Terms Used In Utah Code > Title 9 > Chapter 1 > Part 2 - Department of Cultural and Community Engagement

• Administrator: includes "executor" when the subject matter justifies the use. See 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.
• 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 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 Branch: means a place of business of a financial institution, other than its main office, at which deposits are received and paid. See Utah Code 7-1-103 Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103 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. 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 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 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 Donor: The person who makes a gift. 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 Department of Cultural and Community Engagement. See Utah Code 9-1-102 Field of membership: means persons designated as eligible for credit union membership in accordance with: (a)  Section 7-9-51 or 7-9-53; and (b)  the bylaws of the credit union. See Utah Code 7-9-3 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. 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. Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Liquidation: means the act or process of winding up the affairs of an institution subject to the jurisdiction of the department by realizing upon assets, paying liabilities, and appropriating profit or loss, 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 Liquidator: means a person, agency, or instrumentality of this state or the United States appointed to conduct a liquidation. See Utah Code 7-1-103 Member-business loan: means any loan, line of credit, or letter of credit, the proceeds of which will be used for: (i)  a commercial purpose; (ii)  other business investment property or venture purpose; or (iii)  an agricultural purpose. See Utah Code 7-9-3 National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC Pass-through funding: means funding from an appropriation by the Legislature to a state agency that is intended to be passed through the state agency to: (i)  a government or local government entity; (ii)  a private entity, including a not-for-profit entity; or (iii)  a person in the form of a loan or a grant. See Utah Code 9-1-102 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 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. 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: 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 Statute: A law passed by a legislature. 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 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