Utah Admin. Code R25-21-2 - Definitions
Terms used in this rule are defined in Section 26-61a-102. In addition:
(1) "Utah MRB" means any cannabis production
establishment, medical cannabis pharmacy, or home delivery medical cannabis
pharmacy licensed within the in accordance with the Utah Medical Cannabis
Act.
(2) "Bank" means any federal
or state chartered and regulated depository financial institution.
(3) "Bank of First Deposit" means the first
bank that receives funds from Utah MRB related transactions.
(4) "Payment Provider" means a third-party
company that assist a business in accepting funds or goods or services. The
method of payment can include credit card, debit card, cash card, bank
transfer, ACH, e-wallet, wire transfer, or any other known or unknown
method.
(5) "Processor" means the
business or mechanism that facilitates the transfer of funds from the
consumer's financial institution to the Utah MRB's financial
institution.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
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