Terms Used In U.S. Code > Title 7 > Chapter 114 - Agricultural Security

• Administrator: means the Administrator of the United States Agency for International Development. See 22 USC 2220a
• affiliate: has the meaning given to such term in section 1841(k) of this title. See 12 USC 1813
• agricultural research: means research in the food and agricultural sciences. See 7 USC 3103
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• appropriate Federal banking agency: means &mdash. See 12 USC 1813
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
• bank holding company: has the meaning given to such term in section 1841 of this title. See 12 USC 1813
• Board of Directors: means the Board of Directors of the Corporation. See 12 USC 1813
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• control: has the meaning given to such term in section 1841 of this title. See 12 USC 1813
• 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.
• county: includes a parish, or any other equivalent subdivision of a State or Territory of the United States. See 1 USC 2
• 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
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department of Agriculture: means the United States Department of Agriculture. See 7 USC 3103
• deposit: means &mdash. See 12 USC 1813
• depository institution: means any bank or savings association. See 12 USC 1813
• domestic branch: includes any branch bank, branch office, branch agency, additional office, or any branch place of business located in any State of the United States or in any Territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands at which deposits are received or checks paid or money lent. See 12 USC 1813
• 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}
• 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.
• Executive agency: has the meaning given that term in section 105 of title 5. See 22 USC 3641
• extension: means the informal education programs conducted in the States in cooperation with the Department of Agriculture. See 7 USC 3103
• 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 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}
• 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.
• 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

• 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
• Fraud: Intentional deception resulting in injury to another.
• 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
• individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
• 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 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}
• 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.
• 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}
• 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}
• new depository institution: means a new national bank or Federal savings association, other than a bridge depository institution, organized by the Corporation in accordance with section 1821(m) of this title. See 12 USC 1813
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
• Oversight: Committee review of the activities of a Federal agency or program.
• 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
• savings association: means &mdash. See 12 USC 1813
• Secretary: means the Secretary of Agriculture of the United States. See 7 USC 3103
• State: means &mdash. See 7 USC 3103
• 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 a State, the District of Columbia, the Commonwealth of Puerto Rico, or any other territory or possession of the United States. See 1 USC 7
• State agricultural experiment stations: means those institutions eligible to receive funds under the Act of March 2, 1887 (24 Stat. See 7 USC 3103
• 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
• Statute: A law passed by a legislature.
• 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.
• uniformed services: has the meaning given that term in section 2101(3) of title 5. See 22 USC 3641
• United States: when used in a geographic sense, means each of the several States and the District of Columbia. See 22 USC 3641
• university: include a research foundation maintained by a college or university described in subparagraph (A). See 7 USC 3103
• 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
• writing: includes printing and typewriting and reproductions of visual symbols by photographing, multigraphing, mimeographing, manifolding, or otherwise. See 1 USC 1