Skip to main content
Find a Lawyer

Utah Code Title 63N. Economic Opportunity Act § 63N-21-101. Definitions

Current as of January 01, 2025 | Updated by Findlaw Staff

As used in this chapter:

(1) “Board” means the board of directors of the innovation lab, as described in Section 63N-21-202.

(2) “Innovation lab” means the Utah Innovation Lab created in Section 63N-21-201.

(3) “Qualified business” means a business entity that:

(a) is established to commercialize a technology, product, or service developed through a technology commercialization program at a public or private institution of higher education in the state; and

(b) maintains the business's principal business operations in the state.

(4) “Qualified investment” means any distribution or payment of funds to a qualified business from the Utah innovation fund, including:

(a) a direct investment of capital in a qualified business for the purchase of shares of stock;

(b) a secured loan or revolving line of credit to a qualified business; or

(c) a financial grant to a qualified business.

(5) “Utah innovation fund” means a limited liability company organized under Section 63N-21-301.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Utah Code Title 63N. Economic Opportunity Act § 63N-21-101. Definitions - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-63n-economic-opportunity-act/ut-code-sect-63n-21-101/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard