Terms Used In Utah Code > Title 9 > Chapter 19 - National Professional Men's Soccer Team Support of Building Communities Restricted Account Act

• Amortization: Paying off a loan by regular installments.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• Contract: A legal written agreement that becomes binding when signed.
• Department: means the Department of Cultural and Community Engagement. See Utah Code 9-1-102
• Division: means the Division of State History. See Utah Code 9-8-102
• Effect: means an alteration to one or more characteristics of a historic property that qualify the historic property for inclusion in, or that make the historic property eligible for inclusion in, the National Register of Historic Places. See Utah Code 9-8-402
• 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.
• Fiduciary: A trustee, executor, or administrator.
• Historic property: means any historic or prehistoric district, site, building, structure, or object that is at least 50 years old and that is included in, or that is eligible for inclusion in, the National Register of Historic Places. See Utah Code 9-8-402
• 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}
• Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
• Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
• 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.
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• 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
• Undertaking: means a project, activity, or program funded in whole or in part under the direct or indirect jurisdiction of a state agency, including a project, activity, or program:

  (i)	carried out by or on behalf of a state agency;

  (ii)	carried out with financial assistance from the state; or

  (iii)

  that requires a state permit, license, or approval. See Utah Code 9-8-402 United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5