Utah Code § 75A-1-201

Current through the 2024 Fourth Special Session

Section 75A-1-201 - Definitions for part

As used in this part:

(1) "Fiduciary" means:

(a) a trustee under any trust, expressed, implied, resulting or constructive;

(b) an executor;

(c) an administrator;

(d) a guardian;

(e) a conservator;

(f) a curator;

(g) a receiver;

(h) a trustee in bankruptcy;

(i) an assignee for the benefit of creditors;

(j) a partner;

(k) an agent;

(l) an officer of a corporation, public or private;

(m) a public officer; or

(n) any other person acting in a fiduciary capacity for any person, trust, or estate.

(2) "Good faith" means something is in fact done honestly regardless of whether it is done negligently or not.

(3) "Principal" means a person to whom a fiduciary owes an obligation.

Utah Code § 75A-1-201

Renumbered from § 22-1-1 and amended by Chapter 364, 2024 General Session ,§ 14, eff. 9/1/2024.

No Change Since 1953