- (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.
KEY: financial institutions, trusts
Date of Last Change: 1995
Notice of Continuation: August 16, 2023
Authorizing, and Implemented or Interpreted Law: 7-1-301; 7-5-13