Utah § 15-7-2 - Definitions.
Full text of Utah Utah Code § 15-7-2 — Definitions., with citation guidance and answers to common questions.
§ 15-7-2. Definitions.
15-7-2. Definitions.
As used in this chapter:
| (1) | "Authorized officer" means any individual required or permitted by any law or by the issuing public entity to execute on behalf of the public entity, a certificated registered public obligation or a writing relating to an uncertificated registered public obligation. |
| (2) | "Certificated registered public obligation" means a registered public obligation which is represented by an instrument. |
| (3) | "Code" means the Internal Revenue Code of 1954. |
| (4) | "Facsimile seal" means the reproduction by engraving, imprinting, stamping, or other means of the seal of the issuer, official, or official body. |
| (5) | "Facsimile signature" means the reproduction by engraving, imprinting, stamping, or other means of a manual signature. |
| (6) | "Financial intermediary" means a bank, broker, clearing corporation or other person, or the nominee of any of them, which in the ordinary course of its business maintains registered public obligation accounts for its customers. |
| (7) | "Issuer" means a public entity which issues an obligation. |
| (8) | "Obligation" means an agreement by a public entity to pay principal and any interest on the obligation, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement, or otherwise, and includes a share, participation, or other interest in any such agreement. |
| (9) | "Official" or "official body" means the person or group of persons that is empowered to provide for the original issuance of an obligation of the issuer, by defining the obligation and its terms, conditions, and other incidents, or to perform duties with respect to a registered public obligation and any successor of such person or group of persons. |
| (10) | "Official actions" means the actions by statute, order, ordinance, resolution, contract, or other authorized means by which the issuer provides for issuance of a registered public obligation. |
| (11) | "Public entity" means any entity, department, or agency which is empowered under the laws of one or more states, territories, possessions of the United States or the District of Columbia, including this state, to issue obligations any interest with respect to which may, under any provision of law, be provided an exemption from the income tax referred to in the Code. The term "public entity" includes, without limitation, this state, an entity deriving powers from and acting pursuant to a state constitution or legislative act, a county, city, town, a municipal corporation, a quasi-municipal corporation, a state university or college, a school district, a special service district, a special district, a separate legal or administrative entity created under the Interlocal Cooperation Act or other joint agreement entity, a community reinvestment agency, any other political subdivision, a public authority or public agency, a public trust, a nonprofit corporation, or other organizations. |
| (12) | "Registered public obligation" means an obligation issued by a public entity which is issued pursuant to a system of registration. |
| (14) | "Uncertificated registered public obligation" means a registered public obligation which is not represented by an instrument. |
Amended by Chapter 16, 2023 General Session
Frequently Asked Questions About Utah § 15-7-2
What does Utah Code § 15-7-2 cover?
Section 15-7-2 ("Definitions.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 15-7-2?
A common citation format is "Utah Code § 15-7-2" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 15-7-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Utah.