Current through Bulletin 2024-23, December 1, 2024
Section 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.Utah Admin. Code R331-21-2