53B-1-201 - Definitions.
53B-1-201. Definitions.
As used in this part:
(1) "Conditional gift" means a gift as defined in Subsection (4) that is subject toconditions:
(a) imposed, requested, or provided by a foreign government or foreign person; and
(b) that relate to:
(i) what kinds of teachers or students may benefit from the gift; or
(ii) a description of the subject matter to be taught with the support of the gift.
(2) "Foreign government" means a government other than the government of:
(a) the United States;
(b) a state within the United States;
(c) a territory or possession of the United States; or
(d) a political subdivision of the United States.
(3) "Foreign person" means:
(a) a foreign government defined in Subsection (2);
(b) an individual who is not a citizen or national of the United States or of a territory orprotectorate of the United States;
(c) a corporation, partnership, joint venture, proprietorship, trust, association, or otherentity that is created or organized under the laws of a foreign government or that has its principalplace of business located outside the United States;
(d) if known by the higher education institution, a corporation, partnership, joint venture,proprietorship, trust, association, or other entity that is created or organized pursuant to the lawsof the United States or a state within the United States, if a majority of the stock or other equityinterest is directly or indirectly owned by, or which derives a majority of its funding from:
(i) a foreign government;
(ii) an individual described in Subsection (3)(b); or
(iii) an entity described in Subsection (3)(c) or (d); or
(e) if known by the higher education institution, a committee or other group in which amajority of the membership is composed of:
(i) a foreign government;
(ii) an individual described in Subsection (3)(b); or
(iii) an entity described in Subsection (3)(c) or (d).
(4) "Gift" means an endowment, scholarship, gift, donation, or grant of money orproperty of any kind.
(5) "Higher education institution" means an institution in the state system of highereducation as defined in Section 53B-1-102.
Enacted by Chapter 243, 2010 General Session