Terms Used In Vermont Statutes > Title 8 > Chapter 222 - Powers

• Administrator: means the Commissioner of Financial Regulation. See
• Annual meeting: when applied to towns shall mean the annual town meeting in March or an adjournment thereof. See
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appraisal: A determination of property value.
• 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}
• buyer: means a person who buys or agrees to buy goods from a retail seller in a retail installment transaction, or who obtains services or agrees to have services furnished or rendered from a retail seller in a retail installment transaction. See
• Cash price: means the minimum price for which the goods and services subject to the retail installment contract or the retail charge agreement, or for which other goods and services of like kind and quality, may be purchased for cash from the seller by the buyer, as stated in the retail installment contract or the retail charge agreement. See
• Commission: means the State Ethics Commission established under subchapter 3 of this chapter. See
• Commissioner: means the Commissioner of Financial Regulation. See
• Commissioner: means the Commissioner of Financial Regulation of Vermont. See
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• contract: means a contract entered into in this State and designated as a retail installment transaction, but not a retail charge agreement, or a document reflecting a sale under it, evidencing an agreement to pay the retail purchase price of goods or any part thereof in two or more installments over a period of time, and pursuant to which title to, or a lien upon, or a security interest in, the goods is retained or taken by the retail seller to secure the payment of a price that includes the charge as limited by section 2405 of this title. See
• Conviction: A judgement of guilt against a criminal defendant.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
• Domestic partner: means an individual in an enduring domestic relationship of a spousal nature with the Executive officer or the public servant, provided the individual and Executive officer or public servant:

• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Executive officer: means :

• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fair market value: means the price the leased property would be sold for in a transaction between willing and informed parties in an arms-length transaction. See
• Farmer: means any person engaged in farming. See
• Farming: means those activities described in 10 V. See
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• gender identity: means an individual's actual or perceived gender identity, or gender-related characteristics intrinsically related to an individual's gender or gender-identity, regardless of the individual's assigned sex at birth. See
• Goods: means all tangible personal chattels when purchased primarily for personal, family, or household use and not for commercial, industrial, or agricultural use, but not including money, motor vehicles, things in action, or intangible personal property other than merchandise certificates or coupons as described in this subdivision. See
• Governmental conduct regulated by law: means conduct by an individual in regard to the operation of State government that is restricted or prohibited by law and includes:

• Holder: means the retail seller of the motor vehicle or the sales finance company or other assignee if the retail installment contract is purchased or otherwise acquired by a sales finance company or other assignee. See
• Holder: means the retail seller of the goods or services, or the assignee if the retail installment contract or the retail charge agreement or any indebtedness thereunder has been sold or otherwise transferred. See
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• 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.
• Justice: when applied to a person, other than a Justice of the Supreme Court, shall mean a justice of the peace for the county for which he or she is elected or appointed. See
• lease: means a lease of property to a farmer under which:

• Lessee: means a person who acquires the right to possession and use of leased property under an agricultural finance lease. See
• Lessor: means a person who transfers the right to possession and use of leased property under an agricultural finance lease, and agents, successors, and assigns of the lessor. See
• Month: shall mean a calendar month and "year" shall mean a calendar year and be equivalent to the expression "year of our Lord. See
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• Oath: shall include affirmation where by law an affirmation may be substituted. See
• Oath: A promise to tell the truth.
• Official fees: means the filing or other fees required by law to be paid to a public officer to perfect the interest or lien on the goods retained or taken by a retail seller under a retail installment contract. See
• Person: means any individual, group, business entity, association, or organization. See
• Person: means an individual, partnership, joint venture, corporation, banking organization, association, or any other group however organized. See
• Personal estate: shall include all property other than real estate. See
• Personal property: All property that is not real property.
• Principal balance: means the cash price of the goods and services that are the subject matter of a retail installment contract plus the amount, if any, included therein, if a separate identified charge is made therefor and stated in the contract, for insurance and official fees, less the amount of the buyer's down payment in money or goods, or both. See
• property: means personal property leased by a lessor to a farmer lessee for use in farming, including goods, livestock, equipment and machinery, bulk milk tanks, silos, manure storage systems, tools, fixtures that were personal property at the time the lease was entered into, and accessories. See
• Quorum: The number of legislators that must be present to do business.
• real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Retail charge agreement: means an agreement other than a retail installment contract that prescribed the terms of retail installment transactions that may be made thereafter from time to time under it, under which the buyer's total unpaid balance under the agreement, whenever incurred, is payable in one or more deferred installments and under the terms of which the retail buyer pays a price that includes a charge as limited by section 2406 of this title, which charge is to be computed in relation to the buyer's unpaid balance from time to time. See
• said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
• seller: means a person regularly and principally engaged in a business of selling goods to retail buyers. See
• Service of process: The service of writs or summonses to the appropriate party.
• Services: means :

• sexual orientation: means female or male homosexuality, heterosexuality, or bisexuality. See
• Statute: A law passed by a legislature.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• transaction: means any transaction in which a retail buyer purchases goods or services for a price consisting of the cash price and other amounts as limited by this chapter and agrees under a retail installment contract or retail charge agreement to pay a part or all of the price in one or more deferred installments. See
• Trustee: A person or institution holding and administering property in trust.
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• vehicle: means and is limited to any automobile, mobile home, motorcycle, truck, truck-tractor, trailer, semi-trailer, and bus designed and used primarily to transport persons or property on a public highway, excepting, however, any boat trailer and any vehicle propelled or drawn exclusively by muscular power or that is designed to run only on rails or tracks. See