§ 70A-8-100 Title
§ 70A-8-101 Definitions
§ 70A-8-102 Rules for determining whether certain obligations and interests are securities or financial assets
§ 70A-8-103 Acquisition of security or financial asset or interest therein
§ 70A-8-104 Notice of adverse claim
§ 70A-8-105 Control
§ 70A-8-106 Whether indorsement, instruction, or entitlement order is effective
§ 70A-8-107 Warranties in direct holding
§ 70A-8-108 Warranties in indirect holding
§ 70A-8-109 Applicability — Choice of law
§ 70A-8-110 Clearing corporation rules
§ 70A-8-111 Creditor’s legal process
§ 70A-8-112 Statute of frauds inapplicable
§ 70A-8-113 Evidentiary rules concerning certificated securities
§ 70A-8-114 Securities intermediary and others not liable to adverse claimant
§ 70A-8-115 Securities intermediary as purchaser for value

Terms Used In Utah Code > Title 70A > Chapter 8 > Part 1 - Short Title and General Matters

  • Adverse claim: means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the financial asset. See Utah Code 70A-8-101
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Broker: means a person defined as a broker or dealer under the federal securities laws, but without excluding a bank acting in that capacity. See Utah Code 70A-8-101
  • Certificated security: means a security that is represented by a certificate. See Utah Code 70A-8-101
  • Clearing corporation: means :
    (i) a person that is registered as a "clearing agency" under the federal securities laws;
    (ii) a federal reserve bank; or
    (iii) any other person that provides clearance or settlement services with respect to financial assets that would require it to register as a clearing agency under the federal securities laws but for an exclusion or exemption from the registration requirement, if its activities as a clearing corporation, including promulgation of rules, are subject to regulation by a federal or state governmental authority. See Utah Code 70A-8-101
  • 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.
  • Decedent: A deceased person.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Entitlement holder: means a person identified in the records of a securities intermediary as the person having a security entitlement against the securities intermediary. See Utah Code 70A-8-101
  • Entitlement order: means a notification communicated to a securities intermediary directing transfer or redemption of a financial asset to which the entitlement holder has a security entitlement. See Utah Code 70A-8-101
  • Financial asset: except as otherwise provided in Section 70A-8-102, means:
    (A) a security;
    (B) an obligation of a person or a share, participation, or other interest in a person or in property or an enterprise of a person, which is or is of a type, dealt in or traded on financial markets, or which is recognized in any area in which it is issued or dealt in as a medium for investment; or
    (C) any property that is held by a securities intermediary for another person in a securities account if that securities intermediary has expressly agreed with the other person that the property is to be treated as a financial asset under this chapter. See Utah Code 70A-8-101
  • Indorsement: means a signature that alone or accompanied by other words is made on a security certificate in registered form or on a separate document for the purpose of assigning, transferring, or redeeming the security or granting a power to assign, transfer, or redeem it. See Utah Code 70A-8-101
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Instruction: means a notification communicated to the issuer of an uncertificated security which directs that the transfer of the security be registered or that the security be redeemed. See Utah Code 70A-8-101
  • 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
  • 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.
  • 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
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • 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
  • Securities intermediary: means :
    (i) a clearing corporation; or
    (ii) a person, including a bank or broker, that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity. See Utah Code 70A-8-101
  • Security: except as otherwise provided in Section 70A-8-102, means an obligation of an issuer or a share, participation, or other interest in an issuer or in property or an enterprise of an issuer that:
    (i) is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;
    (ii) is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests, or obligations; and
    (iii) 
    (A) is, or is of a type, dealt in or traded on securities exchanges or securities markets; or
    (B) is a medium for investment and by its terms expressly provides that it is a security governed by this chapter. See Utah Code 70A-8-101
  • Security certificate: means a certificate representing a security. See Utah Code 70A-8-101
  • Security entitlement: means the rights and property interest of an entitlement holder with respect to a financial asset specified in 5. See Utah Code 70A-8-101
  • 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.
  • Uncertificated security: means a security that is not represented by a certificate. See Utah Code 70A-8-101
  • 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
  • United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
  • Writing: includes :Utah Code 68-3-12.5