Terms Used In Alaska Statutes > Title 6 > Chapter 60 > Article 3 - Licensee Obligations

• action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• board: means the state Board of Education and Early Development. See Alaska Statutes 14.60.010
• borrower: means an individual who receives a mortgage loan. See Alaska Statutes 06.60.990
• commissioner: means the commissioner of education and early development. See Alaska Statutes 14.60.010
• 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: means the power, directly or indirectly, to direct the management or policies of a company, whether through ownership of securities, by contract, or otherwise. See Alaska Statutes 06.60.990
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.60.990
• department: means the Department of Education and Early Development. See Alaska Statutes 14.60.010
• depository institution: has the meaning given in 12 U. See Alaska Statutes 06.60.990
• 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.
• Fraud: Intentional deception resulting in injury to another.
• 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.
• guardian: includes a natural, adoptive, and foster parent, stepparent, legal guardian, relative, and other adult person with whom a student has resided and who has acted as a parent in providing for the student or has been responsible for the student's welfare for a continuous period. See Alaska Statutes 14.60.010 v2
• 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.
• 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.
• license: means a license issued under this chapter. See Alaska Statutes 06.60.990
• licensed mortgage loan originator: means a person who holds a mortgage loan originator license issued under this chapter. See Alaska Statutes 06.60.990
• licensee: means a person who holds a license issued under this chapter. See Alaska Statutes 06.60.990
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• month: means a calendar month unless otherwise expressed. See Alaska Statutes 01.10.060
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• mortgage licensee: means a person who holds a mortgage license. See Alaska Statutes 06.60.990
• mortgage loan: means a residential mortgage loan. See Alaska Statutes 06.60.990
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
• nontraditional mortgage product: means a mortgage product other than a 30-year fixed-rate mortgage. See Alaska Statutes 06.60.990
• Oversight: Committee review of the activities of a Federal agency or program.
• person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
• 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}
• property: includes real and personal property. See Alaska Statutes 01.10.060
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Quorum: The number of legislators that must be present to do business.
• record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Alaska Statutes 06.60.990
• registered depository institution: means a depository institution that is registered under Alaska Stat. See Alaska Statutes 06.60.990
• registry: means the Nationwide Mortgage Licensing System and Registry. See Alaska Statutes 06.60.990
• 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.
• state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
• Statute: A law passed by a legislature.
• writing: includes printing. See Alaska Statutes 01.10.060