1. (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. (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. (3) "Commissioner" means the Commissioner of Financial Institutions.
4. (4) "Control" means "control" as defined in Section 7-1-103.
5. (5) "Department" means the Department of Financial Institutions.
6. (6) "Trust business" means "trust business" as defined in Section 7-5-1(1)(b).
7. (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