Terms Used In Utah Code > Title 75 > Chapter 12 - Uniform Directed Trust Act

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• 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}
• Board: means the Uintah Basin Revitalization Fund Board. See Utah Code 35A-8-1601
• Board: means the Navajo Revitalization Fund Board. See Utah Code 35A-8-1702
• Breach of trust: includes a violation by a trust director or trustee of a duty imposed on the director or trustee by the terms of the trust, this chapter, or the law of this state other than this chapter pertaining to trusts. See Utah Code 75-12-102
• Capital projects: means expenditures for land, improvements on the land, and equipment intended to have long-term beneficial use. See Utah Code 35A-8-1601
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• 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.
• County: means :

  (a)	Duchesne County; or

  (b)

  Uintah County. See Utah Code 35A-8-1601 Department: means the Department of Workforce Services created in Section 35A-1-103. See Utah Code 35A-1-102 Directed trust: means a trust for which the terms of the trust grant a power of direction. See Utah Code 75-12-102 Directed trustee: means a trustee that is subject to a trust director's power of direction. See Utah Code 75-12-102 Director: means the director of the division. See Utah Code 35A-8-101 Division: means the Housing and Community Development Division. See Utah Code 35A-8-1601 Division: means the Housing and Community Development Division. See Utah Code 35A-8-1702 Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts 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. Executive director: means the executive director of the department appointed under Section 35A-1-201. See Utah Code 35A-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. 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 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Navajo Utah Commission: means the commission created by Resolution IGRJN-134-92 of the Intergovernmental Relations Committee of the Navajo Nation Council. See Utah Code 35A-8-1702 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. Person: means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, instrumentality, or other legal entity. See Utah Code 75-12-102 Power of direction: includes a power over the investment, management, or distribution of trust property or other matters of trust administration. See Utah Code 75-12-102 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. Revitalization Fund: means the Uintah Basin Revitalization Fund. See Utah Code 35A-8-1601 Revitalization fund: means the Navajo Revitalization Fund. See Utah Code 35A-8-1702 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. Settlor: means the same as that term is defined in Section 75-7-103. See Utah Code 75-12-102 State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Utah Code 75-12-102 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. Terms of a trust: means : (a)  subject to Subsection (8)(b), the manifestation of the settlor's intent regarding a trust's provisions as: (i)  expressed in the trust instrument; or (ii)  established by other evidence that would be admissible in a judicial proceeding; or (b)  the trust's provisions as established, determined, or amended by: (i)  a trustee or trust director in accordance with applicable law; (ii)  a court order; or (iii)  a nonjudicial settlement agreement under Section 75-7-110. See Utah Code 75-12-102 Tribe: means the Ute Indian Tribe of the Uintah and Ouray Reservation. See Utah Code 35A-8-1601 Trust director: means a person that is granted a power of direction by the terms of a trust to the extent the power is exercisable while the person is not serving as a trustee, regardless of whether: (a)  the terms of the trust refer to the person as a trust director; or (b)  the person is a beneficiary or settlor of the trust. See Utah Code 75-12-102 Trustee: includes an original, additional, and successor trustee, and a cotrustee. See Utah Code 75-12-102 Trustee: A person or institution holding and administering property in trust. United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Utah Code: means the 1953 recodification of the Utah Code, as amended, unless the text expressly references a portion of the 1953 recodification of the Utah Code as it existed:Utah Code 68-3-12.5 Utah Navajo Chapter: means any of the following chapters of the Navajo Nation: (a)  Aneth Chapter; (b)  Dennehotso Chapter; (c)  Mexican Water Chapter; (d)  Navajo Mountain Chapter; (e)  Oljato Chapter; (f)  Red Mesa Chapter; and (g)  Teec Nos Pos Chapter. See Utah Code 35A-8-1702