Utah Admin. Code R331-21-2 - Definitions for Purposes of this Rule
(1) "Affiliate" means any company which
controls, is controlled by, or is under common control with a trust company,
and that is authorized to conduct a trust business by its applicable state or
federal regulator.
(2) "Collective
investment fund" means a fund established and administered by a trust company
or one of its affiliates, into which a trust company and one or more of its
affiliates pool trust account funds for common investment.
(3) "Commissioner" means the Commissioner of
Financial Institutions.
(4)
"Control" means "control" as defined in Section
7-1-103.
(5) "Department" means the Department of
Financial Institutions.
(6) "Trust
business" means "trust business" as defined in Section
7-5-1(1)(b).
(7) "Trust company" means any company
authorized to engage in a trust business in Utah pursuant to Sections 7-5 et
seq., or by federal law.
Notes
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