Utah Code
Utah Code § 16-15-102 (2026)
Definition of business trust
✓ current as of May 2026
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As used in this chapter:
"Beneficiary" means a person holding a certificate representing a beneficial interest in the trust estate and assets.
"Business trust" means the same as that term is defined in Section 7-5-101.
"Division" means the Division of Corporations and Commercial Code.
"Person" means an individual, general partnership, limited liability partnership, limited partnership, limited liability company, limited association, domestic or foreign trust, estate, association, or corporation.
Notes of Decisions
Cited in 1
case (1 in the last 5 years), 2021–2021 · leading case: Taylor v. Nat'l Collegiate Student Loan Trust 2007-1 (D. Utah 2021).
Taylor v. Nat'l Collegiate Student Loan Trust 2007-1 (D. Utah 2021). “Utah Code Ann. § 16-15-102 . Utah’s Financial Institutions Act defines “business trust” as “an entity engaged in a trade or business that is created by a declaration of trust that transfers property to trustees, to be held and managed by them for the benefit of persons holding…”
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