Utah Code § 53H-16-201: General provisions -- Definitions.

As used in this part:

(1) "Executive director" means the executive director of the institute appointed under Section 53H-16-304.

(2) "Institute board" means the board of directors of the Nucleus Institute as described in Section 53H-16-302.

(3) "Investment committee" means the investment committee of the Nucleus Fund created in Section 53H-16-403.

(4) "Nucleus Fund" means a limited liability company organized under Section 53H-16-402.

(5) "Nucleus Institute" or "institute" means the Nucleus Institute created in Section 53H-16-202.

(6) "Qualified business" means a business entity that:

(a) is established to commercialize a technology, product, or service developed in partnership with a technology commercialization program at a public institution or private postsecondary educational institution in the state; and

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

(7) "Qualified investment" means any distribution or payment of funds to a qualified business from the Nucleus 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.