Terms Used In U.S. Code > Title 7 > Chapter 106 - Commodity Programs

• Acquittal:
  1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
  2. A verdict of "not guilty."
   
• Administration: means the National Credit Union Administration. See 12 USC 1752
• Advisory Board: means the National Agricultural Research, Extension, Education, and Economics Advisory Board. See 7 USC 3103
• 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.
• affiliate: has the meaning given to such term in section 1841(k) of this title. See 12 USC 1813
• agricultural commodity: means any agricultural commodity, food, feed, fiber, or livestock (including livestock as it is defined in section 1471(2) of this title and insects), and any product thereof. See 7 USC 5602
• agricultural research: means research in the food and agricultural sciences. See 7 USC 3103
• Allegation: something that someone says happened.
• 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.
• Amortization: Paying off a loan by regular installments.
• 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.
• 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.
• Appraisal: A determination of property value.
• appropriate Federal banking agency: means &mdash. See 12 USC 1813
• 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
• aquaculture: means the propagation and rearing of aquacultural species, including, but not limited to, any species of finfish, mollusk, or crustacean (or other aquatic invertebrate), amphibian, reptile, ornamental fish, or aquatic plant, in controlled or selected environments. See 7 USC 3103
• Arrest: Taking physical custody of a person by lawful authority.
• 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
• Balanced budget: A budget in which receipts equal outlays.
• bank holding company: has the meaning given to such term in section 1841 of this title. See 12 USC 1813
• 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.
• 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.
• blind: means an individual who has central visual acuity of 20/200 or less in the better eye with the use of a correcting lens or whose eye is accompanied by a limitation in the fields of vision such that the widest diameter of the visual field subtends an angle no greater than 20 degrees. See 34 USC 10284
• Board: means the National Credit Union Administration Board. See 12 USC 1752
• Board of Directors: means the Board of Directors of the Corporation. See 12 USC 1813
• branch: includes any branch credit union, branch office, branch agency, additional office, or any branch place of business located in any State of the United States, the District of Columbia, the several territories, including the trust territories, and possessions of the United States, the Panama Canal Zone, or the Commonwealth of Puerto Rico, at which member accounts are established or money lent. See 12 USC 1752
• bridge depository institution: means a new national bank or Federal savings association organized by the Corporation in accordance with section 1821(n) of this title. See 12 USC 1813
• 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).
• candidate officer: means an individual who is enrolled or admitted, as a cadet or trainee, in a formal and officially established program of instruction or of training (such as a police or fire academy) that is specifically intended to result upon completion, in the&mdash. See 34 USC 10284
• catastrophic injury: means an injury, the direct and proximate result of which is to permanently render an individual functionally incapable (including through a directly and proximately resulting neurocognitive disorder), based on the state of medicine on the date on which the claim is determined by the Bureau, of performing work, including sedentary work: Provided, That, if it appears that a claimant may be functionally capable of performing work&mdash. See 34 USC 10284
• Chairman: means the Chairman of the National Credit Union Administration Board. See 12 USC 1752
• chaplain: includes any individual serving as an officially recognized or designated member of a legally organized volunteer fire department or legally organized police department, or an officially recognized or designated public employee of a legally organized fire or police department who was responding to a fire, rescue, or police emergency. See 34 USC 10284
• chief executive: means the highest official of a State or local jurisdiction. See 34 USC 10251
• child: means any natural, illegitimate, adopted, or posthumous child or stepchild of a deceased or permanently and totally disabled public safety officer who, at the time of the public safety officer's death or fatal injury (in connection with any claim predicated upon such death or injury) or the date of the public safety officer's catastrophic injury or of the final determination by the Bureau of any claim predicated upon such catastrophic injury, is&mdash. See 34 USC 10284
• children: means individuals who have not attained the age of 18. See 20 USC 7972
• cigarette: means &mdash. See 15 USC 1332
• Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
• commerce: means (A) commerce between any State, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Virgin Islands, American Samoa, Wake Island, Midway Islands, Kingman Reef, or Johnston Island and any place outside thereof. See 15 USC 1332
• 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.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• 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.
• construction: means the erection, acquisition, renovation, repairs, remodeling, or expansion of new or existing buildings or other physical facilities, and the acquisition or installation of initial equipment therefor. See 34 USC 10251
• Continuance: Putting off of a hearing ot trial until a later time.
• control: has the meaning given to such term in section 1841 of this title. See 12 USC 1813
• Conviction: A judgement of guilt against a criminal defendant.
• cooperating forestry school: means an institution&mdash. See 7 USC 3103
• cooperative extension services: means the organizations established at the land-grant colleges and universities under the Smith-Lever Act of May 8, 1914 (38 Stat. See 7 USC 3103
• 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 mental health professional: means a mental health professional working on a crisis intervention team&mdash. See 34 USC 10251
• Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. ^{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
• de-escalation: means taking action or communicating verbally or non-verbally during a potential force encounter in an attempt to stabilize the situation and reduce the immediacy of the threat so that more time, options, and resources can be called upon to resolve the situation without the use of force or with a reduction in the force necessary. See 34 USC 10251
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• default: means , with respect to an insured depository institution, any adjudication or other official determination by any court of competent jurisdiction, the appropriate Federal banking agency, or other public authority pursuant to which a conservator, receiver, or other legal custodian is appointed for an insured depository institution or, in the case of a foreign bank having an insured branch, for such branch. See 12 USC 1813
• Department of Agriculture: means the United States Department of Agriculture. See 7 USC 3103
• Dependent: A person dependent for support upon another.
• deposit: means &mdash. See 12 USC 1813
• Deposit Insurance Fund: means the Deposit Insurance Fund established under section 1821(a)(4) of this title. See 12 USC 1813
• 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.
• depository institution: means any bank or savings association. See 12 USC 1813
• depository institution holding company: means a bank holding company or a savings and loan holding company. See 12 USC 1813
• designated reserve ratio: means the reserve ratio designated by the Board of Directors in accordance with section 1817(b)(3) of this title. See 12 USC 1813
• Devise: To gift property by will.
• digital literacy skills: means the skills associated with&mdash. See 20 USC 9101
• Director: means the Director of the Institute appointed under section 9103 of this title. See 20 USC 9101
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Docket: A log containing brief entries of court proceedings.
• Donor: The person who makes a gift.
• 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}
• 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.
• Equal Credit Opportunity Act: Prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because an applicant receives income from a public assistance program. ^{Source: OCC}
• 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.
• 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
• Ex officio: Literally, by virtue of one's office.
• Executor: A male person named in a will to carry out the decedent
• extension: means the informal education programs conducted in the States in cooperation with the Department of Agriculture. See 7 USC 3103
• Facility: means the National Credit Union Central Liquidity Facility. See 12 USC 1795a
• 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 banking agency: means the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation. See 12 USC 1813
• Federal branch: has the meaning given to such term by section 1(b)(6) of the International Banking Act of 1978 [12 U. See 12 USC 1813
• Federal credit union: means a cooperative association organized in accordance with the provisions of this chapter for the purpose of promoting thrift among its members and creating a source of credit for provident or productive purposes. See 12 USC 1752
• 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 depository institution: means any national bank, any Federal savings association, and any Federal branch. See 12 USC 1813
• 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}
• Federal savings association: means any Federal savings association or Federal savings bank which is chartered under section 1464 of this title. See 12 USC 1813
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiduciary: A trustee, executor, or administrator.
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• firefighter: includes an individual serving as an officially recognized or designated member of a legally organized volunteer fire department, including an individual who, as such a member, engages in scene security or traffic management as the primary or only duty of the individual during emergency response. See 34 USC 10284
• 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).
• food and agricultural sciences: means basic, applied, and developmental research, extension, and teaching activities in food and fiber, agricultural, renewable energy and natural resources, forestry, and physical and social sciences, including activities relating to the following:

  (A) Animal health, production, and well-being. See 7 USC 3103

• 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 bank: has the meaning given to such term by section 1(b)(7) of the International Banking Act of 1978 [12 U. See 12 USC 1813
• 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.
• Fund: means the National Credit Union Share Insurance Fund. See 12 USC 1752
• 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
• 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}
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Grantor: The person who establishes a trust and places property into it.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• 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.
• 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.
• housing accommodations: means housing designed for occupancy by military personnel and their dependents, assigned to duty at or near the military installation where such housing units are constructed. See 12 USC 1748
• in danger of default: means an insured depository institution with respect to which (or in the case of a foreign bank having an insured branch, with respect to such insured branch) the appropriate Federal banking agency or State chartering authority has advised the Corporation (or, if the appropriate Federal banking agency is the Corporation, the Corporation has determined) that&mdash. See 12 USC 1813
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• independent states of the former Soviet Union: means the following: Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan. See 7 USC 5602
• 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.
• indoor facility: means a building that is enclosed. See 20 USC 7972
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• institution of higher education: means any such institution as defined by section 1001 of title 20, subject, however, to such modifications and extensions as the Office may determine to be appropriate. See 34 USC 10251
• institution-affiliated party: means &mdash. See 12 USC 1813
• insular area: means &mdash. See 7 USC 3103
• insured bank: means any bank (including a foreign bank having an insured branch) the deposits of which are insured in accordance with the provisions of this chapter. See 12 USC 1813
• insured branch: means any branch (as defined in section 1(b)(3) of the International Banking Act of 1978 [12 U. See 12 USC 1813
• insured credit union: means any credit union the member accounts of which are insured in accordance with the provisions of subchapter II of this chapter, and the term "noninsured credit union" means any credit union the member accounts of which are not so insured. See 12 USC 1752
• insured deposit: means the net amount due to any depositor for deposits in an insured depository institution as determined under sections 1817(i) and 1821(a) of this title. See 12 USC 1813
• insured depository institution: includes any uninsured branch or agency of a foreign bank or a commercial lending company owned or controlled by a foreign bank for purposes of section 1818 of this title. See 12 USC 1813
• 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}
• 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.
• Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
• Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
• Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
• land-grant colleges and universities: means those institutions eligible to receive funds under the Act of July 2, 1862 (12 Stat. See 7 USC 3103
• law enforcement officer: means an individual involved in crime and juvenile delinquency control or reduction, or enforcement of the criminal laws (including juvenile delinquency), including, but not limited to, police, corrections, probation, parole, and judicial officers. See 34 USC 10284
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• library: includes &mdash. See 20 USC 9122
• Lien: A claim against real or personal property in satisfaction of a debt.
• liquidity needs: means the needs of credit unions primarily serving natural persons for&mdash. See 12 USC 1795a
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Majority leader: see Floor Leaders
• management: means any person who organizes, exercises control over, or administers or who is responsible for organizing, directing, or administering. See 15 USC 1821
• maturity date: means the date on which the mortgage indebtedness would be extinguished if paid in accordance with periodic payments provided for in the mortgage. See 12 USC 1736
• maturity date: means the date on which the mortgage indebtedness would be extinguished if paid in accordance with periodic payments provided for in the mortgage. See 12 USC 1748
• member: means a Regular or an Agent member of the Facility. See 12 USC 1795a
• member of a rescue squad or ambulance crew: means an officially recognized or designated employee or volunteer member of a rescue squad or ambulance crew (including a ground or air ambulance service) that&mdash. See 34 USC 10284
• military: includes Army, Navy, Marine Corps, Air Force, and Coast Guard. See 12 USC 1748
• Minority leader: See Floor Leaders
• mortgage: means a first mortgage on real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable. See 12 USC 1736
• mortgage: means a first mortgage on real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable. See 12 USC 1748
• 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: includes the original lender under a mortgage, and his successors and assigns approved by the Secretary. See 12 USC 1736
• mortgagee: includes the original lender under a mortgage, and his successors and assigns approved by the Secretary. See 12 USC 1748
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• mortgagor: includes the original borrower under a mortgage and his successors and assigns. See 12 USC 1736
• mortgagor: includes the original borrower under a mortgage, his successors and assigns. See 12 USC 1748
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• 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}
• national crime information databases: refers to the National Crime Information Center and its incorporated criminal history databases, including the Interstate Identification Index. See 34 USC 12410
• national member bank: means any national bank which is a member of the Federal Reserve System. See 12 USC 1813
• national nonmember bank: means any national bank which&mdash. See 12 USC 1813
• neighborhood or community-based organizations: means organizations, including faith-based, that are representative of communities or significant segments of communities. See 34 USC 10251
• 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.
• Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
• 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.
• package: means a pack, box, carton, or container of any kind in which cigarettes are offered for sale, sold, or otherwise distributed to consumers. See 15 USC 1332
• paid-in and unimpaired capital and surplus: means the balance of the paid-in share accounts and deposits as of a given date, less any loss that may have been incurred for which there is no reserve or which has not been charged against undivided earnings, plus the credit balance (or less the debit balance) of the undivided earnings account as of a given date, after all losses have been provided for and net earnings or net losses have been added thereto or deducted therefrom. See 12 USC 1795a
• 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.
• person: means any State or local subdivision of a State, agency of such State or subdivision, corporation, or partnership that owns or operates or otherwise controls and provides children's services or any individual who owns or operates or otherwise controls and provides such services. See 20 USC 7972
• person: means an individual, partnership, corporation, or any other business or legal entity. See 15 USC 1332
• Personal property: All property that is not real property.
• personnel: shall include military and civilian personnel approved by the Secretary of Defense, or his designee, and the dependents of all such personnel. See 12 USC 1748
• persons: means any individual, partnership, corporation, or unincorporated association or any combination or association thereof. See 15 USC 1295
• Plaintiff: The person who files the complaint in a civil lawsuit.
• population: means total resident population based on data compiled by the United States Bureau of the Census and referable to the same point or period in time. See 34 USC 10251
• 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}
• preferred deposits: means deposits of any public unit (as defined in paragraph (1)) at any insured depository institution which are secured or collateralized as required under State law. See 12 USC 1813
• 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.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• public agency: means the United States, any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands of the United States, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Commonwealth of the Northern Mariana Islands, and any territory or possession of the United States, or any unit of local government, department, agency, or instrumentality of any of the foregoing, and includes (as may be prescribed by regulation hereunder) a legally organized volunteer fire department that is a nonprofit entity and provides services without regard to any particular relationship (such as a subscription) a member of the public may have with such a department. See 34 USC 10284
• 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 safety officer: means &mdash. See 34 USC 10284
• 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.
• receiver: includes a receiver, liquidating agent, conservator, commission, person, or other agency charged by law with the duty of winding up the affairs of a bank or savings association or of a branch of a foreign bank. See 12 USC 1813
• 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}
• 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.
• 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.
• reserve ratio: when used with regard to the Deposit Insurance Fund other than in connection with a reference to the designated reserve ratio, means the ratio of the net worth of the Deposit Insurance Fund to the value of the aggregate estimated insured deposits, or such comparable percentage of the assessment base set forth in section 1817(b)(2)(C) ² of this title. See 12 USC 1813
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• sale or distribution: includes sampling or any other distribution not for sale. See 15 USC 1332
• savings and loan holding company: has the meaning given to such term in section 1467a of this title. See 12 USC 1813
• savings association: means &mdash. See 12 USC 1813
• savings bank: means a bank (including a mutual savings bank) which transacts its ordinary banking business strictly as a savings bank under State laws imposing special requirements on such banks governing the manner of investing their funds and of conducting their business. See 12 USC 1813
• Secretary: means the Secretary of Health and Human Services. See 20 USC 7972
• Secretary: means the Secretary of Agriculture of the United States. See 7 USC 3103
• Secretary: means the Secretary of Agriculture. See 7 USC 5602
• Secretary: means the Secretary of Health and Human Services. See 15 USC 1332
• Secretary: means the Secretary of Agriculture. See 15 USC 1821
• sedentary work: means work that&mdash. See 34 USC 10284
• 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}
• Service: means the Foreign Agricultural Service of the Department of Agriculture. See 7 USC 5602
• Service of process: The service of writs or summonses to the appropriate party.
• 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.
• Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
• sore: when used to describe a horse means that&mdash. See 15 USC 1821
• State: includes the several States, and Puerto Rico, the District of Columbia, Guam, and the Virgin Islands. See 12 USC 1736
• State: includes the several States, and Puerto Rico, the District of Columbia, Guam, the Virgin Islands, the Canal Zone, and Midway Island. See 12 USC 1748
• State: means &mdash. See 7 USC 3103
• State: includes any political division of any State. See 15 USC 1332
• State: means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands. See 12 USC 1813
• 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: means any of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Trust Territory of the Pacific Islands. See 15 USC 1821
• State bank: means any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank), or other banking institution which&mdash. See 12 USC 1813
• State bank supervisor: means any officer, agency, or other entity of any State which has primary regulatory authority over State banks or State savings associations in such State. See 12 USC 1813
• State depository institution: means any State bank, any State savings association, and any insured branch which is not a Federal branch. See 12 USC 1813
• State member bank: means any State bank which is a member of the Federal Reserve System. See 12 USC 1813
• State savings association: means &mdash. See 12 USC 1813
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• 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
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• 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.
• 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.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• trust funds: means funds held by an insured depository institution in a fiduciary capacity and includes, without being limited to, funds held as trustee, executor, administrator, guardian, or agent. See 12 USC 1813
• Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
• 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}
• 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}
• unit of local government: means &mdash. See 34 USC 10251
• United States: includes each of the States, the District of Columbia, Puerto Rico, and the territories and possessions of the United States. See 7 USC 5602
• United States: when used in a geographical sense, includes the several States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Virgin Islands, American Samoa, Wake Island, Midway Islands, Kingman Reef, and Johnston Island. See 15 USC 1332
• United States agricultural commodity: means &mdash. See 7 USC 5602
• university: include a research foundation maintained by a college or university described in subparagraph (A). See 7 USC 3103
• 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.
• 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 aircraft. See 10 USC 8851
• 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
• Victim advocate: work with prosecutors and assist the victims of a crime.
• violation: includes any action (alone or with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation. See 12 USC 1813
• whoever: include corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals. See 1 USC 1