Terms Used In Utah Code > Title 7 > Chapter 27 > Part 2 - Registration

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means a group of persons that:

  (i)	constitute the members of a formal association organized for: (A)  an identifiable interest; (B)  an identifiable purpose; (C)  a specific profession; or (D)  a specific occupation; or

  (ii)

  are employed by a common employer. See Utah Code 7-9-3 Broker: means a person who, for compensation or the expectation of compensation, arranges a commercial financing transaction between a third party and a business in the state. See Utah Code 7-27-101 Business: means a private enterprise carried on for the purpose of gain or economic profit. See Utah Code 7-27-101 Commercial financing transaction: means a business purpose transaction: (a)  under which a person extends a business a commercial loan or a commercial open-end credit plan; or (b)  that is an accounts receivable purchase transaction. See Utah Code 7-27-101 Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103 Conviction: A judgement of guilt against a criminal defendant. 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 Department: means the Department of Financial Institutions. See Utah Code 7-1-103 Deposits: means that portion of the capital paid into the credit union by members on which a specified rate of interest will be paid. See Utah Code 7-9-3 Fraud: Intentional deception resulting in injury to another. Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC 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 Provider: includes a person who, under a written agreement with a depository institution, offers one or more commercial financing products provided by the depository institution via an online platform that the person administers. See Utah Code 7-27-101 Service of process: The service of writs or summonses to the appropriate party. Shares: means that portion of the capital paid into the credit union by members on which dividends may be paid. See Utah Code 7-9-3 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