51-9-502 - Definitions. - Utah Statutes

51-9-502. Definitions.
As used in this part:
(1) "Liability or obligation" includes only an action specifically approved by the majorityof the repealed board of trustees in a meeting of the repealed board of trustees.
(2) "Related assets and liabilities" means the assets, liabilities, and obligations of therepealed Navajo Trust Fund as of June 30, 2008.
(3) "Repealed board of trustees" means the board of trustees appointed under Title 63,Chapter 88, Navajo Trust Fund, repealed under Title 63I, Chapter 1, Legislative Oversight andSunset Act.
(4) "Repealed Dineh Committee" means the Dineh Committee established under Title63, Chapter 88, Navajo Trust Fund, repealed under Title 63I, Chapter 1, Legislative Oversightand Sunset Act.
(5) "Repealed Navajo Trust Fund" means the Navajo Trust Fund established under Title63, Chapter 88, Navajo Trust Fund, repealed under Title 63I, Chapter 1, Legislative Oversightand Sunset Act.
(6) "Repealed trust administrator" means the trust administrator appointed under Title63, Chapter 88, Navajo Trust Fund, repealed under Title 63I, Chapter 1, Legislative Oversightand Sunset Act.
(7) "Utah Navajo royalties" means the revenues received by the state that represent the37-1/2% of the net oil royalties from the Aneth Extension of the Navajo Indian Reservationrequired by P.L. 72-403, 47 Stat. 1418, and P.L. 90-306, 82 Stat. 121, to be paid to the state.

Enacted by Chapter 202, 2008 General Session