authority to direct or exercise control over the management or policy of each person who owns or manages a space in the enclosed building; (b)  that operates as a venue; and (c)  that has an occupancy capacity of at least 12,500. See Utah Code 32B-1-102 Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings. Banquet: means an event: (a)  that is a private event or a privately sponsored event; (b)  that is held at one or more designated locations approved by the commission in or on the premises of: (i)  a hotel; (ii)  a resort facility; (iii)  a sports center; (iv)  a convention center; (v)  a performing arts facility; (vi)  an arena; or (vii)  a restaurant venue; (c)  for which there is a contract: (i)  between a person operating a facility listed in Subsection (8)(b) and another person that has common ownership of less than 20% with the person operating the facility; and (ii)  under which the person operating a facility listed in Subsection (8)(b) is required to provide an alcoholic product at the event; and (d)  at which food and alcoholic products may be sold, offered for sale, or furnished. See Utah Code 32B-1-102 Beer: means a product that: (i)  contains: (A)  at least . See Utah Code 32B-1-102 Beer retailer: means a business that: (a)  is engaged, primarily or incidentally, in the retail sale of beer to a patron, whether for consumption on or off the business premises; and (b)  is licensed as: (i)  an off-premise beer retailer, in accordance with 2; or (ii)  an on-premise beer retailer, in accordance with Chapter 5, Retail License Act, and 7. See Utah Code 32B-1-102 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 who under the terms of a letter of credit is entitled to have its complying presentation honored. See Utah Code 70A-5-102 Brewer: means a person engaged in manufacturing: (a)  beer; (b)  heavy beer; or (c)  a flavored malt beverage. See Utah Code 32B-1-102 Commission: means the Alcoholic Beverage Services Commission created in Section 32B-2-201. See Utah Code 32B-1-102 Commission-approved activity: means a leisure activity that: (a)  the commission approves by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act; and (b)  does not involve the use of a dangerous weapon. See Utah Code 32B-6-702 Confirmer: means a nominated person who undertakes, at the request or with the consent of the issuer, to honor a presentation under a letter of credit issued by another. See Utah Code 70A-5-102 Container: means a receptacle that contains an alcoholic product, including: (a)  a bottle; (b)  a vessel; or (c)  a similar item. See Utah Code 32B-1-102 Contract: A legal written agreement that becomes binding when signed. Convention center: means a facility that is: (a)  in total at least 30,000 square feet; and (b)  otherwise defined as a "convention center" by the commission by rule. See Utah Code 32B-1-102 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. Department: means the Department of Alcoholic Beverage Services created in Section 32B-2-203. See Utah Code 32B-1-102 dispense: means : (i)  drawing an alcoholic product; and (ii)  using the alcoholic product at the location from which it was drawn to mix or prepare an alcoholic product to be furnished to a patron of the retail licensee. See Utah Code 32B-1-102 Document: means a draft or other demand, document of title, investment security, certificate, invoice, or other record, statement, or representation of fact, law, right, or opinion: (a)  which is presented in a written or other medium permitted by the letter of credit or, unless prohibited by the letter of credit, by the standard practice referred to in Subsection 70A-5-108(5); and (b)  which is capable of being examined for compliance with the terms and conditions of the letter of credit. See Utah Code 70A-5-102 Domestic airport: means an airport that: (a)  has at least 15,000 commercial airline passenger boardings in any five-year period; (b)  receives scheduled commercial passenger aircraft service; and (c)  is not an international airport. See Utah Code 32B-1-102 Equity license: means a license issued in accordance with Chapter 5, Retail License Act, and 4, that is designated by the commission as an equity license. See Utah Code 32B-1-102 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. Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC Fraternal license: means a license issued in accordance with Chapter 5, Retail License Act, and 4, that is designated by the commission as a fraternal license. See Utah Code 32B-1-102 Fraud: Intentional deception resulting in injury to another. Furnish: includes to: (i)  serve; (ii)  deliver; or (iii)  otherwise make available. See Utah Code 32B-1-102 Good faith: means honesty in fact in the conduct or transaction concerned. See Utah Code 70A-5-102 Guest: means an individual who meets the requirements of Subsection 32B-6-407(9). See Utah Code 32B-1-102 Hotel: includes a commercial lodging establishment that: (i)  meets the requirements under Subsection (53)(a); and (ii)  has one or more privately owned dwelling units. See Utah Code 32B-1-102 International airport: means an airport: (a)  with a United States Customs and Border Protection office on the premises of the airport; and (b)  at which international flights may enter and depart. See Utah Code 32B-1-102 Investigator: means an individual who is: (a)  a department compliance officer; or (b)  a nondepartment enforcement officer. See Utah Code 32B-1-102 Issuer: means a bank or other person that issues a letter of credit, but does not include an individual who makes an engagement for personal, family, or household purposes. See Utah Code 70A-5-102 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. Letter of credit: means a definite undertaking that satisfies the requirements of Section 70A-5-104 by an issuer to a beneficiary at the request or for the account of an applicant or, in the case of a financial institution, to itself or for its own account, to honor a documentary presentation by payment or delivery of an item of value. See Utah Code 70A-5-102 License: means : (a)  a retail license; (b)  a sublicense; (c)  a license issued in accordance with 4; (d)  a license issued in accordance with Chapter 11, Manufacturing and Related Licenses Act; (e)  a license issued in accordance with Chapter 12, Liquor Warehousing License Act; (f)  a license issued in accordance with Chapter 13, Beer Wholesaling License Act; or (g)  a license issued in accordance with Chapter 17, Liquor Transport License Act. See Utah Code 32B-1-102 Licensee: means a person who holds a license. See Utah Code 32B-1-102 Liquor: includes : (A)  heavy beer; (B)  wine; and (C)  a flavored malt beverage. See Utah Code 32B-1-102 Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Local authority: means : (a)  for premises that are located in an unincorporated area of a county, the governing body of a county; (b)  for premises that are located in an incorporated city, town, or metro township, the governing body of the city, town, or metro township; or (c)  for premises that are located in a project area as defined in Section 63H-1-102 and in a project area plan adopted by the Military Installation Development Authority under Title 63H, Chapter 1, Military Installation Development Authority Act, the Military Installation Development Authority. See Utah Code 32B-1-102 Lounge or bar area: is a s defined by rule made by the commission. See Utah Code 32B-1-102 Member: means an individual who, after paying regular dues, has full privileges in an equity licensee or fraternal licensee. See Utah Code 32B-1-102 Minibar: means an area of a hotel guest room where one or more alcoholic products are kept and offered for self-service sale or consumption. See Utah Code 32B-1-102 Minor: means an individual under 21 years old. See Utah Code 32B-1-102 Nominated person: means a person whom the issuer: (a)  designates or authorizes to pay, accept, negotiate, or otherwise give value under a letter of credit; and (b)  undertakes by agreement or custom and practice to reimburse. See Utah Code 70A-5-102 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. offer for sale: means a transaction, exchange, or barter whereby, for consideration, an alcoholic product is either directly or indirectly transferred, solicited, ordered, delivered for value, or by a means or under a pretext is promised or obtained, whether done by a person as a principal, proprietor, or as staff, unless otherwise defined in this title or the rules made by the commission. See Utah Code 32B-1-102 On-premise banquet license: means a license issued in accordance with Chapter 5, Retail License Act, and 6. See Utah Code 32B-1-102 On-premise beer retailer: means a beer retailer who is: (a)  authorized to sell, offer for sale, or furnish beer under a license issued in accordance with Chapter 5, Retail License Act, and 7; and (b)  engaged in the sale of beer to a patron for consumption on the beer retailer's premises: (i)  regardless of whether the beer retailer sells beer for consumption off the licensed premises; and (ii)  on and after March 1, 2012, operating: (A)  as a tavern; or (B)  in a manner that meets the requirements of Subsection 32B-6-703(2)(e)(i). See Utah Code 32B-1-102 Package agency: means a retail liquor location operated: (a)  under an agreement with the department; and (b)  by a person: (i)  other than the state; and (ii)  who is authorized by the commission in accordance with 6, to sell packaged liquor for consumption off the premises of the package agency. See Utah Code 32B-1-102 Patron: means an individual to whom food, beverages, or services are sold, offered for sale, or furnished, or who consumes an alcoholic product including: (a)  a customer; (b)  a member; (c)  a guest; (d)  an attendee of a banquet or event; (e)  an individual who receives room service; (f)  a resident of a resort; or (g)  a hospitality guest, as defined in Section 32B-6-1002, under a hospitality amenity license. See Utah Code 32B-1-102 Performing arts facility: means a multi-use performance space that: (i)  is primarily used to present various types of performing arts, including dance, music, and theater; (ii)  contains over 2,500 seats; (iii)  is owned and operated by a governmental entity; and (iv)  is located in a city of the first class. See Utah Code 32B-1-102 Person: means :Utah Code 68-3-12.5 Premises: means a building, enclosure, or room used in connection with the storage, sale, furnishing, consumption, manufacture, or distribution, of an alcoholic product, unless otherwise defined in this title or rules made by the commission. See Utah Code 32B-1-102 Presentation: means delivery of a document to an issuer or nominated person for honor or giving of value under a letter of credit. See Utah Code 70A-5-102 Presenter: means a person making a presentation as or on behalf of a beneficiary or nominated person. See Utah Code 70A-5-102 Primary spirituous liquor: means the main distilled spirit in a beverage. See Utah Code 32B-1-102 Private event: means a specific social, business, or recreational event: (i)  for which an entire room, area, or hall is leased or rented in advance by an identified group; and (ii)  that is limited in attendance to people who are specifically designated and their guests. See Utah Code 32B-1-102 Probable cause: A reasonable ground for belief that the offender violated a specific law. Quorum: The number of legislators that must be present to do business. Record: includes : (i)  a book; (ii)  a book of account; (iii)  a paper; (iv)  a contract; (v)  an agreement; (vi)  a document; or (vii)  a recording in any medium. See Utah Code 32B-1-102 Record: means information that is inscribed on a tangible medium, or that is stored in an electronic or other medium and is retrievable in perceivable form. See Utah Code 70A-5-102 Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC Recreational amenity: means : (i)  a billiard parlor; (ii)  a pool parlor; (iii)  a bowling facility; (iv)  a golf course; (v)  miniature golf; (vi)  a golf driving range; (vii)  a tennis club; (viii)  a sports facility that hosts professional sporting events and has a seating capacity equal to or greater than 6,500; (ix)  a concert venue that has a seating capacity equal to or greater than 6,500; (x)  one of the following if owned by a government agency: (A)  a convention center; (B)  a fair facility; (C)  an equestrian park; (D)  a theater; or (E)  a concert venue; (xi)  an amusement park: (A)  with one or more permanent amusement rides; and (B)  located on at least 50 acres; (xii)  a ski resort; (xiii)  a venue for live entertainment if the venue: (A)  is not regularly open for more than five hours on any day; (B)  is operated so that food is available whenever beer is sold, offered for sale, or furnished at the venue; and (C)  is operated so that no more than 15% of its total annual receipts are from the sale of beer; (xiv)  concessions operated within the boundary of a park administered by the: (A)  Division of State Parks; or (B)  National Parks Service; (xv)  a facility or venue that is a recreational amenity for a person licensed under this part before May 12, 2020; (xvi)  a venue for karaoke; or (xvii)  an enterprise developed around a commission-approved activity. See Utah Code 32B-6-702 Resort: means the same as that term is defined in Section 32B-8-102. See Utah Code 32B-1-102 Resort facility: is a s defined by the commission by rule. See Utah Code 32B-1-102 Restaurant: means a business location: (a)  at which a variety of foods are prepared; (b)  at which complete meals are served; and (c)  that is engaged primarily in serving meals. See Utah Code 32B-1-102 Restaurant venue: means a room within a restaurant that: (a)  is located on the licensed premises of a restaurant licensee; (b)  is separated from the area within the restaurant for a patron's consumption of food by a permanent, opaque, floor-to-ceiling wall such that the inside of the room is not visible to a patron in the area within the restaurant for a patron's consumption of food; and (c)  (i)  has at least 1,000 square feet that: (A)  may be reserved for a banquet; and (B)  accommodates at least 75 individuals; or (ii)  if the restaurant is located in a small or unincorporated locality, has an appropriate amount of space, as determined by the commission, that may be reserved for a banquet. See Utah Code 32B-1-102 Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. Retail license: means one of the following licenses issued under this title: (a)  a full-service restaurant license; (b)  a master full-service restaurant license; (c)  a limited-service restaurant license; (d)  a master limited-service restaurant license; (e)  a bar establishment license; (f)  an airport lounge license; (g)  an on-premise banquet license; (h)  an on-premise beer license; (i)  a reception center license; (j)  a beer-only restaurant license; (k)  a hospitality amenity license; (l)  a resort license; (m)  a hotel license; or (n)  an arena license. See Utah Code 32B-1-102 Room service: means furnishing an alcoholic product to a person in a guest room or privately owned dwelling unit of a: (a)  hotel; or (b)  resort facility. See Utah Code 32B-1-102 Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5 Spirituous liquor: includes an alcoholic product defined as a "distilled spirit" by 27 U. See Utah Code 32B-1-102 Sports center: is a s defined by the commission by rule. See Utah Code 32B-1-102 Staff: includes : (i)  an officer; (ii)  a director; (iii)  an employee; (iv)  personnel management; (v)  an agent of the licensee, including a managing agent; (vi)  an operator; or (vii)  a representative. See Utah Code 32B-1-102 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. Storage area: means an area on licensed premises where the licensee stores an alcoholic product. See Utah Code 32B-1-102 Store: means to place or maintain in a location an alcoholic product. See Utah Code 32B-1-102 Successor of a beneficiary: means a person who succeeds to substantially all of the rights of a beneficiary by operation of law, including a corporation with or into which the beneficiary has been merged or consolidated, an administrator, executor, personal representative, trustee in bankruptcy, debtor in possession, liquidator, and receiver. See Utah Code 70A-5-102 Tavern: means an on-premise beer retailer who is: (a)  issued a license by the commission in accordance with Chapter 5, Retail License Act, and 7; and (b)  designated by the commission as a tavern in accordance with 7. See Utah Code 32B-1-102 total passengers: means the number of total passengers in a calendar year that is reported in the most current comprehensive annual financial report for the airport in which an airport lounge is located. See Utah Code 32B-6-502 Trustee: A person or institution holding and administering property in trust. Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC Venue: The geographical location in which a case is tried. Wine: includes : (i)  an alcoholic beverage defined as wine under 27 U. See Utah Code 32B-1-102