75-6-302 - Definitions. - Utah Statutes

75-6-302. Definitions.
In this part, unless the context otherwise requires:
(1) "Beneficiary form" means a registration of a security which indicates the presentowner of the security and the intention of the owner regarding the person who will become theowner of the security upon the death of the owner.
(2) "Devisee" means any person designated in a will to receive a disposition of real orpersonal property.
(3) "Heirs" means those persons, including the surviving spouse, who are entitled underthe statutes of intestate succession to the property of a decedent.
(4) "Person" means an individual, a corporation, an organization, or other legal entity.
(5) "Personal representative" includes executor, administrator, successor personalrepresentative, special administrator, and persons who perform substantially the same functionunder the law governing their status.
(6) "Property" includes both real and personal property or any interest therein and meansanything that may be the subject of ownership.
(7) "Register," including its derivatives, means to issue a certificate showing theownership of a certificated security or, in the case of an uncertificated security, to initiate ortransfer an account showing ownership of securities.
(8) "Registering entity" means a person who originates or transfers a security title byregistration, and includes a broker maintaining security accounts for customers and a transferagent or other person acting for or as an issuer of securities.
(9) "Security" means a share, participation, or other interest in property, in a business, orin an obligation of an enterprise or other issuer, and includes a certificated security, anuncertificated security, and a security account.
(10) "Security account" means:
(a) a reinvestment account associated with a security, a securities account with a broker,a cash balance in a brokerage account, cash, interest, earnings, or dividends earned or declared ona security in an account, a reinvestment account, or a brokerage account, whether or not creditedto the account before the owner's death; or
(b) a cash balance or other property held for or due to the owner of a security as areplacement for or product of an account security, whether or not credited to the account beforethe owner's death.
(11) "State" includes any state of the United States, the District of Columbia, theCommonwealth of Puerto Rico, and any territory or possession subject to the legislative authorityof the United States.

Amended by Chapter 79, 1996 General Session