Terms Used In U.S. Code > Title 26 > Subtitle A > Chapter 1 > Subchapter M > Part I - Regulated Investment Companies

• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• agricultural commodity: as used in this chapter includes any agricultural commodity or product thereof. See 7 USC 1769
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• beginning farmer or rancher: means such term as defined by the Secretary. See 7 USC 1991
• Board: means the Pecan Marketing Board established in section 6005(b) of this title. See 7 USC 6002
• borrower: means any farm borrower who has outstanding obligations to the Secretary under any farmer program loan, without regard to whether the loan has been accelerated, but does not include any farm borrower all of whose loans and accounts have been foreclosed on or liquidated, voluntarily or otherwise. See 7 USC 1991
• commerce: means interstate, foreign, or intrastate commerce. See 7 USC 6002
• commerce: means interstate, foreign, or intrastate commerce. See 7 USC 6102
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• conflict of interest: means a situation in which a member has a direct or indirect financial interest in a corporation, partnership, sole proprietorship, joint venture, or other business entity dealing directly or indirectly with the Board. See 7 USC 6002
• consumer information: means information and programs that will assist consumers and other persons in making evaluations and decisions regarding the purchase, preparation, and use of pecans. See 7 USC 6002
• consumer information: means information and programs that will assist consumers and other persons in making evaluations and decisions regarding the purchase, preparation, and use of mushrooms. See 7 USC 6102
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• corporation: includes associations, joint-stock companies, and insurance companies. See 26 USC 7701
• 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.
• Council: means the Mushroom Council established under section 6104(b) of this title. See 7 USC 6102
• county: includes a parish, or any other equivalent subdivision of a State or Territory of the United States. See 1 USC 2
• Department: means the Department of Agriculture. See 7 USC 6002
• Department: means the Department of Agriculture. See 7 USC 6102
• Dependent: A person dependent for support upon another.
• direct loan: means a loan made or insured from funds in the account created by section 1929 of this title. See 7 USC 1991
• district: means a geographical area of the United States, as determined by the Board and approved by the Secretary, in which there is produced approximately one-fourth of the volume of pecans produced in the United States. See 7 USC 6002
• domestic: when applied to a corporation or partnership means created or organized in the United States or under the law of the United States or of any State unless, in the case of a partnership, the Secretary provides otherwise by regulations. See 26 USC 7701
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• 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.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• farmer: includes a person who is engaged in, or who, with assistance afforded under this chapter, intends to engage in, fish farming. See 7 USC 1991
• farming: shall be deemed to include fish farming. See 7 USC 1991
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• first handler: means the first person who buys or takes possession of pecans from a grower for marketing. See 7 USC 6002
• first handler: means any person, as described in an order issued under this chapter, who receives or otherwise acquires mushrooms from a producer and prepares for marketing or markets such mushrooms, or who prepares for marketing or markets mushrooms of that person's own production. See 7 USC 6102
• 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.
• foreign: when applied to a corporation or partnership means a corporation or partnership which is not domestic. See 26 USC 7701
• Fraud: Intentional deception resulting in injury to another.
• grower: means any person engaged in the production and sale of pecans in the United States who owns, or who shares the ownership and risk of loss of, such pecans. See 7 USC 6002
• grower-sheller: means a person who&mdash. See 7 USC 6002
• importer: means any person who imports pecans from outside of the United States for sale in the United States. See 7 USC 6002
• importer: means any person who imports, on average, over 500,000 pounds of mushrooms annually from outside the United States. See 7 USC 6102
• in-shell pecan: means a pecan that has a shell that has not been removed. See 7 USC 6002
• including: when used in a definition contained in this title shall not be deemed to exclude other things otherwise within the meaning of the term defined. See 26 USC 7701
• individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
• industry information: means information and programs that will lead to the development of new markets and marketing strategies, increased efficiency, and activities to enhance the image of the pecan industry. See 7 USC 6002
• industry information: means information and programs that are designed to lead to the development of new markets and marketing strategies, increased efficiency, and activities to enhance the image of the mushroom industry. See 7 USC 6102
• insure: as used in this chapter includes guarantee, which means to guarantee the payment of a loan originated, held, and serviced by a private financial agency or other lender approved by the Secretary. See 7 USC 1991
• 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}
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• 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.
• 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}
• Legacy: A gift of property made by will.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Majority leader: see Floor Leaders
• marketing: means the sale or other disposition of mushrooms in any channel of commerce. See 7 USC 6102
• member: means a member of the Board. See 7 USC 6002
• Minority leader: See Floor Leaders
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• mushrooms: means all varieties of cultivated mushrooms grown within the United States for the fresh market, or imported into the United States for the fresh market, that are marketed, except that such term shall not include mushrooms that are commercially marinated, canned, frozen, cooked, blanched, dried, packaged in brine, or otherwise processed, as may be determined by the Secretary. See 7 USC 6102
• 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.
• officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
• Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
• Oversight: Committee review of the activities of a Federal agency or program.
• owner-operator: shall include in the State of Hawaii the lessee-operator of real property in any case in which the Secretary determines that such real property cannot be acquired in fee simple by such lessee-operator, that adequate security is provided for the loan with respect to such real property for which such lessee-operator applies under this chapter, and that there is a reasonable probability of accomplishing the objectives and repayment of such loan. See 7 USC 1991
• partnership: includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation. See 26 USC 7701
• 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.
• pecan: means the nut of the pecan tree carya illinoensis. See 7 USC 6002
• person: shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation. See 26 USC 7701
• person: means any individual, group of individuals, partnership, corporation, association, cooperative, or any other entity. See 7 USC 6002
• person: means any individual, group of individuals, partnership, corporation, association, cooperative, or any other legal entity. See 7 USC 6102
• Personal property: All property that is not real property.
• plan: means a plan issued under section 6003 of this title. See 7 USC 6002
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• producer: means any person engaged in the production of mushrooms who owns or who shares the ownership and risk of loss of such mushrooms and who produces, on average, over 500,000 pounds of mushrooms per year. See 7 USC 6102
• promotion: means any action taken by the Board, pursuant to this chapter, to present a favorable image of pecans to the public with the express intent of improving the competitive position of pecans in the marketplace and stimulating sales of pecans, including paid advertising. See 7 USC 6002
• promotion: means any action determined by the Secretary to enhance the image or desirability of mushrooms, including paid advertising. See 7 USC 6102
• qualified beginning farmer or rancher: means an applicant, regardless of whether the applicant is participating in a program under section 1935 of this title&mdash. See 7 USC 1991
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Remand: When an appellate court sends a case back to a lower court for further proceedings.
• research: means any type of test, study, or analysis designed to advance the image, desirability, usage, marketability, production, product development, or quality of pecans. See 7 USC 6002
• research: means any type of study to advance the image, desirability, marketability, production, product development, quality, or nutritional value of mushrooms. See 7 USC 6102
• Secretary: means the Secretary of Agriculture, unless otherwise specified in this chapter. See 7 USC 1732
• Secretary: means the Secretary of the Treasury or his delegate. See 26 USC 7701
• Secretary: means the Secretary of Agriculture. See 7 USC 6002
• Secretary: means the Secretary of Agriculture. See 7 USC 6102
• shareholder: includes a member in an association, joint-stock company, or insurance company. See 26 USC 7701
• shell: means to remove the shell from an in-shell pecan. See 7 USC 6002
• sheller: means any person who&mdash. See 7 USC 6002
• State: shall include each of the several States, the Commonwealth of Puerto Rico, the Virgin Islands of the United States, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and, to the extent the Secretary determines it to be feasible and appropriate, the Trust Territory of the Pacific Islands. See 7 USC 1991
• State: shall be construed to include the District of Columbia, where such construction is necessary to carry out provisions of this title. See 26 USC 7701
• State: means a State, the District of Columbia, the Commonwealth of Puerto Rico, or any other territory or possession of the United States. See 1 USC 7
• State: means any of the several States, the District of Columbia and the Commonwealth of Puerto Rico. See 7 USC 6002
• Statute: A law passed by a legislature.
• stock: includes shares in an association, joint-stock company, or insurance company. See 26 USC 7701
• Subpoena: A command to a witness to appear and give testimony.
• taxable year: means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the taxable income is computed under subtitle A. See 26 USC 7701
• taxpayer: means any person subject to any internal revenue tax. See 26 USC 7701
• Testify: Answer questions in court.
• transaction: includes a series of transactions. See 26 USC 7701
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• United States: when used in a geographical sense includes only the States and the District of Columbia. See 26 USC 7701
• United States: means collectively the several States, the District of Columbia, and the Commonwealth of Puerto Rico. See 7 USC 6002
• United States: include the 50 States of the United States, the District of Columbia, and the Commonwealth of Puerto Rico. See 7 USC 6102
• writing: includes printing and typewriting and reproductions of visual symbols by photographing, multigraphing, mimeographing, manifolding, or otherwise. See 1 USC 1