§ 1 Short title
§ 1a Definitions
§ 1b Requirements of Secretary of the Treasury regarding exemption of foreign exchange swaps and foreign exchange forwards from definition of the term “swap”
§ 2 Jurisdiction of Commission; liability of principal for act of agent; Commodity Futures Trading Commission; transaction in interstate commerce
§ 5 Findings and purpose
§ 6 Regulation of futures trading and foreign transactions
§ 6a Excessive speculation
§ 6b Contracts designed to defraud or mislead
§ 6b-1 Enforcement authority
§ 6c Prohibited transactions
§ 6d Dealing by unregistered futures commission merchants or introducing brokers prohibited; duties in handling customer receipts; conflict-of-interest systems and procedures; Chief Compliance Officer; rules to avoid duplicative regulations; swap requirements
§ 6e Dealings by unregistered floor trader or broker prohibited
§ 6f Registration and financial requirements; risk assessment
§ 6g Reporting and recordkeeping
§ 6h False self-representation as registered entity member prohibited
§ 6i Reports of deals equal to or in excess of trading limits; books and records; cash and controlled transactions
§ 6j Restrictions on dual trading in security futures products on designated contract markets and registered derivatives transaction execution facilities
§ 6k Registration of associates of futures commission merchants, commodity pool operators, and commodity trading advisors; required disclosure of disqualifications; exemptions for associated persons
§ 6l Commodity trading advisors and commodity pool operators; Congressional finding
§ 6m Use of mails or other means or instrumentalities of interstate commerce by commodity trading advisors and commodity pool operators; relation to other law
§ 6n Registration of commodity trading advisors and commodity pool operators; application; expiration and renewal; record keeping and reports; disclosure; statements of account
§ 6o Fraud and misrepresentation by commodity trading advisors, commodity pool operators, and associated persons
§ 6p Standards and examinations
§ 6q Special procedures to encourage and facilitate bona fide hedging by agricultural producers
§ 6r Reporting and recordkeeping for uncleared swaps
§ 6s Registration and regulation of swap dealers and major swap participants
§ 6t Large swap trader reporting
§ 7 Designation of boards of trade as contract markets
§ 7a-1 Derivatives clearing organizations
§ 7a-2 Common provisions applicable to registered entities
§ 7b Suspension or revocation of designation as registered entity
§ 7b-1 Designation of securities exchanges and associations as contract markets
§ 7b-2 Privacy
§ 7b-3 Swap execution facilities
§ 8 Application for designation as contract market or derivatives transaction execution facility; time; suspension or revocation of designation; hearing; review by court of appeals
§ 9 Prohibition regarding manipulation and false information
§ 9a Assessment of money penalties
§ 9b Rules prohibiting deceptive and other abusive telemarketing acts or practices
§ 9c Notice of investigations and enforcement actions
§ 10a Cooperative associations and corporations, exclusion from board of trade; rules of board inapplicable to payment of compensation by association
§ 11 Vacation on request of designation or registration as “registered entity”; redesignation or reregistration
§ 12 Public disclosure
§ 12a Registration of commodity dealers and associated persons; regulation of registered entities
§ 12b Trading ban violations; prohibition
§ 12c Disciplinary actions
§ 12d Commission action for noncompliance with export sales reporting requirements
§ 13 Violations generally; punishment; costs of prosecution
§ 13-1 Violations, prohibition against dealings in motion picture box office receipts or onion futures; punishment
§ 13a Nonenforcement of rules of government or other violations; cease and desist orders; fines and penalties; imprisonment; misdemeanor; separate offenses
§ 13a-1 Enjoining or restraining violations
§ 13a-2 Jurisdiction of States
§ 13b Manipulations or other violations; cease and desist orders against persons other than registered entities; punishment
§ 13c Responsibility as principal; minor violations
§ 15b Cotton futures contracts
§ 16 Commission operations
§ 16a Service fees and National Futures Association study
§ 17 Separability
§ 17a Separability of 1936 amendment
§ 17b Separability of 1968 amendment
§ 18 Complaints against registered persons
§ 19 Consideration of costs and benefits and antitrust laws
§ 20 Market reports
§ 21 Registered futures associations
§ 22 Research and information programs; reports to Congress
§ 23 Standardized contracts for certain commodities
§ 24 Customer property with respect to commodity broker debtors; definitions
§ 24a Swap data repositories
§ 25 Private rights of action
§ 26 Commodity whistleblower incentives and protection
§ 27 Definitions
§ 27a Exclusion of identified banking product
§ 27c Exclusion of certain other identified banking products
§ 27d Administration of the predominance test
§ 27f Contract enforcement

Terms Used In U.S. Code > Title 7 > Chapter 1 - Commodity Exchanges

  • account: means an item for which appropriations are made in any appropriation Act and, for items not provided for in appropriation Acts, such term means an item for which there is a designated budget account identification code number in the President's budget. See 2 USC 900
  • Acquittal:
    1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
    2. A verdict of "not guilty."
     
  • additional new budget authority: means the amount provided for a fiscal year, in excess of $273,000,000, in an appropriation Act and specified to pay for the costs of continuing disability reviews, redeterminations, co-operative disability investigation units, and fraud prosecutions under the heading "Limitation on Administrative Expenses" for the Social Security Administration. See 2 USC 901
  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Adjournment sine die: The end of a legislative session "without day." These adjournments are used to indicate the final adjournment of an annual or the two-year session of legislature.
  • 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.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • agency: has the meaning given that term in section 551(1) of title 5. See 2 USC 1602
  • Agreement: means the Agreement on Port State Measures to Prevent, Deter and Eliminate Illegal, Unreported and Unregulated Fishing, done at the Food and Agriculture Organization of the United Nations, in Rome, Italy, November 22, 2009, and signed by the United States November 22, 2009. See 16 USC 7402
  • Allegation: something that someone says happened.
  • Alternate valuation date: The earlier of the date six months after the decedent
  • alternative trading system: means an organization, association, or group of persons that--

    (A) is registered as a broker or dealer pursuant to section 15(b) of the Securities Exchange Act of 1934 [15 U. See 7 USC 1a

  • 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.
  • Amendment in the nature of a substitute: An amendment that would strike out the entire text of a bill or other measure and insert a different full text.
  • Amortization: Paying off a loan by regular installments.
  • AMT: means the Alternative Minimum Tax for individuals under sections 55-59 of title 26, the term "EGTRRA" means the Economic Growth and Tax Relief Reconciliation Act of 2001 (Public Law 107-16), and the term "JGTRRA" means the Jobs and Growth Tax Relief and 1 Reconciliation Act of 2003 (Public Law 108-27). See 2 USC 932
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • anonymous work: is a work on the copies or phonorecords of which no natural person is identified as author. See 17 USC 101
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • 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.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • applicable program: means any program for which the Secretary or the Department has administrative responsibility as provided by law or by delegation of authority pursuant to law. See 20 USC 1221
  • applicant: means with respect to activities described in section 3984(a) of this title an institution of higher education and the other participants described in paragraph (3) of section 3984(a) of this title, and with respect to activities described in section 3984(b) of this title a local educational agency and the other participants described in paragraph (3) of section 3984(b) of this title. See 20 USC 3982
  • applicant: means a corporation applying for the right to establish, operate, and maintain a foreign-trade zone. See 19 USC 81a
  • Appraisal: A determination of property value.
  • 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
  • area studies: means a program of comprehensive study of the aspects of a society or societies, including study of its history, culture, economy, politics, international relations and languages. See 20 USC 1132
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • assets: means cash on hand, including the amount in checking and savings accounts, time deposits, money market funds, trusts, stocks, bonds, other securities, mutual funds, tax shelters, qualified education benefits (except as provided in paragraph (3)), and the net value of real estate, income producing property, and business and farm assets. See 20 USC 1087vv
  • 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.
  • Attorney General: means the Attorney General of the United States or his designee. See 34 USC 10251
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Balanced budget: A budget in which receipts equal outlays.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • baseline: means the projection (described in section 907 of this title) of current-year levels of new budget authority, outlays, receipts, and the surplus or deficit into the budget year and the outyears. See 2 USC 900
  • BBEDCA: means the Balanced Budget and Emergency Deficit Control Act of 1985. See 2 USC 932
  • 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
  • Bequest: Property gifted by will.
  • Board: means the Board of Directors of the Office of Congressional Workplace Rights. See 2 USC 1301
  • Board: means the Board which is established to carry out the provisions of this chapter. See 19 USC 81a
  • Board: means the National Recording Preservation Board. See 2 USC 1741
  • Board: means the Merit Systems Protection Board under chapter 12 of title 5. See 3 USC 401
  • Board: means the Board of Governors of the Federal Reserve System. See 7 USC 1a
  • board of trade: means any organized exchange or other trading facility. See 7 USC 1a
  • borrower: as used in this part shall include a parent borrower under this section. See 20 USC 1078-2
  • breach: means , for any fiscal year, the amount (if any) by which new budget authority or outlays for that year (within a category of discretionary appropriations) is above that category's discretionary spending limit for new budget authority or outlays for that year, as the case may be. See 2 USC 900
  • Budget authority: Authority provided by law to enter into obligations that will result in outlays of Federal funds. Budget authority may be classified by the period of availability (one-year, multiyear, no-year), by the timing of congressional action (current or permanent), or by the manner of determining the amount available (definite or indefinite).
  • budget year: means , with respect to a session of Congress, the fiscal year of the Government that starts on October 1 of the calendar year in which that session begins. See 2 USC 900
  • budgetary effects: means the amount by which PAYGO legislation changes outlays flowing from direct spending or revenues relative to the baseline and shall be determined on the basis of estimates prepared under section 933 of this title. See 2 USC 932
  • budgetary resources: means new budget authority, unobligated balances, direct spending authority, and obligation limitations. See 2 USC 900
  • business assets: means property that is used in the operation of a trade or business, including real estate, inventories, buildings, machinery, and other equipment, patents, franchise rights, and copyrights. See 20 USC 1087vv
  • Calendar of Business: A Senate publication sent to each lawmaker's office (and other offices) every day the Senate is in session. It contains information on, for instance, measures reported from the various standing committees, bills in conference, and the status of appropriation bills.
  • Canal: means the Chesapeake and Ohio Canal, including its towpath. See 16 USC 410y
  • category: means the subsets of discretionary appropriations in section 901(c) of this title. See 2 USC 900
  • Caucus: From the Algonquian Indian language, a caucus meant "to meet together." An informal organization of members of the legislature that exists to discuss issues of mutual concern and possibly to perform legislative research and policy planning for its members. There are regional, political or ideological, ethnic, and economic-based caucuses.
  • CBO: means the Director of the Congressional Budget Office. See 2 USC 900
  • Chair: means the Chair of the Board of Directors of the Office of Congressional Workplace Rights. See 2 USC 1301
  • Chambers: A judge's office.
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
  • China Review Commission: means the United States-China Economic and Security Review Commission established under section 7002 of title 22, as enacted into law by section 1 of Public Law 106-398. See 2 USC 1301
  • Circumstantial evidence: All evidence except eyewitness testimony.
  • cleared swap: means any swap that is, directly or indirectly, submitted to and cleared by a derivatives clearing organization registered with the Commission. See 7 USC 1a
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • client: means any person or entity that employs or retains another person for financial or other compensation to conduct lobbying activities on behalf of that person or entity. See 2 USC 1602
  • Cloture: The only procedure by which the Senate can vote to place a time limit on consideration of a bill or other matter, and thereby overcome a filibuster. Under the cloture rule (Rule XXII), the Senate may limit consideration of a pending matter to 30 additional hours, but only by vote of three-fifths of the full Senate, normally 60 votes.
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • cohort default rate: means , for any fiscal year in which 30 or more current and former students at the institution enter repayment on loans under section 1078, 1078-1,1 or 1078-8 of this title received for attendance at the institution, the percentage of those current and former students who enter repayment on such loans (or on the portion of a loan made under section 1078-3 of this title that is used to repay any such loans) received for attendance at that institution in that fiscal year who default before the end of the second fiscal year following the fiscal year in which the students entered repayment. See 20 USC 1085
  • collective work: is a work, such as a periodical issue, anthology, or encyclopedia, in which a number of contributions, constituting separate and independent works in themselves, are assembled into a collective whole. See 17 USC 101
  • commerce: means commerce between any State or the District of Columbia and any place outside thereof, or between points within the same State or the District of Columbia but through any place outside thereof, or within the District of Columbia. See 7 USC 62
  • Commission: means the Commodity Futures Trading Commission established under section 2(a)(2) of this title. See 7 USC 1a
  • Commission: means the United States International Trade Commission. See 19 USC 3002
  • Commission: means the Keweenaw Historic Preservation Advisory Commission established by section 410yy-8 of this title. See 16 USC 410yy-1
  • Commissioner: means the Commissioner of Internal Revenue. See 26 USC 7701
  • Commissioner: means the Commissioner of Internal Revenue. See 26 USC 7701
  • Committee amendment: An amendment recommended by a committee in reporting a bill or other measure.
  • commodity: means wheat, cotton, rice, corn, oats, barley, rye, flaxseed, grain sorghums, mill feeds, butter, eggs, Solanum tuberosum (Irish potatoes), wool, wool tops, fats and oils (including lard, tallow, cottonseed oil, peanut oil, soybean oil, and all other fats and oils), cottonseed meal, cottonseed, peanuts, soybeans, soybean meal, livestock, livestock products, and frozen concentrated orange juice, and all other goods and articles, except onions (as provided by section 13-1 of this title) and motion picture box office receipts (or any index, measure, value, or data related to such receipts), and all services, rights, and interests (except motion picture box office receipts, or any index, measure, value or data related to such receipts) in which contracts for future delivery are presently or in the future dealt in. See 7 USC 1a
  • commodity pool: means any investment trust, syndicate, or similar form of enterprise operated for the purpose of trading in commodity interests, including any--

    (i) commodity for future delivery, security futures product, or swap. See 7 USC 1a

  • commodity pool operator: means any person--

    (i) engaged in a business that is of the nature of a commodity pool, investment trust, syndicate, or similar form of enterprise, and who, in connection therewith, solicits, accepts, or receives from others, funds, securities, or property, either directly or through capital contributions, the sale of stock or other forms of securities, or otherwise, for the purpose of trading in commodity interests, including any--

    (I) commodity for future delivery, security futures product, or swap. See 7 USC 1a

  • commodity trading advisor: means any person who--

    (i) for compensation or profit, engages in the business of advising others, either directly or through publications, writings, or electronic media, as to the value of or the advisability of trading in--

    (I) any contract of sale of a commodity for future delivery, security futures product, or swap. See 7 USC 1a

  • 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.
  • community development corporation: means a private, nonprofit corporation whose board of directors is comprised of business, civic and community leaders, and whose principal purpose includes the provision of low-income housing or community economic development projects that primarily benefit low-income individuals and communities. See 34 USC 12211
  • compilation: includes collective works. See 17 USC 101
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • computer program: is a set of statements or instructions to be used directly or indirectly in a computer in order to bring about a certain result. See 17 USC 101
  • Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
  • Conferees: Legislators appointed to serve on conference committees. They are also called "managers." Conferees are usually appointed from the committee or committees that reported the legislation; they are expected to try and uphold their chamber's position on measures when they negotiate with conferees from the other chamber.
  • Conference committee: A temporary, ad hoc panel composed of conferees from both chamber of a legislature which is formed for the purpose of reconciling differences in legislation that has passed both chambers. Conference committees are usually convened to resolve bicameral differences on major and controversial legislation.
  • Conference report: The compromise product negotiated by the conference committee. The "conference report" is submitted to each chamber for its consideration, such as approval or disapproval.
  • Congressional Record: The substantially verbatim account of daily proceedings in Congress. It is printed for each day Congress is in session. At the back of each daily issue is the "Daily Digest," which summarizes the day's floor and committee activities.
  • Congressional-Executive China Commission: means the Congressional-Executive Commission on the People's Republic of China established under title III of the U. See 2 USC 1301
  • construction: includes construction and initial equipment of new buildings, and expansion, remodeling, and alteration of existing buildings and equipment therein, including architect's services, but excluding off-site improvements. See 20 USC 4351
  • Continuance: Putting off of a hearing ot trial until a later time.
  • continuing disability reviews: means continuing disability reviews under sections 221(i) and 1614(a)(4) of the Social Security Act [42 U. See 2 USC 901
  • Contract: A legal written agreement that becomes binding when signed.
  • contract of sale: includes sales, agreements of sale, and agreements to sell. See 7 USC 1a
  • Convention: means the International Convention on the Harmonized Commodity Description and Coding System, done at Brussels on June 14, 1983, and the Protocol thereto, done at Brussels on June 24, 1986, submitted to the Congress on June 15, 1987. See 19 USC 3002
  • Conviction: A judgement of guilt against a criminal defendant.
  • cooperative association of producers: means any cooperative association, corporate, or otherwise, not less than 75 percent in good faith owned or controlled, directly or indirectly, by producers of agricultural products and otherwise complying with sections 291 and 292 of this title, including any organization acting for a group of such associations and owned or controlled by such associations, except that business done for or with the United States, or any agency thereof, shall not be considered either member or nonmember business in determining the compliance of any such association with this chapter. See 7 USC 1a
  • cooperative bank: means an institution without capital stock organized and operated for mutual purposes and without profit, which--

    (A) is subject by law to supervision and examination by State or Federal authority having supervision over such institutions, and

    (B) meets the requirements of subparagraphs (B) and (C) of paragraph (19) of this subsection (relating to definition of domestic building and loan association). See 26 USC 7701

  • cooperative bank: means an institution without capital stock organized and operated for mutual purposes and without profit, which--

    (A) is subject by law to supervision and examination by State or Federal authority having supervision over such institutions, and

    (B) meets the requirements of subparagraphs (B) and (C) of paragraph (19) of this subsection (relating to definition of domestic building and loan association). See 26 USC 7701

  • copies: includes the material object, other than a phonorecord, in which the work is first fixed. See 17 USC 101
  • Copyright Royalty Judge: is a Copyright Royalty Judge appointed under section 802 of this title, and includes any individual serving as an interim Copyright Royalty Judge under such section. See 17 USC 101
  • corporation: includes associations, joint-stock companies, and insurance companies. See 26 USC 7701
  • corporation: means a public corporation and a private corporation, as defined in this chapter. See 19 USC 81a
  • 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.
  • corporation: includes associations, joint-stock companies, and insurance companies. See 26 USC 7701
  • correctional option: includes community-based incarceration, weekend incarceration, boot camp prison, electronic monitoring of offenders, intensive probation, and any other innovative punishment designed to have the greatest impact on offenders who can be punished more effectively in an environment other than a traditional correctional facility. See 34 USC 10251
  • cotton: means cotton of any variety produced within the continental United States, including linters. See 7 USC 62
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • county: includes a parish, or any other equivalent subdivision of a State or Territory of the United States. See 1 USC 2
  • court: means a tribunal recognized as a part of the judicial branch of a State or of its local government units. See 34 USC 10251
  • covered employee: means any employee of--

    (A) the House of Representatives. See 2 USC 1301

  • covered employee: means any employee of an employing office. See 3 USC 401
  • covered executive branch official: means --

    (A) the President. See 2 USC 1602

  • covered legislative branch official: means --

    (A) a Member of Congress. See 2 USC 1602

  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • criminal justice: means activities pertaining to crime prevention, control, or reduction, or the enforcement of the criminal law, including, but not limited to, police efforts to prevent, control, or reduce crime or to apprehend criminals, including juveniles, activities of courts having criminal jurisdiction, and related agencies (including but not limited to prosecutorial and defender services, juvenile delinquency agencies and pretrial service or release agencies), activities of corrections, probation, or parole authorities and related agencies assisting in the rehabilitation, supervision, and care of criminal offenders, and programs relating to the prevention, control, or reduction of narcotic addiction and juvenile delinquency. See 34 USC 10251
  • Cross examine: Questioning of a witness by the attorney for the other side.
  • current: means , with respect to OMB estimates included with a budget submission under section 1105(a) of title 31, the estimates consistent with the economic and technical assumptions underlying that budget and with respect to estimates made after that budget submission that are not included with it, estimates consistent with the economic and technical assumptions underlying the most recently submitted President's budget. See 2 USC 900
  • current year: means , with respect to a budget year, the fiscal year that immediately precedes that budget year. See 2 USC 900
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • debit: refers to the net total amount, when positive, by which costs recorded on the PAYGO scorecards for a fiscal year exceed savings recorded on those scorecards for that year. See 2 USC 932
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • 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
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the Department of Education. See 20 USC 1221
  • Department: means the Department of Education or any component thereof. See 20 USC 3404
  • Department of Agriculture: means the United States Department of Agriculture. See 7 USC 75
  • Dependent: A person dependent for support upon another.
  • deposit insurance: refers to the expenses of the Federal deposit insurance agencies, and other Federal agencies supervising insured depository institutions, resulting from full funding of, and continuation of, the deposit insurance guarantee commitment in effect under current estimates. See 2 USC 900
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • derivative work: is a work based upon one or more preexisting works, such as a translation, musical arrangement, dramatization, fictionalization, motion picture version, sound recording, art reproduction, abridgment, condensation, or any other form in which a work may be recast, transformed, or adapted. See 17 USC 101
  • derivatives clearing organization: means a clearinghouse, clearing association, clearing corporation, or similar entity, facility, system, or organization that, with respect to an agreement, contract, or transaction--

    (i) enables each party to the agreement, contract, or transaction to substitute, through novation or otherwise, the credit of the derivatives clearing organization for the credit of the parties. See 7 USC 1a

  • Devise: To gift property by will.
  • digital literacy skills: means the skills associated with--

    (A) using technology to enable users to find, evaluate, organize, create, and communicate information. See 20 USC 9101

  • digital transmission: is a transmission in whole or in part in a digital or other non-analog format. See 17 USC 101
  • direct spending: means --

    (A) budget authority provided by law other than appropriation Acts. See 2 USC 900

  • Director: means the Director of the Institute appointed under section 9103 of this title. See 20 USC 9101
  • disaster relief: means activities carried out pursuant to a determination under section 5122(2) of title 42. See 2 USC 901
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • discretionary appropriations: means budgetary resources (except to fund direct-spending programs) provided in appropriation Acts. See 2 USC 900
  • Discretionary spending: Spending (budget authority and outlays)controlled in annual appropriations acts.
  • discretionary spending limit: shall mean the amounts specified in section 901 of this title. See 2 USC 900
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • distribute: means to sell, or to lease, bail, or otherwise transfer, or to offer to sell, lease, bail, or otherwise transfer. See 17 USC 901
  • Docket: A log containing brief entries of court proceedings.
  • 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
  • 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
  • domestic building and loan association: means a domestic building and loan association, a domestic savings and loan association, and a Federal savings and loan association--

    (A) which is subject by law to supervision and examination by State or Federal authority having supervision over such associations. See 26 USC 7701

  • Donee: The recipient of a gift.
  • Donor: The person who makes a gift.
  • educational programs abroad: means programs of study, internships, or service learning outside the United States which are part of a foreign language or other international curriculum at the undergraduate or graduate education levels. See 20 USC 1132
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • electronic trading facility: means a trading facility that--

    (A) operates by means of an electronic or telecommunications network. See 7 USC 1a

  • eligible commercial entity: means , with respect to an agreement, contract or transaction in a commodity--

    (A) an eligible contract participant described in clause (i), (ii), (v), (vii), (viii), or (ix) of paragraph (18)(A) that, in connection with its business--

    (i) has a demonstrable ability, directly or through separate contractual arrangements, to make or take delivery of the underlying commodity. See 7 USC 1a

  • eligible contract participant: means --

    (A) acting for its own account--

    (i) a financial institution. See 7 USC 1a

  • 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 --

    (A) a National or State chartered bank, a mutual savings bank, a savings and loan association, a stock savings bank, or a credit union which--

    (i) is subject to examination and supervision by an agency of the United States or of the State in which its principal place of operation is established, and

    (ii) does not have as its primary consumer credit function the making or holding of loans made to students under this part unless (I) it is a bank which is wholly owned by a State, or a bank which is subject to examination and supervision by an agency of the United States, makes student loans as a trustee pursuant to an express trust, operated as a lender under this part prior to January 1, 1975, and which meets the requirements of this provision prior to July 23, 1992, (II) it is a single wholly owned subsidiary of a bank holding company which does not have as its primary consumer credit function the making or holding of loans made to students under this part, (III) it is a bank (as defined in section 1813(a)(1) of title 12) that is a wholly owned subsidiary of a nonprofit foundation, the foundation is described in section 501(c)(3) of title 26 and exempt from taxation under section 501(a) of such title, and the bank makes loans under this part only to undergraduate students who are age 22 or younger and has a portfolio of such loans that is not more than $5,000,000, or (IV) it is a National or State chartered bank, or a credit union, with assets of less than $1,000,000,000. See 20 USC 1085

  • eligible not-for-profit holder: means an eligible lender under subsection (d) (except for an eligible lender described in subsection (d)(1)(E)) that requests a special allowance payment under section 1087-1(b)(2)(I)(vi)(II) of this title or a payment under section 1141 of this title and that is--

    (A) a State, or a political subdivision, authority, agency, or other instrumentality thereof, including such entities that are eligible to issue bonds described in section 1. See 20 USC 1085

  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • emergency: means a situation that--

    (A) requires new budget authority and outlays (or new budget authority and the outlays flowing therefrom) for the prevention or mitigation of, or response to, loss of life or property, or a threat to national security. See 2 USC 900

  • employee: shall include a full-time life insurance salesman who is considered an employee for the purpose of chapter 21. See 26 USC 7701
  • employee: includes an applicant for employment and a former employee. See 2 USC 1301
  • employee: includes an applicant for employment and a former employee. See 3 USC 401
  • employee: means any individual who is an officer, employee, partner, director, or proprietor of a person or entity, but does not include--

    (A) independent contractors. See 2 USC 1602

  • employee: shall include a full-time life insurance salesman who is considered an employee for the purpose of chapter 21. See 26 USC 7701
  • employee of the House of Representatives: includes an individual occupying a position the pay for which is disbursed by the Chief Administrative Officer of the House of Representatives, or another official designated by the House of Representatives, or any employment position in an entity that is paid with funds derived from the clerk-hire allowance of the House of Representatives but not any such individual employed by any entity listed in subparagraphs (C) through (K) of paragraph (3). See 2 USC 1301
  • employee of the Office of the Architect of the Capitol: includes any employee of the Office of the Architect of the Capitol or the Botanic Garden. See 2 USC 1301
  • employee of the Senate: includes any employee whose pay is disbursed by the Secretary of the Senate, but not any such individual employed by any entity listed in subparagraphs (C) through (K) of paragraph (3). See 2 USC 1301
  • employing office: means --

    (A) the personal office of a Member of the House of Representatives or of a Senator. See 2 USC 1301

  • employing office: means --

    (A) each office, agency, or other component of the Executive Office of the President. See 3 USC 401

  • En banc: In the bench or "full bench." Refers to court sessions with the entire membership of a court participating rather than the usual quorum. U.S. courts of appeals usually sit in panels of three judges, but may expand to a larger number in certain cases. They are then said to be sitting en banc.
  • Engrossed bill: The official copy of a bill or joint resolution passed by a chamber of the legislature.
  • enrolled actuary: means a person who is enrolled by the Joint Board for the Enrollment of Actuaries established under subtitle C of the title III of the Employee Retirement Income Security Act of 1974. See 26 USC 7701
  • enrolled actuary: means a person who is enrolled by the Joint Board for the Enrollment of Actuaries established under subtitle C of the title III of the Employee Retirement Income Security Act of 1974. See 26 USC 7701
  • Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
  • entered: means entered, or withdrawn from warehouse for consumption, in the customs territory of the United States. See 19 USC 3002
  • 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.
  • equipment: includes machinery, utilities, and built-in equipment and any necessary enclosures or structures to house them, and includes all other items necessary for the functioning of a particular facility as a facility for the provision of educational services, including items such as instructional equipment and necessary furniture, printed, published, and audio-visual instructional materials, and books, periodicals, documents, and other related materials. See 20 USC 3982
  • 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.
  • establishment: is a store, shop, or any similar place of business open to the general public for the primary purpose of selling goods or services in which the majority of the gross square feet of space that is nonresidential is used for that purpose, and in which nondramatic musical works are performed publicly. See 17 USC 101
  • evaluation: means the administration and conduct of studies and analyses to determine the impact and value of a project or program in accomplishing the statutory objectives of this chapter. See 34 USC 10251
  • 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.
  • Ex officio: Literally, by virtue of one's office.
  • exchanged basis property: means property having a basis determined under any provision of subtitle A (or under any corresponding provision of prior income tax law) providing that the basis shall be determined in whole or in part by reference to other property held at any time by the person for whom the basis is to be determined. See 26 USC 7701
  • excludable income: means --

    (1) any student financial assistance awarded based on need as determined in accordance with the provisions of this part, including any income earned from work under part C of this subchapter. See 20 USC 1087vv

  • excluded commodity: means --

    (i) an interest rate, exchange rate, currency, security, security index, credit risk or measure, debt or equity instrument, index or measure of inflation, or other macroeconomic index or measure. See 7 USC 1a

  • Executive Calendar: A list of executive business (i.e., treaties and nominations) available for consideration.
  • Executive Director: means the Executive Director of the Office of Congressional Workplace Rights. See 2 USC 1301
  • Executive session: A portion of the Senate's daily session in which it considers executive business.
  • Executor: A male person named in a will to carry out the decedent
  • export education: means educating, teaching and training to provide general knowledge and specific skills pertinent to the selling of goods and services to other countries, including knowledge of market conditions, financial arrangements, laws and procedures. See 20 USC 1132
  • export elevator: means any grain elevator, warehouse, or other storage or handling facility in the United States as determined by the Secretary, from which grain is shipped from the United States to an area outside thereof. See 7 USC 75
  • export grain: means grain for shipment from the United States to any place outside thereof. See 7 USC 75
  • export port location: means a commonly recognized port of export in the United States or Canada, as determined by the Secretary, from which grain produced in the United States is shipped to any place outside the United States. See 7 USC 75
  • Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
  • 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
  • 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.
  • Federal agency: means any establishment in the executive branch of the United States Government. See 19 USC 3002
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • 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
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • fiduciary: means a guardian, trustee, executor, administrator, receiver, conservator, or any person acting in any fiduciary capacity for any person. See 26 USC 7701
  • Fiduciary: A trustee, executor, or administrator.
  • fiduciary: means a guardian, trustee, executor, administrator, receiver, conservator, or any person acting in any fiduciary capacity for any person. See 26 USC 7701
  • financial institution: means --

    (A) a corporation operating under the fifth undesignated paragraph of section 25 of the Federal Reserve Act (12 U. See 7 USC 1a

  • 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.
  • fish: means finfish, mollusks, crustaceans, and all other forms of marine animal and plant life other than marine mammals and birds. See 16 USC 7402
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • floor broker: means any person--

    (i) who, in or surrounding any pit, ring, post, or other place provided by a contract market for the meeting of persons similarly engaged, shall purchase or sell for any other person--

    (I) any commodity for future delivery, security futures product, or swap. See 7 USC 1a

  • floor trader: means any person--

    (i) who, in or surrounding any pit, ring, post, or other place provided by a contract market for the meeting of persons similarly engaged, purchases, or sells solely for such person's own account--

    (I) any commodity for future delivery, security futures product, or swap. See 7 USC 1a

  • food service or drinking establishment: is a restaurant, inn, bar, tavern, or any other similar place of business in which the public or patrons assemble for the primary purpose of being served food or drink, in which the majority of the gross square feet of space that is nonresidential is used for that purpose, and in which nondramatic musical works are performed publicly. See 17 USC 101
  • Forbearance: A means of handling a delinquent loan. A
  • 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
  • foreign: when applied to a corporation or partnership means a corporation or partnership which is not domestic. See 26 USC 7701
  • foreign: when applied to a corporation or partnership means a corporation or partnership which is not domestic. See 26 USC 7701
  • foreign entity: means a foreign principal (as defined in section 1(b) of the Foreign Agents Registration Act of 1938 (22 U. See 2 USC 1602
  • foreign estate: means an estate the income of which, from sources without the United States which is not effectively connected with the conduct of a trade or business within the United States, is not includible in gross income under subtitle A. See 26 USC 7701
  • foreign exchange forward: means a transaction that solely involves the exchange of 2 different currencies on a specific future date at a fixed rate agreed upon on the inception of the contract covering the exchange. See 7 USC 1a
  • foreign exchange swap: means a transaction that solely involves--

    (A) an exchange of 2 different currencies on a specific date at a fixed rate that is agreed upon on the inception of the contract covering the exchange. See 7 USC 1a

  • foreign futures authority: means any foreign government, or any department, agency, governmental body, or regulatory organization empowered by a foreign government to administer or enforce a law, rule, or regulation as it relates to a futures or options matter, or any department or agency of a political subdivision of a foreign government empowered to administer or enforce a law, rule, or regulation as it relates to a futures or options matter. See 7 USC 1a
  • foreign trust: means any trust other than a trust described in subparagraph (E) of paragraph (30). See 26 USC 7701
  • foreign trust: means any trust other than a trust described in subparagraph (E) of paragraph (30). See 26 USC 7701
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • function: includes any duty, obligation, power, authority, responsibility, right, privilege, activity, or program. See 20 USC 3404
  • futures commission merchant: means an individual, association, partnership, corporation, or trust--

    (i) that--

    (I) is--

    (aa) engaged in soliciting or in accepting orders for--

    (AA) the purchase or sale of a commodity for future delivery. See 7 USC 1a

  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • General Counsel: means the General Counsel of the Office of Congressional Workplace Rights. See 2 USC 1301
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • grain: means corn, wheat, rye, oats, barley, flaxseed, sorghum, soybeans, mixed grain, and any other food grains, feed grains, and oilseeds for which standards are established under section 76 of this title. See 7 USC 75
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • grantee: means a corporation to which the privilege of establishing, operating, and maintaining a foreign-trade zone has been granted. See 19 USC 81a
  • Grantor: The person who establishes a trust and places property into it.
  • Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • 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
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
  • Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
  • historical park: means the Adams National Historical Park established in section 410eee-2 of this title. See 16 USC 410eee-1
  • historical park: means the Weir Farm National Historical Park established in section 410ffff-2 of this title. See 16 USC 410ffff
  • holder: means an eligible lender who owns a loan. See 20 USC 1085
  • hybrid instrument: means a security having one or more payments indexed to the value, level, or rate of, or providing for the delivery of, one or more commodities. See 7 USC 1a
  • Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
  • 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
  • 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
  • independent: when used with respect to a student, means any individual who--

    (A) is 24 years of age or older by December 31 of the award year. See 20 USC 1087vv

  • Indian tribal government: means the governing body of any tribe, band, community, village, or group of Indians, or (if applicable) Alaska Natives, which is determined by the Secretary, after consultation with the Secretary of the Interior, to exercise governmental functions. See 26 USC 7701
  • 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.
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
  • individual retirement plan: means --

    (A) an individual retirement account described in section 408(a), and

    (B) an individual retirement annuity described in section 408(b). See 26 USC 7701

  • individual retirement plan: means --

    (A) an individual retirement account described in section 408(a), and

    (B) an individual retirement annuity described in section 408(b). See 26 USC 7701

  • infringing semiconductor chip product: is a semiconductor chip product which is made, imported, or distributed in violation of the exclusive rights of the owner of a mask work under this chapter. See 17 USC 901
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • innocent purchaser: is a person who purchases a semiconductor chip product in good faith and without having notice of protection with respect to the semiconductor chip product. See 17 USC 901
  • insane person: shall include every idiot, insane person, and person non compos mentis. See 1 USC 1
  • Institute: means the Institute of Museum and Library Services established under section 9102 of this title. See 20 USC 9101
  • institution of higher education: means , in addition to institutions which meet the definition of section 1001 of this title, institutions which meet the requirements of section 1001 of this title except that (1) they are not located in the United States, and (2) they apply for assistance under this subchapter in consortia with institutions which meet the definition of section 1001 of this title. See 20 USC 1132
  • institution of higher education: means an educational institution in any State which (A) admits as regular students only individuals having a certificate of graduation from a school providing secondary education, or the recognized equivalent of such a certificate. See 20 USC 4351
  • insurance beneficiary: means the insured or its authorized representative assigned in accordance with section 1079(d) of this title. See 20 USC 1085
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Inter vivos: Transfer of property from one living person to another living person.
  • 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
  • interested person: means any person having a contract or other financial interest in grain as the owner, seller, purchaser, warehouseman, or carrier, or otherwise. See 7 USC 75
  • international business: means profit-oriented business relationships conducted across national boundaries and includes activities such as the buying and selling of goods, investments in industries, the licensing of processes, patents and trademarks, and the supply of services. See 20 USC 1132
  • international organization: means a public international organization entitled to enjoy privileges, exemptions, and immunities as an international organization under the International Organizations Immunities Act (22 U. See 26 USC 7701
  • international organization: means a public international organization entitled to enjoy privileges, exemptions, and immunities as an international organization under the International Organizations Immunities Act (22 U. See 26 USC 7701
  • internationalization of curricula: means the incorporation of international or comparative perspectives in existing courses of study or the addition of new components to the curricula to provide an international context for American business education. See 20 USC 1132
  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • interstate commerce: means commerce--

    (A) between any State, territory, or possession, or the District of Columbia, and any place outside thereof. See 7 USC 1a

  • interstate or foreign commerce: means commerce from any State to or through any other State, or to or through any foreign country. See 7 USC 75
  • Intestate: Dying without leaving a will.
  • intracompany shipment: means the shipment, within the United States, of grain lots between facilities owned or controlled by the person owning the grain. See 7 USC 75
  • introducing broker: means any person (except an individual who elects to be and is registered as an associated person of a futures commission merchant)--

    (i) who--

    (I) is engaged in soliciting or in accepting orders for--

    (aa) the purchase or sale of any commodity for future delivery, security futures product, or swap. See 7 USC 1a

  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • IUU fishing: means any activity set out in paragraph 3 of the 2001 FAO International Plan of Action to Prevent, Deter and Eliminate Illegal, Unreported and Unregulated Fishing. See 16 USC 7402
  • 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.
  • Joint meeting: An occasion, often ceremonial, when the House and Senate each adopt a unanimous consent agreement
  • Joint resolution: A legislative measure which requires the approval of both chambers.
  • joint return: means a single return made jointly under section 6013 by a husband and wife. See 26 USC 7701
  • joint return: means a single return made jointly under section 6013 by a husband and wife. See 26 USC 7701
  • joint work: is a work prepared by two or more authors with the intention that their contributions be merged into inseparable or interdependent parts of a unitary whole. See 17 USC 101
  • 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.
  • Juror: A person who is on the jury.
  • Law clerk: Assist judges with research and drafting of opinions.
  • Layover: Informal term for a period of delay required by rule. For example, when a bill or other measure is reported from committee, it may be considered on the floor only after it "lies over" for one legislative day and after the written report has been available for two calendar days. Layover periods may be waived by unanimous consent.
  • 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.
  • Legatee: A beneficiary of a decedent
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • levy: includes the power of distraint and seizure by any means. See 26 USC 7701
  • levy: includes the power of distraint and seizure by any means. See 26 USC 7701
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Librarian: means the Librarian of Congress. See 2 USC 1741
  • library: includes --

    (A) a public library. See 20 USC 9122

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
  • 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
  • Lineal descendant: Direct descendant of the same ancestors.
  • listed IUU vessel: means a vessel that is included in a list of vessels having engaged in IUU fishing or fishing-related activities in support of IUU fishing that has been adopted by a regional fisheries management organization of which the United States is a member, or a list adopted by a regional fisheries management organization of which the United States is not a member if the Secretary determines the criteria used by that organization to create the IUU list is comparable to criteria adopted by RFMOs of which the United States is a member for identifying IUU vessels and activities. See 16 USC 7402
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • lobbying activities: means lobbying contacts and efforts in support of such contacts, including preparation and planning activities, research and other background work that is intended, at the time it is performed, for use in contacts, and coordination with the lobbying activities of others. See 2 USC 1602
  • lobbying contact: means any oral or written communication (including an electronic communication) to a covered executive branch official or a covered legislative branch official that is made on behalf of a client with regard to--

    (i) the formulation, modification, or adoption of Federal legislation (including legislative proposals). See 2 USC 1602

  • lobbying firm: means a person or entity that has 1 or more employees who are lobbyists on behalf of a client other than that person or entity. See 2 USC 1602
  • lobbyist: means any individual who is employed or retained by a client for financial or other compensation for services that include more than one lobbying contact, other than an individual whose lobbying activities constitute less than 20 percent of the time engaged in the services provided by such individual to that client over a 3-month period. See 2 USC 1602
  • Local government: means any political subdivision of a State, including a county, municipality, city, town, township, or a school or other special district created pursuant to State law. See 16 USC 410y
  • lot: means a specific quantity of grain identified as such. See 7 USC 75
  • Magistrate judges: Judicial officers who assist U.S. district judges in getting cases ready for trial, who may decide some criminal and civil trials when both parties agree to have the case heard by a magistrate judge instead of a judge.
  • Magnuson-Stevens Act: means the Magnuson-Stevens Fishery Conservation and Management Act (16 U. See 16 USC 7402
  • major security-based swap participant: has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U. See 7 USC 1a
  • major swap participant: means any person who is not a swap dealer, and--

    (i) maintains a substantial position in swaps for any of the major swap categories as determined by the Commission, excluding--

    (I) positions held for hedging or mitigating commercial risk. See 7 USC 1a

  • Majority leader: see Floor Leaders
  • Majority whip: See Whips.
  • Mandatory spending: Spending (budget authority and outlays) controlled by laws other than annual appropriations acts.
  • marriage: means only a legal union between one man and one woman as husband and wife, and the word "spouse" refers only to a person of the opposite sex who is a husband or a wife. See 1 USC 7
  • mask work: is a series of related images, however fixed or encoded--

    (A) having or representing the predetermined, three-dimensional pattern of metallic, insulating, or semiconductor material present or removed from the layers of a semiconductor chip product. See 17 USC 901

  • media organization: means a person or entity engaged in disseminating information to the general public through a newspaper, magazine, other publication, radio, television, cable television, or other medium of mass communication. See 2 USC 1602
  • member: means , with respect to a registered entity or derivatives transaction execution facility, an individual, association, partnership, corporation, or trust--

    (A) owning or holding membership in, or admitted to membership representation on, the registered entity or derivatives transaction execution facility. See 7 USC 1a

  • Member of Congress: means a Senator or a Representative in, or Delegate or Resident Commissioner to, the Congress. See 2 USC 1602
  • Member of the House of Representatives: means a Representative in, or a Delegate or Resident Commissioner to, the Congress. See 2 USC 2086
  • migratory agricultural worker: means an individual who made a qualifying move in the preceding 36 months and, after doing so, engaged in new temporary or seasonal employment or personal subsistence in agriculture, which may be dairy work or the initial processing of raw agricultural products. See 20 USC 6399
  • migratory child: means a child or youth who made a qualifying move in the preceding 36 months--

    (A) as a migratory agricultural worker or a migratory fisher. See 20 USC 6399

  • migratory fisher: means an individual who made a qualifying move in the preceding 36 months and, after doing so, engaged in new temporary or seasonal employment or personal subsistence in fishing. See 20 USC 6399
  • Minority leader: See Floor Leaders
  • Minority whip: See Whips.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • modifications to substantive law: refers to changes to or restrictions on entitlement law or other mandatory spending contained in appropriations Acts, notwithstanding section 250(c)(8) of BBEDCA [2 U. See 2 USC 932
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • motion picture exhibition facility: means a movie theater, screening room, or other venue that is being used primarily for the exhibition of a copyrighted motion picture, if such exhibition is open to the public or is made to an assembled group of viewers outside of a normal circle of a family and its social acquaintances. See 17 USC 101
  • narrow-based security index: means an index--

    (i) that has 9 or fewer component securities. See 7 USC 1a

  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • 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
  • Native Hawaiian: as used in this subchapter , means a descendant of not less than one-half part of the blood of the races inhabiting the Hawaiian Islands previous to the year 1778. See 16 USC 410jj-6
  • net assets: means the current market value at the time of application of the assets (as defined in subsection (f)), minus the outstanding liabilities or indebtedness against the assets. See 20 USC 1087vv
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • nonrecognition transaction: means any disposition of property in a transaction in which gain or loss is not recognized in whole or in part for purposes of subtitle A. See 26 USC 7701
  • nonsecurity category: means all discretionary appropriations not included in the security category defined in subparagraph (B). See 2 USC 900
  • notice of protection: means having actual knowledge that, or reasonable grounds to believe that, a mask work is protected under this chapter. See 17 USC 901
  • NTID: means the National Technical Institute for the Deaf. See 20 USC 4351
  • oath: includes affirmation, and "sworn" includes affirmed. See 1 USC 1
  • Oath: A promise to tell the truth.
  • 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.
  • obscene: means , with respect to a project, that--

    (A) the average person, applying contemporary community standards, would find that such project, when taken as a whole, appeals to the prurient interest. See 20 USC 9101

  • Office: means the Office of Congressional Workplace Rights. See 2 USC 1301
  • office: includes any office, institute, council, unit, organizational entity, or component thereof. See 20 USC 3404
  • officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
  • official agency: means any State or local governmental agency, or any person, designated by the Secretary pursuant to subsection (f) of section 79 of this title for the conduct of official inspection (other than appeal inspection), or subsection (c) of section 79a of this title for the conduct of official weighing or supervision of weighing (other than appeal weighing). See 7 USC 75
  • official grade designation: means a numerical or sample grade designation, specified in the standards relating to kind, class, quality, and condition of grain, provided for in this chapter. See 7 USC 75
  • official inspection: means the determination (by original inspection, and when requested, reinspection and appeal inspection) and the certification, by official inspection personnel of the kind, class, quality, or condition of grain, under standards provided for in this chapter, or the condition of vessels and other carriers or receptacles for the transportation of grain insofar as it may affect the quality or condition of such grain. See 7 USC 75
  • official inspection personnel: means persons licensed or otherwise authorized by the Secretary pursuant to section 84 of this title to perform all or specified functions involved in official inspection, official weighing, or supervision of weighing, or in the supervision of official inspection, official weighing or supervision of weighing. See 7 USC 75
  • official mark: means any symbol prescribed by regulations of the Secretary to show the official determination of official inspection or official weighing. See 7 USC 75
  • official sample: means a sample obtained from a lot of grain by, and submitted for official inspection by, official inspection personnel (the term "official sampling" shall be construed accordingly). See 7 USC 75
  • official sampling: shall be construed accordingly). See 7 USC 75
  • official weighing: means the determination and certification by official inspection personnel of the quantity of a lot of grain under standards provided for in this chapter, based on the actual performance of weighing or the physical supervision thereof, including the physical inspection and testing for accuracy of the weights and scales and the physical inspection of the premises at which the weighing is performed and the monitoring of the discharge of grain into the elevator or conveyance (the terms "officially weigh" and "officially weighed" shall be construed accordingly). See 7 USC 75
  • officially inspected: shall be construed accordingly). See 7 USC 75
  • officially weighed: shall be construed accordingly). See 7 USC 75
  • old Schedules: means title I of the Tariff Act of 1930 (19 U. See 19 USC 3002
  • OMB: means the Director of the Office of Management and Budget. See 2 USC 900
  • option: means an agreement, contract, or transaction that is of the character of, or is commonly known to the trade as, an "option" "privilege" "indemnity" "bid" "offer" "put" "call" "advance guaranty" or "decline guaranty". See 7 USC 1a
  • Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
  • organization: means a person or entity other than an individual. See 2 USC 1602
  • organized exchange: means a trading facility that--

    (A) permits trading--

    (i) by or on behalf of a person that is not an eligible contract participant. See 7 USC 1a

  • Original bill: A bill which is drafted by a committee. It is introduced by the committee or subcommittee chairman after the committee votes to report it.
  • 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.
  • outyear: means a fiscal year one or more years after the budget year. See 2 USC 932
  • outyear: means a fiscal year one or more years after the budget year. See 2 USC 900
  • Oversight: Committee review of the activities of a Federal agency or program.
  • paid or accrued: shall be construed according to the method of accounting upon the basis of which the taxable income is computed under subtitle A. See 26 USC 7701
  • Park: means the Chesapeake and Ohio Canal National Historical Park, as herein established. See 16 USC 410y
  • park: means the Keweenaw National Historical Park established by section 410yy-2(a)(1) of this title. See 16 USC 410yy-1
  • park: means the Lewis and Clark National Historical Park designated in section 410kkk-1 of this title. See 16 USC 410kkk
  • Parliamentarian: The Parliamentarian is an advisor on the interpretation of legislative rules and procedures.
  • partner: includes a member in such a syndicate, group, pool, joint venture, or organization. See 26 USC 7701
  • partner: includes a member in such a syndicate, group, pool, joint venture, or organization. See 26 USC 7701
  • 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.
  • 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
  • PAYGO Act: refers to a bill or joint resolution that affects direct spending or revenue relative to the baseline. See 2 USC 932
  • Per stirpes: The legal means by which the children of a decedent, upon the death of an ancestor at a level above that of the decedent, receive by right of representation the share of the ancestor
  • performance: may be construed to mean "exercise". See 3 USC 303
  • performing rights society: is a n association, corporation, or other entity that licenses the public performance of nondramatic musical works on behalf of copyright owners of such works, such as the American Society of Composers, Authors and Publishers (ASCAP), Broadcast Music, Inc. See 17 USC 101
  • person: import s the plural or the singular, as the case demands, and includes an individual, a partnership, a corporation, or two or more persons having a joint or common interest. See 7 USC 62
  • person: means any individual, partnership, corporation, association, or other business entity. See 7 USC 75
  • 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, partnership, corporation, private nonprofit organization, or club. See 16 USC 410y
  • person: shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation. See 26 USC 7701
  • person: import s the plural or singular, and includes individuals, associations, partnerships, corporations, and trusts. See 7 USC 1a
  • person or entity: means any individual, corporation, company, foundation, association, labor organization, firm, partnership, society, joint stock company, group of organizations, or State or local government. See 2 USC 1602
  • Personal property: All property that is not real property.
  • Petit jury: A group of citizens who hear the evidence presented by both sides at trial and determine the facts in dispute. Federal criminal juries consist of 12 persons. Federal civil juries consist of six persons.
  • phonorecords: includes the material object in which the sounds are first fixed. See 17 USC 101
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Point of order: A claim made by a legislator from the floor that a rule of the legislature is being violated. If the Chair sustains the point of order, the action in violation of the rule is not permitted.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
  • 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.
  • Private law: A private bill enacted into law. Private laws have restricted applicability, often addressing immigration and naturalization issues affecting individuals.
  • Pro se: A Latin term meaning "on one's own behalf"; in courts, it refers to persons who present their own cases without lawyers.
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • proprietor: is a n individual, corporation, partnership, or other entity, as the case may be, that owns an establishment or a food service or drinking establishment, except that no owner or operator of a radio or television station licensed by the Federal Communications Commission, cable system or satellite carrier, cable or satellite carrier service or programmer, provider of online services or network access or the operator of facilities therefor, telecommunications company, or any other such audio or audiovisual service or programmer now known or as may be developed in the future, commercial subscription music service, or owner or operator of any other transmission service, shall under any circumstances be deemed to be a proprietor. See 17 USC 101
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • prudential regulator: means --

    (A) the Board in the case of a swap dealer, major swap participant, security-based swap dealer, or major security-based swap participant that is--

    (i) a State-chartered bank that is a member of the Federal Reserve System. See 7 USC 1a

  • pseudonymous work: is a work on the copies or phonorecords of which the author is identified under a fictitious name. See 17 USC 101
  • Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • public official: means any elected official, appointed official, or employee of--

    (A) a Federal, State, or local unit of government in the United States other than--

    (i) a college or university. See 2 USC 1602

  • publication: has the meaning given such term in section 101 of title 17. See 2 USC 1741
  • publicly: means --

    (1) to perform or display it at a place open to the public or at any place where a substantial number of persons outside of a normal circle of a family and its social acquaintances is gathered. See 17 USC 101

  • qualified education benefit: means --

    (i) a qualified tuition program (as defined in section 529(b)(1)(A) of title 26) or other prepaid tuition plan offered by a State. See 20 USC 1087vv

  • qualified higher education expenses: has the meaning given the term in section 529(e) of title 26. See 20 USC 1087vv
  • qualifying move: means a move due to economic necessity--

    (A) from one residence to another residence. See 20 USC 6399

  • Quorum: The number of legislators that must be present to do business.
  • Ranking minority member: The highest ranking (and usually longest serving) minority member of a committee or subcommittee.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recess: A temporary interruption of the legislative business.
  • Reconciliation bill: A bill containing changes in law recommended pursuant to reconciliation instructions in a budget resolution. If the instructions pertain to only one committee in a chamber, that committee reports the reconciliation bill. If the instructions pertain to more than one committee, the Budget Committee reports an omnibus reconciliation bill, but it may not make substantive changes in the recommendations of the other committees.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • redetermination: means redetermination of eligibility under sections 1611(c)(1) and 1614(a)(3)(H) of the Social Security Act [42 U. See 2 USC 901
  • registered entity: means --

    (A) a board of trade designated as a contract market under section 7 of this title. See 7 USC 1a

  • Registry version: means , with respect to a sound recording, the version of a recording first published or offered for mass distribution whether as a publication or a broadcast, or as complete a version as bona fide preservation and restoration activities by the Librarian, an archivist other than the Librarian, or the copyright legal owner can compile in those cases where the original material has been irretrievably lost or the recording is unpublished. See 2 USC 1741
  • 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.
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • residential property: means a single-family dwelling, the construction of which began before July 1, 1991, together with such land on which the dwelling and appurtenant buildings are located as is in the same ownership as such dwelling and as the Secretary designates as reasonably necessary for the owner's continued use and occupancy of the dwelling. See 16 USC 410x-2
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • revised nonsecurity category: means discretionary appropriations other than in budget function 050. See 2 USC 900
  • revised security category: means discretionary appropriations in budget function 050. See 2 USC 900
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
  • Secretary: means the Secretary of the Treasury or his delegate. See 26 USC 7701
  • Secretary: means the Secretary of the Treasury. See 7 USC 1a
  • Secretary: means the Secretary of Agriculture of the United States or delegates of the Secretary. See 7 USC 75
  • Secretary: means the Secretary of Commerce or his or her designee. See 16 USC 7402
  • Secretary: means the Secretary of Commerce. See 19 USC 81a
  • Secretary: means the Secretary of Education. See 20 USC 1221
  • Secretary: means the Secretary of Education. See 20 USC 3404
  • Secretary: means the Secretary of Education. See 20 USC 4351
  • Secretary: means the Secretary of the Interior. See 16 USC 410y
  • Secretary: means the Secretary of the Interior. See 16 USC 410yy-1
  • Secretary: means the Secretary of the Interior. See 16 USC 410eee-1
  • Secretary: means the Secretary of the Interior. See 16 USC 410kkk
  • Secretary: means the Secretary of the Interior. See 16 USC 410ffff
  • Secretary: means the Secretary of the Treasury or his delegate. See 26 USC 7701
  • Secretary of the Treasury: means the Secretary of the Treasury, personally, and shall not include any delegate of his. See 26 USC 7701
  • Secretary of the Treasury: means the Secretary of the Treasury, personally, and shall not include any delegate of his. See 26 USC 7701
  • security: means a security as defined in section 2(a)(1) of the Securities Act of 1933 (15 U. See 7 USC 1a
  • security category: includes discretionary appropriations associated with agency budgets for the Department of Defense, the Department of Homeland Security, the Department of Veterans Affairs, the National Nuclear Security Administration, the intelligence community management account (95-0401-0-1-054), and all budget accounts in budget function 150 (international affairs). See 2 USC 900
  • security future: means a contract of sale for future delivery of a single security or of a narrow-based security index, including any interest therein or based on the value thereof, except an exempted security under section 3(a)(12) of the Securities Exchange Act of 1934 [15 U. See 7 USC 1a
  • security futures product: means a security future or any put, call, straddle, option, or privilege on any security future. See 7 USC 1a
  • security-based swap: has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U. See 7 USC 1a
  • security-based swap dealer: has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U. See 7 USC 1a
  • Sentencing guidelines: A set of rules and principles established by the United States Sentencing Commission that trial judges use to determine the sentence for a convicted defendant. Source: U.S. Courts
  • Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
  • sequestration: refer to or mean the cancellation of budgetary resources provided by discretionary appropriations or direct spending law. See 2 USC 900
  • Service of process: The service of writs or summonses to the appropriate party.
  • Services: include any service, repair, training of personnel, or technical or other assistance or information used for the purposes of furnishing nonmilitary assistance. See 22 USC 2403
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • shareholder: includes a member in an association, joint-stock company, or insurance company. See 26 USC 7701
  • shareholder: includes a member in an association, joint-stock company, or insurance company. See 26 USC 7701
  • significant price discovery contract: means an agreement, contract, or transaction subject to section 2(h)(5) of this title. See 7 USC 1a
  • Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
  • sound recording: has the meaning given such term in section 101 of title 17. See 2 USC 1741
  • special combat pay: means pay received by a member of the Armed Forces because of exposure to a hazardous situation. See 20 USC 1087vv
  • State: means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, American Samoa, Guam, and the Northern Mariana Islands: Provided, That for the purposes of section 10156(a) of this title, American Samoa and the Commonwealth of the Northern Mariana Islands shall be considered as one state 1 and that for these purposes 67 per centum of the amounts allocated shall be allocated to American Samoa, and 33 per centum to the Commonwealth of the Northern Mariana Islands. See 34 USC 10251
  • State: shall include the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands. See
  • State: means any one of the States (including Puerto Rico) or territories or possessions of the United States (including the District of Columbia). See 7 USC 75
  • 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: includes any State, the District of Columbia, and Puerto Rico. See 19 USC 81a
  • State: as used in this subchapter shall include Puerto Rico, the Virgin Islands, and Guam. See
  • State: includes the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, the Northern Mariana Islands, and the Trust Territory of the Pacific Islands. See 20 USC 3404
  • State: means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, American Samoa, the Virgin Islands, and the Commonwealth of the Northern Mariana Islands. See 20 USC 4351
  • State: includes the District of Columbia and the Commonwealth of Puerto Rico, and any territories to which this title is made applicable by an Act of Congress. See 17 USC 101
  • State: means any State, and includes the District of Columbia. See 16 USC 410y
  • 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 each of the several States, the District of Columbia, and any commonwealth, territory, or possession of the United States. See 2 USC 1602
  • State: includes the District of Columbia. See 3 USC 21
  • State agency for higher education: means the State board of higher education or other agency or officer primarily responsible for the State supervision of higher education, or if there is no such officer or agency, an officer or agency designated by the Governor or by State law. See 20 USC 3982
  • State library administrative agency: means the official agency of a State charged by the law of the State with the extension and development of public library services throughout the State. See 20 USC 9122
  • State plan: means the document which gives assurances that the officially designated State library administrative agency has the fiscal and legal authority and capability to administer all aspects of this subchapter, provides assurances for establishing the State's policies, priorities, criteria, and procedures necessary to the implementation of all programs under this subchapter, submits copies for approval as required by regulations promulgated by the Director, identifies a State's library needs, and sets forth the activities to be taken toward meeting the identified needs supported with the assistance of Federal funds made available under this subchapter. See 20 USC 9122
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • stock: includes shares in an association, joint-stock company, or insurance company. See 26 USC 7701
  • stock: includes shares in an association, joint-stock company, or insurance company. See 26 USC 7701
  • student: means any individual--

    (i) who is temporarily present in the United States--

    (I) under subparagraph (F) or (M) of section 101(15) of the Immigration and Nationality Act, or

    (II) as a student under subparagraph (J) or (Q) of such section 101(15), and


    (ii) who substantially complies with the requirements for being so present. See 26 USC 7701

  • submitted sample: means a sample submitted by or for an interested person for official inspection, other than an official sample. See 7 USC 75
  • Subpoena: A command to a witness to appear and give testimony.
  • Subpoena duces tecum: A command to a witness to produce documents.
  • subscription: includes a mark when the person making the same intended it as such. See 1 USC 1
  • substituted basis property: means property which is--

    (A) transferred basis property, or

    (B) exchanged basis property. See 26 USC 7701

  • Summons: Another word for subpoena used by the criminal justice system.
  • supervision of weighing: means such supervision by official inspection personnel of the grain-weighing process as is determined by the Secretary to be adequate to reasonably assure the integrity and accuracy of the weighing and of certificates which set forth the weight of the grain and such physical inspection by such personnel of the premises at which the grain weighing is performed as will reasonably assure that all the grain intended to be weighed has been weighed and discharged into the elevator or conveyance. See 7 USC 75
  • Supplemental appropriation: Budget authority provided in an appropriations act in addition to regular or continuing appropriations already provided. Supplemental appropriations generally are made to cover emergencies, such as disaster relief, or other needs deemed too urgent to be postponed until the enactment of next year's regular appropriations act.
  • supplementary work: is a work prepared for publication as a secondary adjunct to a work by another author for the purpose of introducing, concluding, illustrating, explaining, revising, commenting upon, or assisting in the use of the other work, such as forewords, afterwords, pictorial illustrations, maps, charts, tables, editorial notes, musical arrangements, answer material for tests, bibliographies, appendixes, and indexes, and an "instructional text" is a literary, pictorial, or graphic work prepared for publication and with the purpose of use in systematic instructional activities. See 17 USC 101
  • swap: includes a master agreement that provides for an agreement, contract, or transaction that is a swap under subparagraph (A), together with each supplement to any master agreement, without regard to whether the master agreement contains an agreement, contract, or transaction that is not a swap pursuant to subparagraph (A). See 7 USC 1a
  • swap data repository: means any person that collects and maintains information or records with respect to transactions or positions in, or the terms and conditions of, swaps entered into by third parties for the purpose of providing a centralized recordkeeping facility for swaps. See 7 USC 1a
  • swap dealer: means any person who--

    (i) holds itself out as a dealer in swaps. See 7 USC 1a

  • swap execution facility: means a trading system or platform in which multiple participants have the ability to execute or trade swaps by accepting bids and offers made by multiple participants in the facility or system, through any means of interstate commerce, including any trading facility, that--

    (A) facilitates the execution of swaps between persons. See 7 USC 1a

  • target area: means any area defined in an application for assistance under this part that has a population whose income does not exceed the median for the area within which the target area is located. See 34 USC 12211
  • Tax Court: means the United States Tax Court. See 26 USC 7701
  • Tax Court: means the United States Tax Court. See 26 USC 7701
  • tax return preparer: means any person who prepares for compensation, or who employs one or more persons to prepare for compensation, any return of tax imposed by this title or any claim for refund of tax imposed by this title. See 26 USC 7701
  • 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
  • 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
  • taxpayer: means any person subject to any internal revenue tax. See 26 USC 7701
  • technical rectifications: means rectifications of an editorial character or minor technical or clerical changes which do not affect the substance or meaning of the text, such as--

    (A) errors in spelling, numbering, or punctuation. See 19 USC 3002

  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testator: A male person who leaves a will at death.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • TIN: means the identifying number assigned to a person under section 6109. See 26 USC 7701
  • TIN: means the identifying number assigned to a person under section 6109. See 26 USC 7701
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • trade or business: includes the performance of the functions of a public office. See 26 USC 7701
  • trade or business: includes the performance of the functions of a public office. See 26 USC 7701
  • trading facility: means a person or group of persons that constitutes, maintains, or provides a physical or electronic facility or system in which multiple participants have the ability to execute or trade agreements, contracts, or transactions--

    (i) by accepting bids or offers made by other participants that are open to multiple participants in the facility or system. See 7 USC 1a

  • transaction: includes a series of transactions. See 26 USC 7701
  • transaction: includes a series of transactions. See 26 USC 7701
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • transfer of copyright ownership: is a n assignment, mortgage, exclusive license, or any other conveyance, alienation, or hypothecation of a copyright or of any of the exclusive rights comprised in a copyright, whether or not it is limited in time or place of effect, but not including a nonexclusive license. See 17 USC 101
  • transferred basis property: means property having a basis determined under any provision of subtitle A (or under any corresponding provision of prior income tax law) providing that the basis shall be determined in whole or in part by reference to the basis in the hands of the donor, grantor, or other transferor. See 26 USC 7701
  • transmission program: is a body of material that, as an aggregate, has been produced for the sole purpose of transmission to the public in sequence and as a unit. See 17 USC 101
  • treaty party: is a country or intergovernmental organization other than the United States that is a party to an international agreement. See 17 USC 101
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • tribally controlled college or university: has the meaning given the term in section 1801 of title 25. See 20 USC 1132
  • Trustee: A person or institution holding and administering property in trust.
  • Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
  • unanticipated: means that the underlying situation is--

    (A) sudden, which means quickly coming into being or not building up over time. See 2 USC 900

  • 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
  • United States: means the States (including Puerto Rico) and the territories and possessions of the United States (including the District of Columbia). See 7 USC 75
  • United States: when used in a geographical sense includes only the States and the District of Columbia. See 26 USC 7701
  • United States: when used in a geographical sense, comprises the several States, the District of Columbia and the Commonwealth of Puerto Rico, and the organized territories under the jurisdiction of the United States Government. See 17 USC 101
  • United States: when used in a geographical sense includes only the States and the District of Columbia. See 26 USC 7701
  • United States Commission on International Religious Freedom: means the Commission established under section 6431 of title 22. See 2 USC 1301
  • United States person: means --

    (A) a citizen or resident of the United States,

    (B) a domestic partnership,

    (C) a domestic corporation,

    (D) any estate (other than a foreign estate, within the meaning of paragraph (31)), and

    (E) any trust if--

    (i) a court within the United States is able to exercise primary supervision over the administration of the trust, and

    (ii) one or more United States persons have the authority to control all substantial decisions of the trust. See 26 USC 7701

  • United States person: means --

    (A) a citizen or resident of the United States,

    (B) a domestic partnership,

    (C) a domestic corporation,

    (D) any estate (other than a foreign estate, within the meaning of paragraph (31)), and

    (E) any trust if--

    (i) a court within the United States is able to exercise primary supervision over the administration of the trust, and

    (ii) one or more United States persons have the authority to control all substantial decisions of the trust. See 26 USC 7701

  • University: means Gallaudet University. See 20 USC 4351
  • untaxed income and benefits: means --

    (A) child support received. See 20 USC 1087vv

  • Uphold: The decision of an appellate court not to reverse a lower court decision.
  • useful article: is a n article having an intrinsic utilitarian function that is not merely to portray the appearance of the article or to convey information. See 17 USC 101
  • User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • vehicle: includes every description of carriage or other artificial contrivance used, or capable of being used, as a means of transportation on land. See 1 USC 4
  • Venue: The geographical location in which a case is tried.
  • vessel: includes every description of watercraft or other artificial contrivance used, or capable of being used, as a means of transportation on water. See 1 USC 3
  • vessel: means any vessel, ship of another type, or boat used for, equipped to be used for, or intended to be used for, fishing or fishing-related activities, including container vessels that are carrying fish that have not been previously landed. See 16 USC 7402
  • veteran: means any individual who--

    (A) has engaged in the active duty in the United States Army, Navy, Air Force, Marines, or Coast Guard. See 20 USC 1087vv

  • Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
  • Whips: Assistants to the floor leaders who are also elected by their party conferences. The Majority and Minority Whips (and their assistants) are responsible for mobilizing votes within their parties on major issues. In the absence of a party floor leader, the whip often serves as acting floor leader.
  • whoever: include corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals. See 1 USC 1
  • wildfire suppression operations: means the emergency and unpredictable aspects of wildland firefighting, including--

    (aa) support, response, and emergency stabilization activities. See 2 USC 901

  • withholding agent: means any person required to deduct and withhold any tax under the provisions of section 1441, 1442, 1443, or 1461. See 26 USC 7701
  • work of the United States Government: is a work prepared by an officer or employee of the United States Government as part of that person's official duties. See 17 USC 101
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.
  • writing: includes printing and typewriting and reproductions of visual symbols by photographing, multigraphing, mimeographing, manifolding, or otherwise. See 1 USC 1
  • zone: means a "foreign-trade zone" as provided in this chapter. See 19 USC 81a