§ 7-8-3 Organization — Authorization to conduct business — Deposit insurance
§ 7-8-5 Acquisition of own stock restricted — Capital requirements
§ 7-8-7 Reports to commissioner
§ 7-8-11 Dividends
§ 7-8-13 Real estate acquisition, holding, and conveyance
§ 7-8-14 Investment in property used in conduct of business
§ 7-8-15 Bad debts
§ 7-8-16 Registration of industrial bank holding company — Filing and contents of statement — Exemptions — Rules
§ 7-8-19 Meetings of the board of directors
§ 7-8-20 Limitations on loans to one borrower — Exceptions — Rules
§ 7-8-21 Application of chapter to industrial loan companies

Terms Used In Utah Code > Title 7 > Chapter 8 - Industrial Banks

  • Active project area: means a project area that has not been dissolved in accordance with Section 17C-1-702. See Utah Code 17C-1-102
  • Adjusted tax increment: means the percentage of tax increment, if less than 100%, that an agency is authorized to receive:
    (a) for a pre-July 1, 1993, project area plan, under Section 17C-1-403, excluding tax increment under Subsection 17C-1-403(3);
    (b) for a post-June 30, 1993, project area plan, under Section 17C-1-404, excluding tax increment under Section 17C-1-406;
    (c) under a project area budget approved by a taxing entity committee; or
    (d) under an interlocal agreement that authorizes the agency to receive a taxing entity's tax increment. See Utah Code 17C-1-102
  • Adjutant general: means the commanding general of the Utah National Guard as appointed by the governor under Section 39A-1-201. See Utah Code 39A-1-102
  • Affordable housing: means housing owned or occupied by a low or moderate income family, as determined by resolution of the agency. See Utah Code 17C-1-102
  • Agency funds: means money that an agency collects or receives for agency operations, implementing a project area plan or an implementation plan as defined in Section 17C-1-1001, or other agency purposes, including:
    (a) project area funds;
    (b) income, proceeds, revenue, or property derived from or held in connection with the agency's undertaking and implementation of project area development or agency-wide project development as defined in Section 17C-1-1001;
    (c) a contribution, loan, grant, or other financial assistance from any public or private source;
    (d) project area incremental revenue as defined in Section 17C-1-1001; or
    (e) property tax revenue as defined in Section 17C-1-1001. See Utah Code 17C-1-102
  • 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 income: means the same as that term is defined in regulations of the United States Department of Housing and Urban Development, 24 C. See Utah Code 17C-1-102
  • Applicant: means a person filing an application for a license under this chapter. See Utah Code 7-25-102
  • Armed forces: means the United States Army, Navy, Air Force, Marine Corps, Space Force, and Coast Guard. See Utah Code 68-3-12.5
  • Assessment roll: means the same as that term is defined in Section 59-2-102. See Utah Code 17C-1-102
  • 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.
  • Authorized agent: means a person designated by the licensee under this chapter to sell or issue payment instruments or engage in the business of transmitting money on behalf of a licensee. See Utah Code 7-25-102
  • 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
  • Base taxable value: means , unless otherwise adjusted in accordance with provisions of this title, a property's taxable value as shown upon the assessment roll last equalized during the base year. See Utah Code 17C-1-102
  • Base year: means , except as provided in Subsection 17C-1-402(4)(c), the year during which the assessment roll is last equalized:
    (a) for a pre-July 1, 1993, urban renewal or economic development project area plan, before the project area plan's effective date;
    (b) for a post-June 30, 1993, urban renewal or economic development project area plan, or a community reinvestment project area plan that is subject to a taxing entity committee:
    (i) before the date on which the taxing entity committee approves the project area budget; or
    (ii) if taxing entity committee approval is not required for the project area budget, before the date on which the community legislative body adopts the project area plan;
    (c) for a project on an inactive airport site, after the later of:
    (i) the date on which the inactive airport site is sold for remediation and development; or
    (ii) the date on which the airport that operated on the inactive airport site ceased operations; or
    (d) for a community development project area plan or a community reinvestment project area plan that is subject to an interlocal agreement, as described in the interlocal agreement. See Utah Code 17C-1-102
  • Basic levy: means the portion of a school district's tax levy constituting the minimum basic levy under Section 59-2-902. See Utah Code 17C-1-102
  • Bequest: Property gifted by will.
  • Blockchain: means an electronic method of storing data that is:
    (a) maintained by consensus of multiple unaffiliated parties;
    (b) distributed across multiple locations; and
    (c) mathematically verified. See Utah Code 7-25-102
  • Blockchain token: means an electronic record that is:
    (a) recorded on a blockchain; and
    (b) capable of being traded between persons without an intermediary. See Utah Code 7-25-102
  • Board: means the governing body of an agency, as described in Section 17C-1-203. See Utah Code 17C-1-102
  • City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
  • Closed military base: means land within a former military base that the Defense Base Closure and Realignment Commission has voted to close or realign when that action has been sustained by the president of the United States and Congress. See Utah Code 17C-1-102
  • Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
  • 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.
  • Community: means a county or municipality. See Utah Code 17C-1-102
  • Community development project area plan: means a project area plan adopted under 1. See Utah Code 17C-1-102
  • Community legislative body: means the legislative body of the community that created the agency. See Utah Code 17C-1-102
  • community reinvestment agency: means a separate body corporate and politic, created under Section 17C-1-201. See Utah Code 17C-1-102
  • Community reinvestment project area plan: means a project area plan adopted under 1. See Utah Code 17C-1-102
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contest: means to file a written complaint in the district court of the county in which the agency is located. See Utah Code 17C-1-102
  • Contract: A legal written agreement that becomes binding when signed.
  • Contractor: means any person who, under contract with the owner or an operator designated by an owner, performs work upon or furnishes materials or equipment for any production unit. See Utah Code 38-10-101
  • 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
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the Department of Financial Institutions. See Utah Code 7-1-103
  • Dependent: means the spouse and children of a service member or any other individual dependent upon the service member for support. See Utah Code 39A-6-101
  • Dependent: A person dependent for support upon another.
  • 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
  • Development impediment: means a condition of an area that meets the requirements described in Section 17C-2-303 for an urban renewal project area or Section 17C-5-405 for a community reinvestment project area. See Utah Code 17C-1-102
  • Development impediment study: means a study to determine whether a development impediment exists within a survey area as described in Section 17C-2-301 for an urban renewal project area or Section 17C-5-403 for a community reinvestment project area. See Utah Code 17C-1-102
  • Devise: To gift property by will.
  • Economic development project area plan: means a project area plan adopted under 1. See Utah Code 17C-1-102
  • 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.
  • facilities: includes any structure, building, system, land, water right, water, or other real or personal property required to provide a service that a special district is authorized to provide, including any related or appurtenant easement or right-of-way, improvement, utility, landscaping, sidewalk, road, curb, gutter, equipment, or furnishing. See Utah Code 17B-1-102
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fair share ratio: means the ratio derived by:
    (a) for a municipality, comparing the percentage of all housing units within the municipality that are publicly subsidized income targeted housing units to the percentage of all housing units within the county in which the municipality is located that are publicly subsidized income targeted housing units; or
    (b) for the unincorporated part of a county, comparing the percentage of all housing units within the unincorporated county that are publicly subsidized income targeted housing units to the percentage of all housing units within the whole county that are publicly subsidized income targeted housing units. See Utah Code 17C-1-102
  • Family: means the same as that term is defined in regulations of the United States Department of Housing and Urban Development, 24 C. See Utah Code 17C-1-102
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • 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.
  • 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
  • Fraud: Intentional deception resulting in injury to another.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Hazardous waste: means any substance defined, regulated, or listed as a hazardous substance, hazardous material, hazardous waste, toxic waste, pollutant, contaminant, or toxic substance, or identified as hazardous to human health or the environment, under state or federal law or regulation. See Utah Code 17C-1-102
  • Housing allocation: means project area funds allocated for housing under Section 17C-2-203, 17C-3-202, or 17C-5-307 for the purposes described in Section 17C-1-412. See Utah Code 17C-1-102
  • Housing fund: means a fund created by an agency for purposes described in Section 17C-1-411 or 17C-1-412 that is comprised of:
    (a) project area funds, project area incremental revenue as defined in Section 17C-1-1001, or property tax revenue as defined in Section 17C-1-1001 allocated for the purposes described in Section 17C-1-411; or
    (b) an agency's housing allocation. See Utah Code 17C-1-102
  • Inactive airport site: includes a perimeter of up to 2,500 feet around the land described in Subsection (30)(a). See Utah Code 17C-1-102
  • Inactive industrial site: includes a perimeter of up to 1,500 feet around the land described in Subsection (31)(a). See Utah Code 17C-1-102
  • Income targeted housing: means housing that is owned or occupied by a family whose annual income is at or below 80% of the median annual income for a family within the county in which the housing is located. See Utah Code 17C-1-102
  • Incremental value: means a figure derived by multiplying the marginal value of the property located within a project area on which tax increment is collected by a number that represents the adjusted tax increment from that project area that is paid to the agency. See Utah Code 17C-1-102
  • Industrial bank: means a corporation or limited liability company conducting the business of an industrial bank under Chapter 8, Industrial Banks. See Utah Code 7-1-103
  • Industrial loan company: means the same as that term is defined in Section 7-8-21. See Utah Code 7-1-103
  • 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: includes service charges, renewal charges, fees, or any other charges in respect to any obligation or liability. See Utah Code 39A-6-101
  • 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
  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Licensee: means a person licensed under this chapter. See Utah Code 7-25-102
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Lien claimant: means contractors and subcontractors who claim a lien under this chapter. See Utah Code 38-10-101
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Loan fund board: means the Olene Walker Housing Loan Fund Board, established under 5. See Utah Code 17C-1-102
  • Local government building: means a building owned and operated by a community for the primary purpose of providing one or more primary community functions, including:
    (i) a fire station;
    (ii) a police station;
    (iii) a city hall; or
    (iv) a court or other judicial building. See Utah Code 17C-1-102
  • Major transit investment corridor: means the same as that term is defined in Section 10-9a-103. See Utah Code 17C-1-102
  • Marginal value: means the difference between actual taxable value and base taxable value. See Utah Code 17C-1-102
  • Metro township: means :
    (a) a metro township for which the electors at an election under Section 10-2a-404 chose a metro township that is included in a municipal services district; or
    (b) a metro township that subsequently joins a municipal services district. See Utah Code 17B-2a-1102
  • Mine: means a mining claim, mineral deposit, ore deposit, quarry, or mining lease and any related shaft, tunnel, incline, drift, or excavation. See Utah Code 38-10-101
  • Money transmission: means the sale or issuance of a payment instrument or engaging in the business of receiving money for transmission or transmitting money within the United States or to locations abroad by any and all means, including payment instrument, wire, facsimile, or electronic transfer. See Utah Code 7-25-102
  • 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.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Municipal: means of or relating to a municipality. See Utah Code 17B-1-102
  • Municipal services: means one or more of the services identified in Section 17-34-1, 17-36-3, or 17B-1-202. See Utah Code 17B-2a-1102
  • Municipal services district: means a special district that operates under and is subject to the provisions of this chapter and Chapter 2a, Part 11, Municipal Services District Act. See Utah Code 17B-1-102
  • Municipality: means a city, town, or metro township as defined in Section 10-2a-403. See Utah Code 17C-1-102
  • Municipality: means a city, town, or metro township. See Utah Code 17B-1-102
  • National Guard: means the Utah National Guard created in Section 39A-3-101 and in accordance with Utah Constitution Article XV. See Utah Code 39A-1-102
  • 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.
  • Owner: means a person holding any operating right, working interest, or interest in the legal or equitable title, to any real property, mine, oil lease, gas lease, well, or any combination of these, unless otherwise provided in this chapter. See Utah Code 38-10-101
  • Participant: means one or more persons that enter into a participation agreement with an agency. See Utah Code 17C-1-102
  • Participation agreement: means a written agreement between a person and an agency that:
    (a) includes a description of:
    (i) the project area development that the person will undertake;
    (ii) the amount of project area funds the person may receive; and
    (iii) the terms and conditions under which the person may receive project area funds; and
    (b) is approved by resolution of the board. See Utah Code 17C-1-102
  • 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.
  • Payment instrument: means a check, draft, money order, travelers check, or other instrument or written order for the transmission or payment of money, sold or issued to one or more persons, whether or not the instrument is negotiable. See Utah Code 7-25-102
  • 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
  • Person: means an individual, corporation, partnership, organization, association, trust, governmental agency, or other legal entity. See Utah Code 17B-1-102
  • Personal property: includes :Utah Code 68-3-12.5
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Political subdivision: means a county, city, town, metro township, special district under this title, special service district under Title 17D, Chapter 1, Special Service District Act, an entity created by interlocal cooperation agreement under Title 11, Chapter 13, Interlocal Cooperation Act, or any other governmental entity designated in statute as a political subdivision of the state. See Utah Code 17B-1-102
  • Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
  • Production unit: means :
    (a) the drilling unit for a well established by lawful order or rule of the Board of Oil, Gas, and Mining in which the well is located; or if not applicable, 40 acres comprising the quarter-quarter section, or equivalent legal subdivision, in which the well is located; or
    (b) a mine, and if work is performed upon or materials or equipment furnished to any part of the mine from which two or more mines are worked, the production unit shall extend to the owner's interest in the mines so worked. See Utah Code 38-10-101
  • Project area: means the geographic area described in a project area plan within which the project area development described in the project area plan takes place or is proposed to take place. See Utah Code 17C-1-102
  • Project area budget: means a multiyear projection of annual or cumulative revenues and expenses and other fiscal matters pertaining to a project area prepared in accordance with:
    (a) for an urban renewal project area, Section 17C-2-201;
    (b) for an economic development project area, Section 17C-3-201;
    (c) for a community development project area, Section 17C-4-204; or
    (d) for a community reinvestment project area, Section 17C-5-302. See Utah Code 17C-1-102
  • Project area development: means activity within a project area that, as determined by the board, encourages, promotes, or provides development or redevelopment for the purpose of implementing a project area plan, including:
    (a) promoting, creating, or retaining public or private jobs within the state or a community;
    (b) providing office, manufacturing, warehousing, distribution, parking, or other facilities or improvements;
    (c) planning, designing, demolishing, clearing, constructing, rehabilitating, or remediating environmental issues;
    (d) providing residential, commercial, industrial, public, or other structures or spaces, including recreational and other facilities incidental or appurtenant to the structures or spaces;
    (e) altering, improving, modernizing, demolishing, reconstructing, or rehabilitating existing structures;
    (f) providing open space, including streets or other public grounds or space around buildings;
    (g) providing public or private buildings, infrastructure, structures, or improvements;
    (h) relocating a business;
    (i) improving public or private recreation areas or other public grounds;
    (j) eliminating a development impediment or the causes of a development impediment;
    (k) redevelopment as defined under the law in effect before May 1, 2006; or
    (l) any activity described in this Subsection (48) outside of a project area that the board determines to be a benefit to the project area. See Utah Code 17C-1-102
  • Project area funds: means tax increment or sales and use tax revenue that an agency receives under a project area budget adopted by a taxing entity committee or an interlocal agreement. See Utah Code 17C-1-102
  • Project area funds collection period: means the period of time that:
    (a) begins the day on which the first payment of project area funds is distributed to an agency under a project area budget approved by a taxing entity committee or an interlocal agreement; and
    (b) ends the day on which the last payment of project area funds is distributed to an agency under a project area budget approved by a taxing entity committee or an interlocal agreement. See Utah Code 17C-1-102
  • Project area plan: means an urban renewal project area plan, an economic development project area plan, a community development project area plan, or a community reinvestment project area plan that, after the project area plan's effective date, guides and controls the project area development. See Utah Code 17C-1-102
  • Property: includes both real and personal property. See Utah Code 68-3-12.5
  • Property tax: includes a privilege tax imposed under Title 59, Chapter 4, Privilege Tax. See Utah Code 17C-1-102
  • Public entity: means :
    (a) the United States, including an agency of the United States;
    (b) the state, including any of the state's departments or agencies; or
    (c) a political subdivision of the state, including a county, municipality, school district, special district, special service district, community reinvestment agency, or interlocal cooperation entity. See Utah Code 17C-1-102
  • Publicly owned infrastructure and improvements: means water, sewer, storm drainage, electrical, natural gas, telecommunication, or other similar systems and lines, streets, roads, curb, gutter, sidewalk, walkways, parking facilities, public transportation facilities, or other facilities, infrastructure, and improvements benefitting the public and to be publicly owned or publicly maintained or operated. See Utah Code 17C-1-102
  • Quorum: The number of legislators that must be present to do business.
  • real property: includes :Utah Code 68-3-12.5
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • record owner of property: means the owner of real property, as shown on the records of the county in which the property is located, to whom the property's tax notice is sent. See Utah Code 17C-1-102
  • Road: includes :Utah Code 68-3-12.5
  • Sales and use tax revenue: means revenue that is:
    (a) generated from a tax imposed under Title 59, Chapter 12, Sales and Use Tax Act; and
    (b) distributed to a taxing entity in accordance with Sections 59-12-204 and 59-12-205. See Utah Code 17C-1-102
  • Service member: means any member of the Utah National Guard or Utah State Defense Force serving on active military service in an organized military unit. See Utah Code 39A-6-101
  • 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
  • Special district: means a limited purpose local government entity, as described in Section 17B-1-103, that operates under, is subject to, and has the powers described in:
    (a) this chapter; or
    (b) 
    (i) this chapter; and
    (ii) 
    (A) 1;
    (B) 2;
    (C) 3;
    (D) 4;
    (E) 5;
    (F) 6;
    (G) 7;
    (H) 8;
    (I) 9;
    (J) 10; or
    (K) 11. See Utah Code 17B-1-102
  • 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
  • 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 military service: means active, full-time service with a recognized military unit called into service by the governor for at least 30 days. See Utah Code 39A-6-101
  • Statute: A law passed by a legislature.
  • Subcontractor: means any person, other than the contractor, who, under contract with a contractor or another subcontractor, performs work upon or furnishes materials or equipment for any production unit. See Utah Code 38-10-101
  • Subsidiary: means a business entity under the control of an institution. See Utah Code 7-1-103
  • Survey area: means a geographic area designated for study by a survey area resolution to determine whether:
    (a) one or more project areas within the survey area are feasible; or
    (b) a development impediment exists within the survey area. See Utah Code 17C-1-102
  • Survey area resolution: means a resolution adopted by a board that designates a survey area. See Utah Code 17C-1-102
  • Tax increment: means the difference between:
    (i) the amount of property tax revenue generated each tax year by a taxing entity from the area within a project area designated in the project area plan as the area from which tax increment is to be collected, using the current assessed value of the property and each taxing entity's current certified tax rate as defined in Section 59-2-924; and
    (ii) the amount of property tax revenue that would be generated from that same area using the base taxable value of the property and each taxing entity's current certified tax rate as defined in Section 59-2-924. See Utah Code 17C-1-102
  • Taxable value: means :
    (a) the taxable value of all real property a county assessor assesses in accordance with 3, for the current year;
    (b) the taxable value of all real and personal property the commission assesses in accordance with 2, for the current year; and
    (c) the year end taxable value of all personal property a county assessor assesses in accordance with 3, contained on the prior year's tax rolls of the taxing entity. See Utah Code 17C-1-102
  • Taxing entity: means a public entity that:
    (a) levies a tax on property located within a project area; or
    (b) imposes a sales and use tax under Title 59, Chapter 12, Sales and Use Tax Act. See Utah Code 17C-1-102
  • Taxing entity committee: means a committee representing the interests of taxing entities, created in accordance with Section 17C-1-402. See Utah Code 17C-1-102
  • Title lender: includes a person that:
    (i) arranges a title loan on behalf of a title lender;
    (ii) acts as an agent for a title lender; or
    (iii) assists a title lender in the extension of a title loan. See Utah Code 7-24-102
  • Title loan: includes a title loan extended at the same premise on which any of the following are sold:
    (i) a motor vehicle, as defined in Section 41-6a-102;
    (ii) a mobile home, as defined in Section 41-6a-102; or
    (iii) a motorboat, as defined in Section 73-18-2. See Utah Code 7-24-102
  • Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
  • Trustee: A person or institution holding and administering property in trust.
  • 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
  • Unincorporated: means not within a municipality. See Utah Code 17C-1-102
  • Unincorporated: means not included within a municipality. See Utah Code 17B-1-102
  • United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
  • Urban renewal project area plan: means a project area plan adopted under 1. See Utah Code 17C-1-102
  • 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
  • Water conservancy district: means a special district that operates under and is subject to the provisions of this chapter and Chapter 2a, Part 10, Water Conservancy District Act, including an entity that was created and operated as a water conservancy district under the law in effect before April 30, 2007. See Utah Code 17B-1-102
  • Writing: includes :Utah Code 68-3-12.5