CFR > Title 40 > Chapter I > Subchapter A > Part 7 > Subpart A – General
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§ 7.10 | Purpose of this part |
§ 7.15 | Applicability |
§ 7.20 | Responsible agency officers |
§ 7.25 | Definitions |
Terms Used In CFR > Title 40 > Chapter I > Subchapter A > Part 7 > Subpart A - General
- 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
- 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.
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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.
- Personal property: All property that is not real property.
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Statute: A law passed by a legislature.