Terms Used In Utah Code > Title 7 > Chapter 23 - Check Cashing and Deferred Deposit Lending Registration Act

• Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
• Allegation: something that someone says happened.
• 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.
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Ballot: means the storage medium, including a paper, mechanical, or electronic storage medium, that records an individual voter's vote. See Utah Code 20A-1-102
• Ballot proposition: means a question, issue, or proposal that is submitted to voters on the ballot for their approval or rejection including:

  (a)	an opinion question specifically authorized by the Legislature;

  (b)	a constitutional amendment;

  (c)	an initiative;

  (d)	a referendum;

  (e)	a bond proposition;

  (f)	a judicial retention question;

  (g)	an incorporation of a city or town; or

  (h)

  any other ballot question specifically authorized by the Legislature. See Utah Code 20A-1-102 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 Board: means the State Library Board created in Section 9-7-204. See Utah Code 9-7-101 bound: means securing more than one piece of paper together using staples or another means in at least three places across the top of the paper in the blank space reserved for securing the paper. See Utah Code 20A-1-102 Budget officer: means : (a)  for a county, the person designated as finance officer as defined in Section 17-36-3; (b)  for a city, the person designated as budget officer in Subsection 10-6-106(4); (c)  for a town, the town council; or (d)  for a metro township, the person described in Subsection (2)(a) for the county in which the metro township is located. See Utah Code 20A-7-101 Business of cashing checks: means cashing a check for consideration. See Utah Code 7-23-102 Business of deferred deposit lending: means extending a deferred deposit loan. See Utah Code 7-23-102 Business trust: means an entity engaged in a trade or business that is created by a declaration of trust that transfers property to trustees, to be held and managed by them for the benefit of persons holding certificates representing the beneficial interest in the trust estate and assets. See Utah Code 7-5-1 Certified: means that the county clerk has acknowledged a signature as being the signature of a registered voter. See Utah Code 20A-7-101 Check: is a s defined in Section 70A-3-104. See Utah Code 7-23-102 Check casher: means a person that engages in the business of cashing checks. See Utah Code 7-23-102 City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5 Commissioner: means the commissioner of public safety appointed under Section 53-1-107. See Utah Code 53-1-102 Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103 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 Convention: means the political party convention at which party officers and delegates are selected. See Utah Code 20A-1-102 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 legislative body: means :Utah Code 68-3-12.5 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 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Deferred deposit lender: means a person that engages in the business of deferred deposit lending. See Utah Code 7-23-102 Deferred deposit loan: means a transaction where: (a)  a person: (i)  presents to a deferred deposit lender a check written on that person's account; or (ii)  provides written or electronic authorization to a deferred deposit lender to effect a debit from that person's account using an electronic payment; and (b)  the deferred deposit lender: (i)  provides the person described in Subsection (7)(a) an amount of money that is equal to the face value of the check or the amount of the debit less any fee or interest charged for the transaction; and (ii)  agrees not to cash the check or process the debit until a specific date. See Utah Code 7-23-102 Department: means the Department of Public Safety created in Section 53-1-103. See Utah Code 53-1-102 Department: means the Department of Financial Institutions. See Utah Code 7-1-103 Department: means the Department of Cultural and Community Engagement. See Utah Code 9-1-102 Depository institution: means a bank, savings and loan association, savings bank, industrial bank, credit union, or other institution that: (a)  holds or receives deposits, savings, or share accounts; (b)  issues certificates of deposit; or (c)  provides to its customers other depository accounts that are subject to withdrawal by checks, drafts, or other instruments or by electronic means to effect third party payments. See Utah Code 7-1-103 Depository institution holding company: means : (i)  a person other than an individual that: (A)  has control over a depository institution; or (B)  becomes a holding company of a depository institution under Section 7-1-703; or (ii)  a person other than an individual that the commissioner finds, after considering the specific circumstances, is exercising or is capable of exercising a controlling influence over a depository institution by means other than those specifically described in this section. See Utah Code 7-1-103 Division: means the State Library Division. See Utah Code 9-7-101 Election: means a regular general election, a municipal general election, a statewide special election, a local special election, a regular primary election, a municipal primary election, and a special district election. See Utah Code 20A-1-102 Election officer: means : (a)  the lieutenant governor, for all statewide ballots and elections; (b)  the county clerk for: (i)  a county ballot and election; and (ii)  a ballot and election as a provider election officer as provided in Section 20A-5-400. See Utah Code 20A-1-102 Election official: means any election officer, election judge, or poll worker. See Utah Code 20A-1-102 Electronic initiative process: means : (a)  as it relates to a statewide initiative, the process, described in Sections 20A-7-215 and 20A-21-201, for gathering signatures; or (b)  as it relates to a local initiative, the process, described in Sections 20A-7-514 and 20A-21-201, for gathering signatures. See Utah Code 20A-7-101 Electronic payment: includes a payment made through: (i)  an automated clearing house transaction; (ii)  an electronic check; (iii)  a stored value card; or (iv)  an Internet transfer. See Utah Code 7-23-102 Electronic referendum process: means : (a)  as it relates to a statewide referendum, the process, described in Sections 20A-7-313 and 20A-21-201, for gathering signatures; or (b)  as it relates to a local referendum, the process, described in Sections 20A-7-614 and 20A-21-201, for gathering signatures. See Utah Code 20A-7-101 Electronic signature: means an electronic sound, symbol, or process attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record. See Utah Code 20A-1-102 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. 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. Fraud: Intentional deception resulting in injury to another. Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs. Guardian: includes a person who:Utah Code 68-3-12.5 Initiative: means a new law proposed for adoption by the public as provided in this chapter. See Utah Code 20A-7-101 Initiative application: means : (a)  for a statewide initiative, an application described in Subsection 20A-7-202(2) that includes all the information, statements, documents, and notarized signatures required under Subsection 20A-7-202(2); or (b)  for a local initiative, an application described in Subsection 20A-7-502(2) that includes all the information, statements, documents, and notarized signatures required under Subsection 20A-7-502(2). See Utah Code 20A-7-101 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 Internet policy: means the public library online access policy required in Section 9-7-215. See Utah Code 9-7-101 v3 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 Land use law: means a law of general applicability, enacted based on the weighing of broad, competing policy considerations, that relates to the use of land, including land use regulation, a general plan, a land use development code, an annexation ordinance, the rezoning of a single property or multiple properties, or a comprehensive zoning ordinance or resolution. See Utah Code 20A-7-101 Law enforcement agency: means an entity or division of: (i)  (A)  the federal government, a state, or a political subdivision of a state; (B)  a state institution of higher education; or (C)  a private institution of higher education, if the entity or division is certified by the commissioner under Title 53, Chapter 19, Certification of Private Law Enforcement Agency; and (ii)  that exists primarily to prevent and detect crime and enforce criminal laws, statutes, and ordinances. See Utah Code 53-1-102 Law enforcement officer: means the same as that term is defined in Section 53-13-103. See Utah Code 53-1-102 Legal voter: means an individual who is registered to vote in Utah. See Utah Code 20A-7-101 Legally referable to voters: means : (a)  for a proposed local initiative, that the proposed local initiative is legally referable to voters under Section 20A-7-502. See Utah Code 20A-7-101 Library board: means the library board of directors appointed locally as authorized by Section 9-7-402 or 9-7-502 and which exercises general policy authority for library services within a city or county of the state, regardless of the title by which the board is known locally. See Utah Code 9-7-101 Local law: includes : (i)  an ordinance; (ii)  a resolution; (iii)  a land use law; (iv)  a land use regulation, as defined in Section 10-9a-103; or (v)  other legislative action of a local legislative body. See Utah Code 20A-7-101 Local legislative body: means the legislative body of a county, city, town, or metro township. See Utah Code 20A-7-101 Manual ballot: means a paper document produced by an election officer on which an individual records an individual's vote by directly placing a mark on the paper document using a pen or other marking instrument. See Utah Code 20A-1-102 Manual initiative process: means the process for gathering signatures for an initiative using paper signature packets that a signer physically signs. See Utah Code 20A-7-101 Manual referendum process: means the process for gathering signatures for a referendum using paper signature packets that a signer physically signs. See Utah Code 20A-7-101 Mechanical ballot: means a record, including a paper record, electronic record, or mechanical record, that: (a)  is created via electronic or mechanical means; and (b)  records an individual voter's vote cast via a method other than an individual directly placing a mark, using a pen or other marking instrument, to record an individual voter's vote. See Utah Code 20A-1-102 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC Municipal general election: means the election held in municipalities and, as applicable, special districts on the first Tuesday after the first Monday in November of each odd-numbered year for the purposes established in Section 20A-1-202. See Utah Code 20A-1-102 Municipal office: means an elective office in a municipality. See Utah Code 20A-1-102 Municipal primary election: means an election held to nominate candidates for municipal office. See Utah Code 20A-1-102 Municipality: means a city, town, or metro township. See Utah Code 20A-1-102 National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC Nationwide database: means the Nationwide Mortgage Licensing System and Registry, authorized under federal licensing requirements for mortgage loan originators. See Utah Code 7-23-102 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. Out-of-state: means , in reference to a depository institution or depository institution holding company, an institution or company whose home state is not Utah. See Utah Code 7-1-103 Person: means :Utah Code 68-3-12.5 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 Policy: means the public library online access policy adopted by a library board to meet the requirements of Section 9-7-215. See Utah Code 9-7-101 Political party: means an organization of registered voters that has qualified to participate in an election by meeting the requirements of Chapter 8, Political Party Formation and Procedures. See Utah Code 20A-1-102 Position: means a square, circle, rectangle, or other geometric shape on a ballot in which the voter marks the voter's choice. See Utah Code 20A-1-102 Probate: Proving a will 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 Public school: means the same as that term is defined in Section 53G-9-205. See Utah Code 53-22-101 qualified: means to take the oath of office and begin performing the duties of the position for which the individual was elected. See Utah Code 20A-1-102 Quorum: The number of legislators that must be present to do business. Receiver: means a person, agency, or instrumentality of this state or the United States appointed to administer and manage an institution subject to the jurisdiction of the department in receivership, as provided in Chapter 2, Possession of Depository Institution by Commissioner, and Chapter 19, Acquisition of Failing Depository Institutions or Holding Companies. See Utah Code 7-1-103 Referendum: means a process by which a law passed by the Legislature or by a local legislative body is submitted or referred to the voters for their approval or rejection. See Utah Code 20A-7-101 Referendum application: means : (a)  for a statewide referendum, an application described in Subsection 20A-7-302(2) that includes all the information, statements, documents, and notarized signatures required under Subsection 20A-7-302(2); or (b)  for a local referendum, an application described in Subsection 20A-7-602(2) that includes all the information, statements, documents, and notarized signatures required under Subsection 20A-7-602(2). See Utah Code 20A-7-101 Referendum petition: means : (a)  as it relates to a statewide referendum, using the manual referendum process, the form described in Subsection 20A-7-303(2)(a), petitioning for submission of a law passed by the Legislature to legal voters for their approval or rejection; (b)  as it relates to a statewide referendum, using the electronic referendum process, the form described in Subsection 20A-7-313(2), petitioning for submission of a law passed by the Legislature to legal voters for their approval or rejection; (c)  as it relates to a local referendum, using the manual referendum process, the form described in Subsection 20A-7-603(2)(a), petitioning for submission of a local law to legal voters for their approval or rejection; or (d)  as it relates to a local referendum, using the electronic referendum process, the form described in Subsection 20A-7-614(2), petitioning for submission of a local law to legal voters for their approval or rejection. See Utah Code 20A-7-101 Refinance: means a new deferred deposit loan transaction whose proceeds are meant to satisfy the term or amount owed on an existing deferred deposit loan. See Utah Code 7-23-102 Regular general election: means the election held throughout the state on the first Tuesday after the first Monday in November of each even-numbered year for the purposes established in Section 20A-1-201. See Utah Code 20A-1-102 Regular primary election: means the election, held on the date specified in Section 20A-1-201. See Utah Code 20A-1-102 Rollover: means the extension or renewal of the term of a deferred deposit loan. See Utah Code 7-23-102 Savings and loan association: means : (a)  a federal savings and loan association; and (b)  an out-of-state savings and loan association. See Utah Code 7-1-103 Service of process: The service of writs or summonses to the appropriate party. service organization: means a corporation or other business entity owned or controlled by one or more financial institutions that is engaged or proposes to engage in business activities related to the business of financial institutions. See Utah Code 7-1-103 Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5 Signature sheets: means sheets in the form required by this chapter that are used under the manual initiative process or the manual referendum process to collect signatures in support of an initiative or referendum. See Utah Code 20A-7-101 Standard local ballot proposition: means a local ballot proposition for an initiative or a referendum. See Utah Code 20A-7-101 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 security chief: means an individual appointed by the commissioner under Section 53-22-102. See Utah Code 53-22-101 Statute: A law passed by a legislature. Subsidiary: means a business entity under the control of an institution. See Utah Code 7-1-103 Tax percentage difference: means the difference between the tax rate proposed by an initiative or an initiative petition and the current tax rate. See Utah Code 20A-7-101 Ticket: means a list of: (a)  political parties; (b)  candidates for an office; or (c)  ballot propositions. See Utah Code 20A-1-102 Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5 Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC Trust business: means , except as provided in Subsection (1)(c), a business in which one acts in any agency or fiduciary capacity, including that of personal representative, executor, administrator, conservator, guardian, assignee, receiver, depositary, or trustee under appointment as trustee for any purpose permitted by law, including the definition of "trust" set forth in Subsection 75-1-201(55). See Utah Code 7-5-1 Trust company: means an institution authorized to engage in the trust business under this chapter. See Utah Code 7-5-1 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 Valid write-in candidate: means a candidate who has qualified as a write-in candidate by following the procedures and requirements of this title. See Utah Code 20A-1-102 Venue: The geographical location in which a case is tried. Verified: means acknowledged by the person circulating the petition as required in Section 20A-7-105. See Utah Code 20A-7-101 Voter: means an individual who: (a)  meets the requirements for voting in an election; (b)  meets the requirements of election registration; (c)  is registered to vote; and (d)  is listed in the official register book. See Utah Code 20A-1-102 Write-in vote: means a vote cast for an individual, whose name is not printed on the ballot, in accordance with the procedures established in this title. See Utah Code 20A-1-102 Writing: includes :Utah Code 68-3-12.5