Terms Used In U.S. Code > Title 16 > Chapter 75 - High Seas Fishing Compliance

• Agreement: means the Agreement to Promote Compliance with International Conservation and Management Measures by Fishing Vessels on the High Seas, adopted by the Conference of the Food and Agriculture Organization of the United Nations on November 24, 1993. See 16 USC 5502
• borrower: as used in this part shall include a parent borrower under this section. See 20 USC 1078-2
• Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
• default: includes only such defaults as have existed for (1) 270 days in the case of a loan which is repayable in monthly installments, or (2) 330 days in the case of a loan which is repayable in less frequent installments. See 20 USC 1085
• eligible institution: means an institution of higher education, as defined in section 1002 of this title, except that, for the purposes of sections 1077(a)(2)(C)(i) and 1078(b)(1)(M)(i) of this title, an eligible institution includes any institution that is within this definition without regard to whether such institution is participating in any program under this subchapter and includes any institution ineligible for participation in any program under this part pursuant to paragraph (2) of this subsection. See 20 USC 1085
• eligible lender: means &mdash. See 20 USC 1085
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• FAO: means the Food and Agriculture Organization of the United Nations. See 16 USC 5502
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Forbearance: A means of handling a delinquent loan. A
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• guaranty agency: means any State or nonprofit private institution or organization with which the Secretary has an agreement under section 1078(b) of this title. See 20 USC 1085
• high seas: means the waters beyond the territorial sea or exclusive economic zone (or the equivalent) of any nation, to the extent that such territorial sea or exclusive economic zone (or the equivalent) is recognized by the United States. See 16 USC 5502
• high seas fishing vessel: means any vessel of the United States or subject to the jurisdiction of the United States used or intended for use&mdash. See 16 USC 5502
• holder: means an eligible lender who owns a loan. See 20 USC 1085
• insurance beneficiary: means the insured or its authorized representative assigned in accordance with section 1079(d) of this title. See 20 USC 1085
• international conservation and management measures: means measures to conserve or manage one or more species of living marine resources that are adopted and applied in accordance with the relevant rules of international law, as reflected in the 1982 United Nations Convention on the Law of the Sea, and that are recognized by the United States. See 16 USC 5502
• length: means &mdash. See 16 USC 5502
• Lien: A claim against real or personal property in satisfaction of a debt.
• line of credit: means an arrangement or agreement between the lender and the borrower whereby a loan is paid out by the lender to the borrower in annual installments, or whereby the lender agrees to make, in addition to the initial loan, additional loans in subsequent years. See 20 USC 1085
• person: means any individual (whether or not a citizen or national of the United States), any corporation, partnership, association, or other entity (whether or not organized or existing under the laws of any State), and any Federal, State, local, or foreign government or any entity of any such government. See 16 USC 5502
• Secretary: means the Secretary of Commerce. See 16 USC 5502
• Subpoena: A command to a witness to appear and give testimony.
• vessel of the United States: means &mdash. See 16 USC 5502