Terms Used In Utah Code > Title 9 > Chapter 20 - Utah Commission on Service and Volunteerism Act

• Act: means the National Community and Service Trust Act of 1993, 42 U. See Utah Code 9-20-102
• 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}
• Commission: means the Utah Commission on Service and Volunteerism created in Section 9-20-201. See Utah Code 9-20-102
• 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.
• Contract: A legal written agreement that becomes binding when signed.
• Decedent: A deceased person.
• Department: means the Department of Cultural and Community Engagement. See Utah Code 9-1-102
• Dependent: A person dependent for support upon another.
• 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}
• Executive director: means the executive director of the Department of Cultural and Community Engagement. See Utah Code 9-1-102
• Fiduciary: A trustee, executor, or administrator.
• Fund: is a s defined by the Governmental Accounting Standards Board as reflected in the Uniform Accounting Manual for All Local Governments prepared by the Office of the Utah State Auditor. See Utah Code 10-5-102.5
• General fund: is a s defined by the Governmental Accounting Standards Board as reflected in the Uniform Accounting Manual for All Local Governments prepared by the Office of the Utah State Auditor. See Utah Code 10-5-102.5
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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}
• Interfund loan: means a loan of cash from one fund to another, subject to future repayment. See Utah Code 10-5-102.5
• 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.
• Oversight: Committee review of the activities of a Federal agency or program.
• Person: means an individual, corporation, partnership, organization, association, trust, governmental agency, or any other legal entity. See Utah Code 10-1-104
• 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
• Town: means a municipality classified by population as a town under Section 10-2-301. See Utah Code 10-1-104
• Town general fund: means the general fund used by a town. See Utah Code 10-5-102.5
• Trustee: A person or institution holding and administering property in trust.
• Writing: includes :Utah Code 68-3-12.5