Terms Used In Utah Code > Title 7 > Chapter 1 > Part 2 - Department of Financial Institutions

• Adjudicative proceeding: means :Utah Code 68-3-12.5
• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• Agricultural crops: means any product of cultivation;

  (2)	"Board" means the Agricultural and Wildlife Damage Prevention Board;

  (3)	"Bounty" means the monetary compensation paid to persons for the harvest of predatory or depredating animals;

  (4)	"Damage" means any injury or loss to livestock, poultry, agricultural crops, or wildlife inflicted by predatory or depredating animals or depredating birds;

  (5)	"Depredating animal" means a field mouse, gopher, ground squirrel, jack rabbit, raccoon, or prairie dog;

  (6)	"Depredating bird" means a Brewer's blackbird or starling;

  (7)	"Livestock" means cattle, horses, mules, sheep, goats, and swine;

  (8)	"Predatory animal" means any coyote; and

  (9)

  "Wildlife" means any form of animal life generally living in a state of nature, except a predatory animal or a depredating animal or bird. See Utah Code 4-23-103 Agriculture: means the science and art of the production of plants and animals useful to man, including the preparation of plants and animals for human use and disposal by marketing or otherwise. See Utah Code 4-1-109 Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant. 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 Aquaculture: means the controlled cultivation of aquatic animals. See Utah Code 4-37-103 Aquaculture facility: means any tank, canal, raceway, pond, off-stream reservoir, or other structure used for aquaculture. See Utah Code 4-37-103 Aquatic animal: includes a gamete of any species listed in Subsection (3)(a). See Utah Code 4-37-103 Bank: means a person authorized under the laws of this state, another state, or the United States to accept deposits from the public. See Utah Code 7-1-103 Banking business: means the offering of deposit accounts to the public and the conduct of such other business activities as may be authorized by this title. See Utah Code 7-1-103 Cannabinoid processor license: means a license that the department issues to a person for the purpose of processing a cannabinoid product. See Utah Code 4-41-102 Cannabinoid product: means a product that: (a)  contains or is represented to contain one or more naturally occurring cannabinoids; (b)  contains less than the cannabinoid product THC level, by dry weight; (c)  contains a combined amount of total THC and any THC analog that does not exceed 10% of the total cannabinoid content; and (d)  does not exceed a total of THC and any THC analog that is greater than: (i)  5 milligrams per serving; and (ii)  150 milligrams per package. See Utah Code 4-41-102 Cannabinoid product class: means a group of cannabinoid products that: (a)  have all ingredients in common; and (b)  are produced by or for the same company. See Utah Code 4-41-102 CBD: means the cannabinoid identified as CAS# 13956-29-1. See Utah Code 4-41-102 Commission: means the county legislative body of each county of this state. See Utah Code 4-17-102 Commission: means the Utah Horse Racing Commission created by this chapter. See Utah Code 4-38-102 Commissioner: means the commissioner of agriculture and food. See Utah Code 4-1-109 Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103 Commissioner: means the commissioner of agriculture and food or the commissioner's representative. See Utah Code 4-17-102 Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. Contract: A legal written agreement that becomes binding when signed. control: means the power, directly or indirectly, or through or in concert with one or more persons, to: (a)  direct or exercise a controlling influence over: (i)  the management or policies of a financial institution; or (ii)  the election of a majority of the directors or trustees of an institution; or (b)  vote 25% or more of any class of voting securities of a financial institution. See Utah Code 7-1-103 Conviction: A judgement of guilt against a criminal defendant. 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 executive: means :Utah Code 68-3-12.5 County legislative body: means :Utah Code 68-3-12.5 County noxious weed: means any plant that is: (a)  not on the state noxious weed list; (b)  especially troublesome in a particular county; and (c)  declared by the county legislative body to be a noxious weed within the county. See Utah Code 4-17-102 Credit union: means a cooperative, nonprofit association incorporated under: (a)  Chapter 9, Utah Credit Union Act; or (b)  12 U. See Utah Code 7-1-103 Deed: The legal instrument used to transfer title in real property from one person to another. Department: means the Department of Agriculture and Food created in Chapter 2, Administration. See Utah Code 4-1-109 Department: means the Department of Financial Institutions. See Utah Code 7-1-103 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Domesticated elk: means elk of the genus and species cervus elaphus, held in captivity and domestically raised for commercial purposes. See Utah Code 4-39-102 Domesticated elk facility: includes an elk ranch. See Utah Code 4-39-102 Elk ranch: means a facility where domesticated elk are harvested through typical hunting methods. See Utah Code 4-39-102 Escrow: Money given to a third party to be held for payment until certain conditions are met. 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 commission. See Utah Code 4-38-102 Fee fishing facility: means a body of water used for holding or rearing fish for the purpose of providing fishing for a fee or for pecuniary consideration or advantage. See Utah Code 4-37-103 Fees: means the revenue collected by the United States secretary of interior from assessments on livestock using public lands. See Utah Code 4-20-102 Financial institution: means an institution subject to the jurisdiction of the department because of this title. See Utah Code 7-1-103 Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC Grazing district: means an administrative unit of land: (a)  designated by the commissioner as valuable for grazing and for raising forage crops; and (b)  that consists of any combination of the following: (i)  public lands; (ii)  private land; (iii)  state land; and (iv)  school and institutional trust land as defined in Section 53C-1-103. See Utah Code 4-20-102 Industrial hemp: means any part of a cannabis plant, whether growing or not, with a concentration of less than 0. See Utah Code 4-41-102 Industrial hemp laboratory permit: means a permit that the department issues to a laboratory qualified to test industrial hemp. See Utah Code 4-41-102 Industrial hemp product: means a product made by processing industrial hemp plants or industrial hemp parts. See Utah Code 4-41-102 Industrial hemp retailer permit: means a permit that the department issues to a retailer who sells any viable industrial hemp seed or cannabinoid product. See Utah Code 4-41-102 Institution: means : (a)  a corporation; (b)  a limited liability company; (c)  a partnership; (d)  a trust; (e)  an association; (f)  a joint venture; (g)  a pool; (h)  a syndicate; (i)  an unincorporated organization; or (j)  any form of business entity. See Utah Code 7-1-103 Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC 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. Key participant: means any of the following: (a)  a licensee; (b)  an operation manager; (c)  a site manager; or (d)  an employee who has access to any industrial hemp material with a THC concentration above 0. See Utah Code 4-41-102 Laboratory permittee: means a person possessing an industrial hemp laboratory permit that the department issues under this chapter. See Utah Code 4-41-102 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 leases: means the sale or lease, respectively, of isolated or disconnected tracts of public lands by the United States secretary of interior. See Utah Code 4-20-102 Licensee: means a person possessing a cannabinoid processor license that the department issues under this chapter. See Utah Code 4-41-102 Lien: A claim against real or personal property in satisfaction of a debt. Livestock: means cattle, sheep, goats, swine, horses, mules, poultry, domesticated elk as defined in Section 4-39-102, or any other domestic animal or domestic furbearer raised or kept for profit. See Utah Code 4-1-109 Money services business: includes : (i)  a check casher; (ii)  a deferred deposit lender; (iii)  an issuer or seller of traveler's checks or money orders; and (iv)  a money transmitter. See Utah Code 7-1-103 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Non-compliant material: means : (a)  a hemp plant that does not comply with this chapter, including a cannabis plant with a concentration of 0. See Utah Code 4-41-102 Noxious weed: means any plant the commissioner determines to be especially injurious to public health, crops, livestock, land, or other property. See Utah Code 4-17-102 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. Organization: means a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, two or more persons having a joint or common interest, or any other legal entity. See Utah Code 4-1-109 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. Permittee: means a person possessing a permit that the department issues under this chapter. See Utah Code 4-41-102 Person: means a natural person or individual, corporation, organization, or other legal entity. See Utah Code 4-1-109 Person: means : (a)  an individual; (b)  a corporation; (c)  a limited liability company; (d)  a partnership; (e)  a trust; (f)  an association; (g)  a joint venture; (h)  a pool; (i)  a syndicate; (j)  a sole proprietorship; (k)  an unincorporated organization; or (l)  any form of business entity. See Utah Code 7-1-103 Person: means : (a)  an individual, partnership, association, firm, trust, limited liability company, or corporation; and (b)  an agent or employee of an individual, partnership, association, firm, trust, limited liability company, or corporation. See Utah Code 4-41-102 Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents. Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed. 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 Quorum: The number of legislators that must be present to do business. Race meet: means the entire period of time for which a licensee has been approved to hold horse races. See Utah Code 4-38-102 Racetrack facility: means a racetrack within Utah approved by the commission for the racing of horses, including the track surface, grandstands, clubhouse, all animal housing and handling areas, and other areas in which a person may enter only upon payment of an admission fee or upon presentation of authorized credentials. See Utah Code 4-38-102 Recognized race meet: means a race meet recognized by a national horse breed association. See Utah Code 4-38-102 Regional board: means a regional grazing advisory board with members appointed under Section 4-20-104. See Utah Code 4-20-102 Restricted account: means the Rangeland Improvement Account created in Section 4-20-105. See Utah Code 4-20-102 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. 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 State: means , unless the context demands otherwise: (a)  a state; (b)  the District of Columbia; or (c)  the territories of the United States. See Utah Code 7-1-103 State board: means the Utah Grazing Improvement Program Advisory Board created under Section 4-20-103. See Utah Code 4-20-102 Statute: A law passed by a legislature. Suspect domesticated elk: means a domesticated elk for which: (a)  the state veterinarian has determined that the following suggest that the domesticated elk may be infected with a disease spreading pathogen: (i)  unofficial test results; (ii)  laboratory evidence; or (iii)  clinical signs; and (b)  official laboratory results for a disease spreading pathogen: (i)  are inconclusive; or (ii)  have not been conducted. See Utah Code 4-39-102 THC: means a delta-9-tetrahydrocannabinol, the cannabinoid identified as CAS# 1972-08-3. See Utah Code 4-41-102 THC analog: means a substance that is structurally or pharmacologically substantially similar to, or is represented as being similar to, delta-9-THC. See Utah Code 4-41-102 total THC: means the sum of the determined amounts of delta-9-THC, tertrahydrocannabinolic acid, calculated as "total THC = delta-9-THC + (THCA x 0. See Utah Code 4-41-102 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