Terms Used In Arizona Laws > Title 9 > Chapter 11 - Protected Development Rights

• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bank: means a corporation that holds a banking permit issued pursuant to chapter 2 of this title. See Arizona Laws 6-101
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Branch: means any banking office other than the principal banking office. See Arizona Laws 6-101
• Commercial mortgage banker: means a person who engages in the following:

  (a) Originating commercial mortgage loans. See Arizona Laws 6-971

• Commercial mortgage loan: means a loan that is directly or indirectly secured by a mortgage or deed of trust or any lien interest on commercial property and created with the consent of the owner of the commercial property. See Arizona Laws 6-971
• Commercial property: means real estate that is located in this state and that is not used for a one to four family residence. See Arizona Laws 6-971
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the department of insurance and financial institutions. See Arizona Laws 6-101
• Department: means the department of health services or its successor agency. See Arizona Laws 36-2801
• Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
• Designated caregiver: means a person who:

  (a) Is at least twenty-one years of age. See Arizona Laws 36-2801

• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• Generally accepted accounting principles: means United States generally accepted accounting principles issued by the financial accounting standards board or the international financial reporting standards issued by the international accounting standards board. See Arizona Laws 6-971
• Independent third-party laboratory: means an entity that has a national or international accreditation and that is certified by the department to analyze marijuana cultivated for medical use. See Arizona Laws 36-2801
• Independent third-party laboratory agent: means an owner, employee or volunteer of a certified independent third-party laboratory who is at least twenty-one years of age and who has not been convicted of an excluded felony offense. See Arizona Laws 36-2801
• Institutional investor: means a person who in the regular course of business makes commercial mortgage loans of more than two hundred fifty thousand dollars that are funded exclusively from the institutional investor's own resources. See Arizona Laws 6-971
• Investor: means a person who directly or indirectly provides monies to a commercial mortgage banker that are, or are intended to be, used to make a loan, and any person who purchases a loan, or any interest in a loan, from a commercial mortgage banker or in a transaction that has been directly or indirectly arranged or negotiated by a commercial mortgage banker. See Arizona Laws 6-971
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Landowner: means any owner of a legal or equitable interest in real property, including the heirs, devisees, successors, assigns and personal representative of the owner, or a representative authorized by a landowner to submit to a city or town a development application for a property for approval. See Arizona Laws 9-1201
• License: means a license issued under this article. See Arizona Laws 6-941
• License: means a license issued under this article. See Arizona Laws 6-971
• Licensee: means a person licensed under this article. See Arizona Laws 6-941
• Licensee: means a person who is licensed under this article. See Arizona Laws 6-971
• Lien: A claim against real or personal property in satisfaction of a debt.
• Marijuana: means all parts of any plant of the genus cannabis whether growing or not, and the seeds of such plant. See Arizona Laws 36-2801
• Medical use: means the acquisition, possession, cultivation, manufacture, use, administration, delivery, transfer or transportation of marijuana or paraphernalia relating to the administration of marijuana to treat or alleviate a registered qualifying patient's debilitating medical condition or symptoms associated with the patient's debilitating medical condition. See Arizona Laws 36-2801
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage banking loan: means a loan which is funded exclusively from the mortgage banker's own resources, which is directly or indirectly secured by a mortgage or deed of trust or any lien interest on real estate located in this state and which is created with the consent of the owner of the real property. See Arizona Laws 6-941
• Mortgage loan: means any loan, other than a mortgage banking loan, secured by a mortgage or deed of trust or any lien interest on real estate located in this state and created with the consent of the owner of the real estate. See Arizona Laws 6-941
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Nonprofit medical marijuana dispensary: means a not-for-profit entity that acquires, possesses, cultivates, manufactures, delivers, transfers, transports, supplies, sells or dispenses marijuana or related supplies and educational materials to cardholders. See Arizona Laws 36-2801
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Own resources: means any of the following:

  (a) Cash, corporate capital, warehouse credit lines at commercial banks, savings banks or savings and loan associations or other sources that are liability items on the person's financial statements. See Arizona Laws 6-971

• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Physician: means a doctor of medicine who holds a valid and existing license to practice medicine pursuant to Title 32, Chapter 13 or its successor, a doctor of osteopathic medicine who holds a valid and existing license to practice osteopathic medicine pursuant to Title 32, Chapter 17 or its successor, a naturopathic physician who holds a valid and existing license to practice naturopathic medicine pursuant to Title 32, Chapter 14 or its successor or a homeopathic physician who holds a valid and existing license to practice homeopathic medicine pursuant to Title 32, Chapter 29 or its successor. See Arizona Laws 36-2801
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Property: means all real property subject to zoning regulations and restrictions by a city or town. See Arizona Laws 9-1201
• Property: includes both real and personal property. See Arizona Laws 1-215
• Protected development right: means the right to undertake and complete the development and use of property under the terms and conditions of a protected development right plan and this article, without compliance with subsequent changes in zoning regulations and development standards, except as provided by section 9-1204. See Arizona Laws 9-1201
• Protected development right plan: means a plan submitted by a landowner to a city or town, that, if approved by the legislative body of the city or town and if identified as a protected development right plan at the time it is submitted, grants the landowner, for a specified period of time, a protected development right to undertake and complete the development as shown on the plan. See Arizona Laws 9-1201
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Qualifying patient: means a person who has been diagnosed by a physician as having a debilitating medical condition. See Arizona Laws 36-2801
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Registry identification card: means a document issued by the department that identifies a person as a registered qualifying patient, a registered designated caregiver, a registered nonprofit medical marijuana dispensary agent or a registered independent third-party laboratory agent. See Arizona Laws 36-2801
• Servicing commercial mortgage loans: means collecting payments at a location in this state on commercial mortgage loans, including:

  (a) Principal. See Arizona Laws 6-971

• Trustee: A person or institution holding and administering property in trust.
• Written certification: means a document dated and signed by a physician, stating that in the physician's professional opinion the patient is likely to receive therapeutic or palliative benefit from the medical use of marijuana to treat or alleviate the patient's debilitating medical condition or symptoms associated with the debilitating medical condition. See Arizona Laws 36-2801